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Palomar Specialty Moves to Cloud-based Platform

The insurer plans to improve underwriting and speed to market for its customers in earthquake-exposed states.

Palomar Specialty Insurance Company has announced plans to launch a cloud-based Atlas hosted platform from P&C IT solution provider PCMS. The solution will allow customers with few options to buy earthquake insurance without running into IT problems.

[ More movements to the cloud: The General Moves Claims to the Cloud. ]

Atlas will handle claims management and reporting, business intelligence, underwriting, policy administration, rating and billing for Palomar Specialty. It will provide data analytics and qualitative underwriting in real time, reduce operational costs and boost speed to market for unique product sets. Palomar Specialty will use Atlas to grow its business in earthquake-prone areas.

“After an extensive search, we selected PCMS because of their modern, all-in-one comprehensive system, upfront and inclusive pricing model and proven track record of successful and quick implementations,” says Mac Armstrong, founder and CEO at Palomar Specialty, in a statement. “Atlas’ agile and flexible platform will allow us to be responsive to market needs, especially those of our distribution partners, while providing a platform for growth as we expand.”

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Kelly Sheridan is the Staff Editor at Dark Reading, where she focuses on cybersecurity news and analysis. She is a business technology journalist who previously reported for InformationWeek, where she covered Microsoft, and Insurance & Technology, where she covered financial ... View Full Bio

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