Company Overview of FirstBest Systems, Inc.
FirstBest Systems, Inc. develops and markets insurance software solutions to property and casualty, and workers’ compensation insurers and agents to solve their underwriting and distribution channel challenges. The company offers FirstBest Front Office Suite of software applications that enable commercial and specialty lines insurers, agents, brokers, MGAs, and MGUs to submit, evaluate, quote, and close business. Its software suite includes FirstBest UMS, an underwriting workstation combined with a Web 2.0 agent portal for underwriting workflow and real-time carrier-agency collaboration; FirstBest Agent, a point-of-sale portal with supplemental data, shared documents, notes, and email notifi...
213 Burlington Road
Bedford, MA 01730
Founded in 2006
Key Executives for FirstBest Systems, Inc.
Co-Founder, Chief Executive Officer, Co-President and Director
Co-Founder, Chief Operating Officer and Director
Vice President of Marketing & Communications
Vice President of Human Resources
Compensation as of Fiscal Year 2014.
FirstBest Systems, Inc. Key Developments
AIR Worldwide and FirstBest Collaborate to Provide Integrated Underwriting Solution
Apr 1 15
AIR Worldwide and FirstBest Systems announced the companies will integrate AIR's catastrophe modeling solution with the FirstBest underwriting management system. The collaboration between the two organizations allows data and analytics on commercial risk to be incorporated into the commercial lines underwriting workflow of property/casualty insurers. AIR Worldwide is a Verisk Analytics business. The solution will integrate AIR's cutting-edge catastrophe modeling and noncatastrophe analytics from its Touchtone(R) platform with FirstBest UMS(R), a underwriting workstation, to incorporate risk analytics in one comprehensive underwriting decision process. For commercial insurers, particularly those that write multifaceted commercial risks, including excess and surplus (E&S) writers, data such as risk scores, summary reports, loss analysis, and marginal impact to portfolio can now be used to make more precise, data/analytics-driven underwriting decisions.
FirstBest Systems, Inc. Announces General Availability of Firstbest Insight
Jan 20 15
FirstBest®Systems, Inc. announced the general availability of FirstBest Insight, the integrated analytic module of the FirstBest Underwriting Management System (FirstBest UMS®). FirstBest Insight provides comprehensive, actionable visibility into underwriting data and workflows. It supports precise risk assessment, informed decision making on pricing, and deep awareness about underwriting transactions and dependencies. With FirstBest Insight as the analytic engine of UMS, underwriters become highly informed at the point of underwriting decision, increasing their overall productivity with risk assessment and submissions. Underwriters gain timely information to manage distribution channels and collaborate more effectively with agents. Underwriting managers gain refined knowledge to identify and address operational bottlenecks for more efficient underwriting across the enterprise. Based on the data within UMS, FirstBest Insight gives underwriters and their managers quick access to granular trends and "what-if" information about books and mix of business, amount of time at each step in submission processing, written premium, and comparisons of automatic and manual submissions. Available for commercial and specialty lines of business, FirstBest Insight evaluates line-of-business performance, underwriter or producer workloads, and much more — in real time.
FirstBest Systems, Inc. Announces New Technology, FirstBest Dynamic Synchronization
Nov 4 14
FirstBest Systems, Inc. announced FirstBest Dynamic Synchronization, a new technology that enables carriers to access Accenture Duck Creek's product definitions within the FirstBest UMS underwriting workstation. The pre-integrated solution will enable carriers to reduce the cost of implementation and maintenance, improve the customer experience and accelerate the delivery of new and changed products to their customers.FirstBest Dynamic Synchronization accesses Accenture Duck Creek's product definitions, screen/field behaviors and workflows to drive related behaviors within the FirstBest UMS(TM) underwriting workstation. FirstBest Dynamic Synchronization lets business analysts create product definitions, behaviors and workflows within Duck Creek Policy for use in both the policy system and the FirstBest UMS underwriting workstation, creating a single point of change that can result in increased efficiency and fewer errors. Fully integrated and synchronized with Accenture Duck Creek Policy, the configurable FirstBest UMS underwriting workstation is a virtual cockpit that brings together all of the people, data and analytics in a collaborative underwriting process. Underwriters can rapidly submit, evaluate, collaborate and quote new and renewal business from one place. FirstBest UMS has helped carriers to improve underwriting speed and profitability, scale their business and achieve high service levels with agents/brokers, across the enterprise. In addition, FirstBest has joined the Accenture Duck Creek global alliance partner program, which opens the Accenture Duck Creek architecture in new ways and expands capabilities for Accenture Duck Creek clients, allowing for solutions to be implemented more seamlessly and quickly.
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