Stonetrust Successfully Implements FirstBest Underwriting Management System

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Dec 10, 2014, 10:59 ET

BEDFORD, Mass., Dec. 10, 2014 /PRNewswire/ -- FirstBest® Systems, Inc., provider of insurance software solutions for American and global insurance carriers, today announced that Stonetrust Commercial Insurance Company has successfully implemented the FirstBest Underwriting Management System (UMS^TM) to manage the company's workers' compensation business.

With FirstBest UMS, Stonetrust will achieve profitable growth and deliver exceptional customer service to its agents. Stonetrust will be able to develop accurate risk profiles; streamline data entry and agent submission, quoting, and binding capabilities for new and renewal business; increase agent collaboration and visibility; and institute underwriting best practices.

"We are delighted with our successful FirstBest UMS implementation," said Tim Dietrich, President, Stonetrust Commercial Insurance Company. "The FirstBest solution removes a huge barrier to efficiency. Our underwriters were previously constrained by having to operate in multiple and disparate systems. Now, we can better manage and grow our company by leveraging a single, modern, and flexible underwriting platform."

Stonetrust's successful implementation of the FirstBest Underwriting Management System assists the company in addressing key challenges and strategic goals:

Complete more profitable business with agents, using the streamlined FirstBest Agent Portal and agent upload resources.
Reinforce disciplined underwriting by replacing paper-based practices with analysis-driven processes.
Scale the business, and propel profitable growth with leading-edge underwriting technology.

Additionally, the company plans to facilitate straight-through-processing for agents, using FirstBest Agent^TM and FirstBest AppReader^TM. With the system's low-touch, rules-based workflows, agents can efficiently issue certificates of insurance with minimal underwriter supervision by Stonetrust — resulting in quicker turnaround of submissions and a boost in both new and renewal business processes.

"From the outset of our engagement, FirstBest understood our business needs and interpreted them effectively via the configurable features of UMS," said Sukhy Dhillon, CIO, Stonetrust. "This important project was very smooth and trouble free. CIOs responsible for rolling out a major new business application typically expect obstacles and delays, but those roadblocks never arose in the implementation of FirstBest UMS."

"We are very excited for the accomplishments of Stonetrust in establishing the advanced underwriting workstation and agent portal capabilities of the FirstBest UMS for risk assessment productivity and enhanced agency service," said John Belizaire, CEO and founder of FirstBest Systems. "The use of transformative technology to reinvent the insurance front office is a key measure for closing more of the right business. FirstBest is proud to partner with Stonetrust and directly contribute to their success."

Stonetrust Commercial Insurance Company
Stonetrust is a Louisiana domiciled insurance company providing workers' compensation and employers' liability. The company is licensed in eight states: Louisiana, Arkansas, Mississippi, Oklahoma, Kansas, Missouri, Tennessee and Texas. Stonetrust's mission is to be a professional and capable partner to policyholders and producers while providing workers' compensation coverage at competitive rates.

About FirstBest
FirstBest® Systems is the leading provider of insurance software solutions and services that help U.S. and global insurance companies improve underwriting profitability, scale their business, and achieve high service levels with agents and brokers. The patented and proven FirstBest Front Office Suite^TM powers the underwriting operations of leading commercial property/casualty, specialty, and workers' compensation carriers. Processing more than $17 billion in quotes and featuring a modular set of applications, the Front Office Suite incorporates a dedicated underwriting workstation (FirstBest UMS®), mobile underwriting (FirstBest UMS Mobile), agent/broker portal (FirstBest Agent™), data integration/upload applications (FirstBest AppReader™), and configuration tools (FirstBest Business Analyst Studio). Leading American and international carriers, such as XL Group plc, OneBeacon, Chesapeake Employers, Beacon Mutual, and ICW Group, rely on FirstBest to improve underwriting efficiencies and quality. FirstBest helps insurers institutionalize risk-assessment knowledge and best practices. With FirstBest solutions, all constituents in the underwriting process can rapidly quote, collaborate, issue, and bind business on a single, data-powered, real-time platform. To learn more, call 1-781-863-6000 or visit www.FirstBest.com.

FirstBest is a registered trademark of FirstBest Systems, Inc. FirstBest Front Office Suite, FirstBest UMS, Underwriting Management System, FirstBest Dynamic Synchronization, FirstBest UMS Mobile, FirstBest BA Studio, FirstBest Agent and FirstBest AppReader are trademarks of FirstBest Systems.

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SOURCE FirstBest Systems, Inc.