(Aviation coverage is among products offered by QBE North America’s Specialty Lines business. Source: Boeing.)
QBE North America’s (New York) Specialty Lines business is poised for growth and continues to make significant technology investments in recent weeks to support its ambitions. The division has selected the FirstBest’s (Bedford, Mass.) Underwriting Management System (FirstBest UMS), agent portal (FirstBest Agent) and data integration/upload application (FirstBest AppReader) as the underwriting work bench for the insurer’s Specialty Lines business.
Robust, Responsive Underwriting Technology
The FirstBest solutions were chosen to support growth goals by providing the carrier’s Specialty Lines underwriters with a single, scalable, and consistent underwriting workstation environment, regardless of the policy or rating systems being used.
“To support our expansion in an increasingly competitive specialty market, we need robust, responsive underwriting technology,” comments Jeff Grange, president, Specialty Lines, QBE North America. “During a thorough evaluation process, we realized that policy systems do not offer the breadth of required underwriting functionality. We selected FirstBest UMS because of the solution’s scope in managing precise, data-driven underwriting.”
Grange characterizes FirstBest UMS as highly flexible regarding integration with diverse policy systems, rating engines, and other technologies. As such, he elaborates, it will enable QBE’s Specialty Lines to quickly scale, extend, and overlay deep underwriting functionality as needed in our operations. “We are looking forward to gaining significant benefits from reducing a host of manual and redundant underwriting workflows, and establishing consistency in risk evaluation, rules, authority, referrals, and precision pricing,” Grange comments.
QBE’s Specialty Lines unit will deploy FirstBest UMS to scale its risk assessment operations, improve the ease of doing business with QBE for agents, and standardize best practices to enforce underwriting discipline throughout the organization, according to a FirstBest statement. FirstBest’s dedicated underwriting workstation solution will allow QBE to eliminate the inefficiencies of navigating multiple systems and sources to analyze risk data, and enhance the visibility and strategic management of multi-line accounts and books of business, according to the vendor.
“FirstBest offers a suite of cloud-based underwriting technology to help global companies like QBE fully manage the complexities of specialty and commercial lines underwriting—by providing extensive functionality, integration, and analytic insight to negotiate today’s risk evaluation landscape,” comments John Belizaire, CEO and Founder, FirstBest Systems. “We’re proud to welcome QBE into a distinct customer community that continues to gain measureable and sustainable value from FirstBest’s powerful underwriting workstation solution.”
QBE North America is a division of QBE Insurance Group Limited (Sydney), one of the world’s 20 largest insurance and reinsurance companies.