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FirstBest Overview
Founded in 2006, FirstBest Systems®, Inc. is a software and services company providing advanced Underwriting Management Systems™ (UMS) to commercial insurance carriers.
FirstBest’s UMS™ is a business solution, provided as a web-based platform, for underwriting all lines of business. It uniquely delivers— straight through processing, exception-based underwriting, real-time collaboration,...More»
Founded in 2006, FirstBest Systems®, Inc. is a software and services company providing advanced Underwriting Management Systems™ (UMS) to commercial insurance carriers.
FirstBest’s UMS™ is a business solution, provided as a web-based platform, for underwriting all lines of business. It uniquely delivers— straight through processing, exception-based underwriting, real-time collaboration, knowledge management, management visibility, and integration with predictive modeling—in one integrated solution to carriers’ vital underwriting operations. The deployment of this solution results in increased revenue and profitability and closer agent-underwriter relationships, while providing management visibility into the underwriting process and the continuous capturing and sharing of underwriting experience and best practices.«Less
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Funding
| Date | Type | Capital Amount | Post-Money Valuation | Investors |
|---|---|---|---|---|
| 11/13/2007 | Series A | 7M | Unknown |
Products
| Name: | Underwriting Management System |
| Product URL: | http://www.firstbest.com/solutions-overview.htm |
| Description: | The FirstBest UMS™ lets carriers respond to market pressures by increasing revenue and profitability in tandem, building closer agent-underwriter relationships, providing management visibility into the underwriting process, and continuously capturing and sharing underwriting experience and best practices across the organization. Benefits to carriers also include: * Improved underwriting efficiency and discipline * Less underwriting leakage and increased profit * Greater ease of doing business with agents * Real-time information delivered to underwriters * Insights to enable precision pricing and reduced risk * Faster time to market with new insurance products * Business speed and agility * A more customer-centric approach to underwriting processes and products. Through Service-Oriented Architecture (SOA) data integration, the UMS™ co-exists with existing systems, including legacy systems based on non-SOA architectures and external systems. There is no need to “rip and replace” existing technology, because the UMS adheres to the latest interoperability standards in Web services and SOA. |
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FirstBest Granted Patents for Innovations in Insurance Underwriting Management System and Agent Portal
Jan 31, 2012 - 0 comments
FirstBest Achieves Record Adoption of Insurance Underwriting, Agent Portal and Agency Upload Applications
Dec 5, 2011 - 0 comments
FirstBest Announces Support for Multi-Line Insurers
Nov 30, 2011 - 0 comments
SMA to Present Myths and Realities of Underwriting Automation During Insurance Webinar Hosted by FirstBest
Nov 1, 2011 - 0 comments
FirstBest Announces Mobile Capabilities for Insurance Front Office Suite
Sep 13, 2011 - 0 comments
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