FirstBest says the solution includes rapidly configured applications that bring in external data, incorporate modeling tools, and deliver precision pricing and stronger underwriting discipline.
The specialty market must accommodate a wide variety of unique risks, and requires more operational and system flexibility to meet insurer, broker and insured needs, the company says.
Whether they compete for quality submissions in this market, provide niche solutions through programs and MGAs/MGUs, or participate in line-slip or fronting arrangements, FirstBest says specialty carriers must be able to adjust their processes and systems to both the risk characteristics and the way they work with individual markets and brokers.
FirstBest adds that the solution helps to streamline communication between underwriters and brokers by allowing brokers to expedite the submission process with easier entry, appetite alerts, pre-clearance, broker quote and bind, and visibility.
