FirstBest Integrates Verisk Data with Underwriting Suite

Version 5.0 of the company's Front Office Suite for underwriters includes integration with multiple data sources from Verisk Analytics' underwriting division.

FirstBest Systems has released version 5.0 of its FirstBest Front Office Suite. New features include FirstBest Connector for Verisk and FirstBest Business Analyst Studio.

The Connector provides property and automobile data sources and analytics from Verisk. These include A-PLUS property and auto loss history reports, Coverage Verifier, LOCATION reports, catastrophe reports and motor vehicle reports.

Neil Spector, president of Verisk Insurance Solutions – Underwriting, says the goal is to provide insurers with a good collection of risk and data analytics.

[More information on Verisk Underwriting Solutions]

"By delivering the wide variety of Verisk data and analytics directly to the point of decision on the underwriter's desktop, FirstBest and Verisk are enabling underwriters to make the most accurate pricing decisions, increase competitive advantage, and build better book of business," he says in a statement. "We will continue to work together to deliver future innovations in the P&C underwriting industry."

The Studio allows end users to configure the front end of the underwriting system, including fields, values, questions, screens, supplemental questions, risk selection, rules, assignments and straight-through processing.

"The Suite's intuitive account view provides us with the ability to analyze the entire risk, not just pieces of it," says Robin Arendt, XL Group's CIO, in a statement. "With version 5.0, we now have the ability to create complex and complete proposals more quickly and with the touch of a bottom, in order to provide professional proposals in less time."

These features are added to the FirstBest UMS underwriting workstation, FirstBest Agent agent portal, the FirstBest App Reader uploader for carriers, agents and brokers, and the FirstBest Mobile iPad application, which is in its third iteration.

[Four things insurers really want from mobile: FirstBest Research]

Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio