CastleBay Consulting Corporation (CastleBay) has announced the creation of a new sister company, CB Technology Services Corporation (CB Tech).

Throughout CastleBay’s 17-year history, the company has worked hard to build a respected reputation across all segments of the industry for practical, hands-on knowledge of insurance business, processes and practices, and for having experts that specialize in vendor and software selection, program and project management, data conversion strategies, legacy modernization and other functional areas important to insurance companies. Recent demand for services related to core systems implementations has increased dramatically, leading to CastleBay’s launch of CB Tech.

"It has been our experience that once insurers reach a decision point about the vendor or software that is needed, there are still obstacles to be faced, including vital ‘blocking and tackling’ functions such as quality assurance (QA), data conversion, configuration, and integration," said George Grieve, president and founder of CastleBay, and now CB Tech. "These activities are not only time-consuming, but operationally draining in terms of resources, often leading insurers to offshore options due to pricing considerations and assumptions which don’t always reflect quality of outcomes, or the internal managerial overhead needed to keep them on track."

Considering the need in the insurer community for such services, CastleBay is pleased to now be able to extend the expertise of the company’s senior management into successfully launching CB Tech, which will maintain a service center in Reading, Pennsylvania. CB Tech has already built an onshore QA practice using methodologies and intellectual property (IP), tools, accelerators, and management know how developed over the years at CastleBay. By leveraging CastleBay’s expertise, CB Tech offers a complete QA solution and implementation services without the disadvantages of offshoring.

CB Technology Services, which was incorporated in January, kicked off an initial client QA project in April of this year and is currently bidding on two major projects that involve policy, claim and billing data migration, as well as configuration and integration services delivery. The speed with which the market has embraced the new company’s value proposition has exceeded Grieve’s expectations.

"We are tremendously excited about these new service offerings and about the unique value proposition of our new company which is essentially — CastleBay quality at (near) offshore prices," said Grieve.