(Photo credit: Paul Maritz.)
Hippo Analytics Inc., a Mountain View, California MGA startup, has selected Oceanwide’s Bridge suite to support its entry into the homeowners’ insurance market as the company launches a new insurance offering designed to appeal to millennial homeowners and renters. Hippo will use Bridge’s policy administration, billing, underwriting and reporting modules, according to an Oceanwide statement.
Hippo sought a modern policy system integrated with an innovative portal solution to handle backend insurance processing while providing the immediate responsiveness that the younger buyer demographic has come to expect in the online purchasing process, Oceanwide reports. The company required a flexible system for its immediate needs as a startup MGA supporting one carrier, but also a system that would easily accommodate its anticipated business growth to handle multiple carriers in all 50 states, the vendor elaborates.
“We looked at many vendors during our search,” comments Eyal Navon, co-founder and CTO, Hippo, “and selected Bridge due to its end-user configurability which will provide our team with the ability to maintain the system on our own. Oceanwide’s focus on our specific needs and ability to scale with us was one of the key attraction points.”
Oceanwide describes the Bridge suite, which includes policy, billing and claims, as designed to streamline processing for property and casualty (P&C) insurers, brokers, and MGAs. Bridge offers what the vendor calls Smart Configuration (needing no programming or scripting) to ensure that it is configurable by business users. The suite includes modules for rating, document/policy generation, workflow management, and reporting & analytics, as well as agent and consumer portals. Bridge features an intuitive user interface and enables a high degree of self-sufficiency, and features support for multi-lingual and multi-currency transactions, the vendor asserts.