Farmers and Mechanics Mutual Insurance Company of West Virginia (FMMIC of WV; Martinsburg, W.Va.), has reached an agreement to implement Insuresoft (University Park, Ill.) core system technology on a software-as-a-service basis, according to a vendor statement.
FMMIC of WV has licensed the Diamond Suite, which the vendor describes as a fully automated suite of pre-integrated best-of-breed solutions for personal and commercial lines delivered as a software-as-a-service (SaaS) solution. Insuresoft will be leveraging Marias Technology Services (Piqua, Ohio) in a multi-year contract for hosting and additional services.
[For more on policy administration modernization: P&C Policy Admin System Replacement: Be Careful Whom You Trust.]
"Insuresoft's combination of modern, multi-lines solutions combined with their extremely knowledgeable and friendly staff made it an easy decision for us," states Stacey Matteson, senior VP underwriting, FMMIC, "The Diamond Suite delivered as a SaaS solution allows us to improve the ease of doing business with our agent distribution channel and allows us to focus on improving our business as opposed to maintaining our technology infrastructure."
Brad Stoub, VP, sales, Insuresoft, adds, "FMMIC will take full advantage of the innovative Diamond Suite that will have immediate beneficial impact to its business, including the ability for straight through processing and improving speed to market changes."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio