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Mutual Underwriters, LLC (Noblesville, Ind.), a commercial, personal, and niche business insurance products company, has launched the InsuranceEnterprise platform from CodeObjects, Inc. (Milpitas, Calif.) to help grow the insurer’s business.
The company cited the fact that the solution is fully cloud-enabled using Amazon Web Services as a major factor in its adoption decision. The platform allows for optimized operating efficiencies and improved speed to market while reducing native IT infrastructure and management costs.
Mutual Underwriters was seeking a core system platform that would also allow it to rapidly grow its business by managing products for multiple insurance carriers in multiple states. “Many of the existing core insurance systems are unable to offer the agility we needed to pursue these opportunities,” says Sean Murray, Managing Director, Mutual Underwriters.“The cost to modify products and enhance the systems was much too large and required significant operating expense. We needed a solution supporting our goal of running a lean organization.”
CodeObjects flexible rules-based framework, designed for business users, met the degree of configurability and efficiency that Mutual Underwriters sought. CodeObjects says that this flexibility allows updates and new product launches across multiple jurisdictions to meet the changing needs of the marketplace.
Supporting Agility in the Marketplace
“Customers like Mutual Underwriters are under increasing market pressure to launch products and provide efficient and compliant solutions while controlling costs,” comments Anil Annadata, CEO, CodeObjects.“We are very pleased with the results of our work with Mutual Underwriters and look forward to helping them continue to grow their business.”
The software provider states that InsuranceEnterprise is built to optimize processes, allowing customers to leverage data across a dispersed set of integrated endpoints to implement a consistent, repeatable approach to product management and policy processing. Process improvements can be made on a continuous basis due to rules-based workflows, product inheritance, rate testing harness, and a library of ancillary services bundled with the solution, according to CodeObjects.