Capitol Insurance Companies Receives Celent's 2010 Model Insurer Award

MIDDLETON, Wis., March 12 /PRNewswire/ -- Capitol Insurance Companies (Capitol) is pleased to announce that Celent, a leading research and advisory firm focused on insurance technology strategy, has awarded Capitol the Celent 2010 Model Insurer Award in the area of Policy Administration. Celent's Model Insurer Award identifies key high-level best practices in the use of insurance carrier technology. The presentation ceremony for the awards was held at the Westin Times Square Hotel in New York City.

Capitol was recognized for the technology deployed in its new online surety bond system, Capitol Express (CapEx), which allows appointed insurance agents and brokers to rate, issue and service their surety bonds online in an easy and convenient manner. With the release of this new online system in late 2008 and early 2009, registered Capitol Express users have the ability to significantly speed up the process of obtaining bonds by submitting an application, receiving approval and issuing bonds online, anytime. To complement its simplicity, CapEx uses a dynamic automated underwriting system, which gives agents the processing and management reporting tools they need, when they need them, to write business with Capitol.

"We understand the importance in the ease of doing business and believe that Capitol Express is one of the simplest online surety bond systems available. Our ultimate goal is to utilize this system for the processing of all small, transactional surety bonds throughout the United States," said Rick Allen, President, Surety & Fidelity Operations.

"We could not be more thrilled that Capitol has been recognized as a market leader for demonstrating the extensibility of the Dragon system," commented Glenn Anschutz, president and CEO of OneShield. "The leadership they invested into this project has paid off in improved agent experience and reduced underwriting costs and Capitol deserves this recognition for their hard work and successful collaboration and leadership." Capitol has been in production with OneShield since December 2008.

About Capitol

Capitol has been insuring business owners since 1959. Capitol is a national underwriter of specialty insurance products in niche areas of the commercial property and casualty and the fidelity and surety markets. Through its operating entities, Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation and Platte River Insurance Company, Capitol offers high-quality customer service in programs tailored to the needs of its customers' business and risk management strategies. Information on Capitol is available at http://www.capitol.net. Capitol has an A ("Excellent") rating from A.M. Best. Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation and Platte River Insurance Company are subsidiaries of Alleghany Insurance Holdings LLC.

About OneShield

OneShield provides browser-based solutions to automate the sales and service of insurance and bond products for insurance carriers, major brokers, and managing general agents. Its flagship product, OneShield Dragon®, is a  tools-based, data-driven insurance underwriting, policy administration, rating and workflow engine. Dragon provides configurable and modifiable options to meet today's goals and to adapt to future demands. OneShield has offices in Westborough, MA; Glastonbury, CT; and Gurgaon, India. For additional information, visit http://www.oneshield.com  

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SOURCE Capitol Insurance Companies