SOURCE: FirstBest Systems, Inc.

FirstBest Systems, Inc.

June 24, 2009 09:00 ET

ICW Group Awarded for Results Achieved With FirstBest Underwriting Management System

FirstBest System's P&C Customer Wins IASA Technology Achievement Honorable Mention and INN 2009 VIP Best Practices Award

BEDFORD, MA--(Marketwire - June 24, 2009) - FirstBest® Systems, Inc., developer of advanced Underwriting Management Systems™ (UMS) that enable property and casualty insurance carriers to profit from better underwriting, today announced that its customer, ICW Group, has won two well-regarded insurance industry awards. ICW Group was honored for its impressive results achieved with the FirstBest UMS™, a next-generation underwriting workstation combined with FirstBest Agent, its rich agent portal.

ICW Group Insurance Companies (ICW Group), a multi-line Super Regional Insurance carrier with a major focus on Workers' Comp, has realized significant results after implementing FirstBest UMS, which ICW Group has branded Snap, for its workers' compensation line of business. ICW Group's roll out of Snap, a rich agent portal with a next-generation underwriting workstation, has already resulted in increased submissions, increased quote production, underwriting productivity, and real-time collaboration with their agents. Results to date, during a highly competitive market, include: 50.8% increase in quality submissions, 70.8% increase in quote production, 34.3% increase in bound policies, and 47% decrease in policy processing time.

FirstBest accepted the INN 2009 VIP Best Practices Award for ICW Group's deployment of FirstBest UMS at a black-tie awards event held at the ACORD LOMA Insurance Systems Forum in Orlando in May. This segment of the INN 2009 VIP (Vanguard in Practices) Awards was open to top-ranked solution providers including FirstBest Systems, which nominated ICW Group. ICW Group won third place for its visionary use of FirstBest UMS and demonstration of adherence to ACORD data standards. Survey development, data collection and rankings analysis were led by Celent in partnership with Insurance Networking News (INN). For more award information, visit http://www.insurancenetworking.com/news/-12352-1.html.

Additionally, at the IASA Technology Achievement Award ceremony, ICW Group was awarded the first honorable mention for the results derived from their successful implementation of the FirstBest UMS for workers' compensation insurance. The accolade was presented during the IASA 2009 Annual Educational Conference and Business Show held earlier this month in Kissimmee, FL. The Insurance Accounting & Systems Association, Incorporated (IASA) is one of the industry's largest and most represented trade associations.

About FirstBest

FirstBest® Systems, Inc. delivers advanced Underwriting Management Systems™ (UMS) that enable insurance companies to write more business and write better business. The FirstBest UMS™ combines a next-generation underwriting workstation with a rich agent portal for commercial lines carriers. Insurers can achieve greater speed and business agility, provide real-time collaboration to make it easy for agents to do business with them, promote enhanced underwriting discipline and best practices, scale their book of business profitably, and empower underwriters and agents with greater visibility into the business. FirstBest Agent is now offered as a stand-alone solution and provides carriers with all agency-facing capabilities to enable a faster path to market-driven ROI, while enabling ease of doing business with agents.

For more information, visit www.firstbest.com or call 1.888.863.6095.

FirstBest is a registered trademark of FirstBest Systems, Inc. UMS and Underwriting Management System are trademarks of FirstBest Systems, Inc. All other trademarks are property of their respective owners.

Contact Information

  • Press contact:
    Meira Primes
    VP, Marketing
    FirstBest Systems, Inc.
    781.863.6005
    Email Contact