MONTREAL, QC and CHICAGO, IL — (Marketwired) — 12/16/14 — , developer of completely configurable, SaaS insurance software solutions for property and casualty (P&C) insurers, today announced 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.”
HDI-Gerling America Insurance Company (HDI-Gerling America) is 100 percent owned by HDI-Gerling World Service AG, a part of the Talanx Group and the third largest German insurance group. The company, which began U.S. operations in the late 1970s, is headquartered in Chicago and is licensed in all 50 states, as well as Washington D.C. and Puerto Rico. HDI-Gerling holds an A (Excellent) rating from A.M. Best, and an A+ rating from Standard & Poor. The company specializes in property, general liability, umbrella, inland marine and ocean marine coverages, as well as some auto and workers– compensation programs.
Since 1996, Oceanwide has been delivering SaaS core processing solutions to property and casualty insurers of all sizes across the globe. Our configurable insurance software solutions enable insurers to react to market changes, configure new products and manage their products with increased speed and lower costs for any line of business, virtually eliminating professional service fees. Designed from the ground up to be web enabled and fully configurable without custom programming, our solutions automate policy, billing, claims, underwriting, document management, agent/consumer portals and more for insurers, MGAs, and brokers. For additional information, please visit the Oceanwide website at , or call (888) 289-7744.
Jennifer Overhulse
St. Nick Media Services
859.803-6597
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