(Image source: Great Bay homepage.)
The Great Bay Insurance Company, a Demotech (Columbus, Ohio) A-rated insurance company based in West Atlantic City, New Jersey, has successfully implemented the BriteCore (San Mateo, Calif.) Platform for policy management, billing, and claims management and exceeded growth expectations, according to a BriteCore statement.
Great Bay was established to provide admitted homeowners with dwelling fire coverages designed to handle the challenges specific to coastal New Jersey residents, according to a BriteCore statement. The company’s mission is to offer tailored policies to fit individual homeowners according to property age, type, and location instead of based on skewed demographics from a larger, regional risk pool. Great Bay selected the BriteCore Platform for its modern user interface (UI), intuitive quoting and claims functionality, standard integrations with vital data sources, and flexible reporting options, the BriteCore statement says.
“BriteCore’s expansive functionality allowed us to accomplish an incredible amount in a very short time when we launched as a company,” comments Tim Byrne, CEO, Great Bay. “We’re very grateful for the opportunity to work with BriteCore to enable Great Bay to thrive as a startup P&C insurance provider delivering high-quality products and tailored customer service.”
Quick Premium Growth
Byrne credits BriteCore’s efficient digital processes and automation as being foundational to Great Bay’s continued success, the BriteCore statement says. During the company’s first two years of operations, BriteCore’s flexible, easy-to-use quoting and claims functionality helped Great Bay quickly grow direct written premium (DWP) from zero to $30M. And, during the COVID-19 pandemic, BriteCore’s cloud-native core platform enabled Great Bay’s staff to transition seamlessly to and from remote work without business interruption, BriteCore reports. Great Bay’s agents have cited the BriteCore platform’s user-friendly design and strict multi-factor authentication security protocols, according to the vendor.
“We knew from the start that Great Bay needed a flexible core platform which could be rapidly deployed and scaled while also affording 24×7 accessibility,” comments Ray Villeneuve, CEO, BriteCore. “Using the published APIs in our BriteCore Platform, for example, Great Bay was able to easily integrate with industry-standard vendors and data sources, and they have been able to continue expanding the range of services offered to further improve the agent and customer experiences. We are very pleased to be a major contributor to Great Bay’s success and ongoing journey.”