Mutual of Omaha’s Special Risk Division Consolidates and Modernizes with Oceanwide Bridge

Components to be deployed, on a software-as-a-servce basis, include an agent/consumer portal, underwriter workstation, rating, billing, document production and business intelligence reporting.

(Photo credit: Ben Schumin.)

Mutual of Omaha has selected Oceanwide’s (Montreal) cloud-based Oceanwide Bridge suite to support core processing for the company’s Special Risk participant accident insurance product. Mutual of Omaha’s Special Risk Division will use the system to replace multiple legacy systems and consolidate quoting, rating, binding and policy processing. Components to be deployed, on a software-as-a-service basis, include an agent/consumer portal, underwriter workstation, rating, billing, document production and business intelligence reporting.

“In searching for a new system to replace our multi-system legacy environment we wanted a solution that would provide us capabilities that include support for agent and policyholder access,” comments Scott Hanson, VP, Special Risk, Mutual of Omaha.  “We were also looking for a system that would afford us a high level of self-sufficiency.  Oceanwide Bridge proved to be the best solution to meet our needs.”

(Related: Oceanwide Acquisition Gains Insurity Cloud, Configuration Capabilities)

Mutual of Omaha anticipates the efficiency benefits associated with a consolidated processing environment, as well as streamlined processing, improved cost and process efficiencies, elimination of duplicate data entry and the ability for both agents and consumers to access the system via Bridge Portal, according to an Oceanwide statement. The Bridge system features Smart Configuration, which will enable the insurer’s to quickly make system modifications as product and process needs change over time, without the need for any coding, programming or scripting, according to the vendor.

“We are pleased to be chosen by a prestigious and top tier organization like Mutual of Omaha,” comments Mitchell Wasserman, CEO, Oceanwide. “Being recognized for the quality of our offering, our SaaS delivery for quick implementation, and our ability to help transform Mutual of Omaha’s operation is gratifying.  We look forward to working with the team to ensure they enjoy the maximum value of the investment in Oceanwide.”

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For over a decade he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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