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HDI-Gerling American Insurance Company Selects Oceanwide Bridge
Montreal, Quebec and Chicago, IL December 16, 2014 Oceanwide, Inc. (Oceanwide), developer of completely configurable, SaaS insurance software solutions for property and casualty (P&C) insurers, today announced HDI-Gerling America Insurance Company (HDI-Gerling America) has selected the Oceanwide Bridge policy administration, rating and quoting platform to support and enable the company's rapid growth.
HDI-Gerling America sought greater efficiencies and regulatory compliance benefits through modernization and automation. The company, a subsidiary of HDI-Gerling Industrie Versicherung AG of Hannover, Germany, writes property, general liability, umbrella, inland marine and ocean marine in all 50 states. HDI-Gerling America conducted a complex requirements-gathering and selection process, during which more than ten systems and vendors were evaluated.
We selected Oceanwide and Bridge because of the flexibility of the system, said Jim Clark, chief underwriting officer and senior vice president of HDI-Gerling America. And, we knew down the road this was the right system if we wanted to be able to maintain existing products and configure new products and lines of business ourselves. It was a pretty simple decision for us. We're going from a manual environment to an automated system where Bridge will keep track of all our rating in the background, make sure we are using the proper forms and rates, and give us more flexibility for the future.
Oceanwide Bridge streamlines processing for P&C insurers, brokers, and MGAs, and in addition to core administration (policy, billing and claims), includes modules for rating, document/policy production, workflow management, and business intelligence (BI), as well as agent and consumer portals. As noted by HDI-Gerling America, Bridge is easily configured by business users, and features an intuitive user interface (UI). Once implemented, Bridge enables a high degree of self-sufficiency for insurers. HDI-Gerling America will implement Bridge for its commercial property line of business later this year, and other lines of business will follow.
We are very pleased to have been selected by HDI-Gerling America, said Mitchell Wasserman, chief executive officer, Oceanwide.The most successful partnerships are those that let each company shine in terms of core competencies. Our technology will provide HDI-Gerling with the efficiencies they were looking for while enabling them to successfully compete in the insurance market today and tomorrow. We look forward to a long and productive relationship.
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