(Puerto Rico coastline at Patillas. Photo credit: José Oquendo.)
SIMED (San Juan), the largest insurer of medical professional liability for physicians in Puerto Rico, has selected Oceanwide’s (Montreal) Bridge Insurance Software Suite to replace legacy systems and support its medical professional liability line of business. SIMED will be using Bridge’s portal, policy administration, rating, billing, claims, document generation, and reporting modules.
Bridge will allow SIMED to improve processes and workflow to gain efficiencies, enhance customer service, and support its value creation initiatives, according to an Oceanwide statement. SIMED sought to replace its multiple systems with an integrated solution to achieve its efficiency targets and business partner integration.
“The configurability of Bridge was a key factor in our decision along with the depth of SaaS experience and expertise on the Oceanwide team,” comments Agustín Montalvo, president, SIMED. “With Bridge, our team will be able to maintain our products and our agent portal that will be available in both Spanish and English.”
Oceanwide’s First Implementation of Medical Professional Liability
“We’re excited to have SIMED as our newest customer,” comments Mitchell Wasserman, chief executive officer, Oceanwide. “This is our first implementation of medical professional liability, showing the range and flexibility of Bridge. We are delighted to add our first insurer in Puerto Rico.”
Oceanwide describes its Bridge Insurance Software Suite as specifically designed to streamline processing for property and casualty (P&C) insurers, brokers, and MGAs. The firm was acquired by Insurity in 2015 as a rapid deployment option with advanced cloud-readiness. Bridge features Smart Configuration (no programming or scripting) to ease business users’ configuration of the system. Oceanwide claims that Bridge enables a high degree of self-sufficiency, and can handle multi-lingual and multi-currency transactions.