Maryland-based The Injured Workers' Insurance Fund (IWIF) has deployed FirstBest Underwriting Management System (UMS) and FirstBest Agent to help enhance its underwriting profitability and also further improve its agent service.
IWIF CPA president and CEO Thomas Phelan said the underwriters will be able to price each risk competitively and profitably, simultaneously improving the speed of service, with new automation and easily accessible comprehensive information.
”At the same time, by providing our agent partners with real-time access to data, instant quotes, and faster service, we expect they will send more business to IWIF,” Phelan added.
FirstBest UMS is expected to transform the roles of underwriters with one-stop underwriting,empower IWIF’s agents for all account sizes, accelerate growth and increase productivity, as well as improve technology.
CPA chief administrative officer and CFO Paige Beck said: "With FirstBest, we will replace the underwriting functions in our legacy systems with a more maintainable, flexible underwriting system that will adapt to future needs – and do it in timely manner.”
The FirstBest UMS develops highly accurate risk profiles based on risk data, modeling tools, third-party data and best practices, enabling underwriters focus on analyzing the risk and delivering answers to their agents in an accelerated timeframe.
The solution also helps commercial-lines carriers deploy products faster to keep up with market shifts and customer demand.