Systema Software, a leading provider of claims administration software and services to the insurance industry, and Oceanwide, a leader in SaaS-based policy administration systems for the insurance industry, today announced a strategic alliance to combine their respective solutions in claims and policy administration into a joint end-to-end insurance solution.

This complementary offering will include SIMS Claims, Systema’s award-winning claims system, and Bridge, Oceanwide’s suite of insurance software solutions.

SIMS Claims is a modern, comprehensive claims solution for multiple lines of property and casualty insurance. Bridge will include SIMS as a module for claims in its insurance suite in addition to its own modules for policy administration, rating, document and policy production, workflow management, billing, business intelligence, as well as agent and consumer portals. Insurance companies will be able to access this combined platform as a hosted solution via the cloud or implement it on-premises.

Jose Tribuzio, CEO of Systema Software, commented: "Systema Software and Oceanwide are well aligned in terms of our company cultures and market approach. Both of our companies have a keen focus on customer service and satisfaction; provide innovative and flexible best-of-breed solutions in our respective fields; and strive to recruit knowledgeable experts who can advise clients on process optimization and best practices. We’re excited to work with Oceanwide; the company’s Bridge suite provides a strong complement to SIMS Claims, as it supports comprehensive capabilities in the policy lifecycle."

Mark Adessky, President of Oceanwide, added, "We chose to work with Systema Software because they offer a modern, reputable and reliable claims solution, which we’re excited to offer as part of our Bridge suite. SIMS provides an unparalleled depth of claims functionality, which rounds out our suite. Both of our products offer clients with a high level of configurability in terms of designing screens and workflow, which helps them to drive efficiency and growth. Our joint offering represents a complete end-to-end solution to the market. Through our hosted models, companies can rapidly implement this joint platform at a fraction of the cost of other end-to-end solutions."