Preferred Concepts Selects FirstBest Front Office Suite to Expand Agency and Carrier Bases and Power More Programs

Suite Will Enable MGU to Deliver Market-Leading Agent Service and Support for Multiple Carriers

BEDFORD, Mass.--(BUSINESS WIRE)-- FirstBest® Systems, Inc.,provider of insurance software solutions for commercial-lines insurance carriers, MGAs and MGUs, today announced that Preferred Concepts, LLC. has selected FirstBest’s underwriting management systemand agent portal to serve as its online customer platform. The initiative will enhance the experience of Preferred’s online customers.

“We wanted to bring our customers a comprehensive service platform,” commented Stuart Farber, Chief Executive Officer of Preferred Concepts. “We’ve always been early adopters of technology and partnering with FirstBest takes our existing platform to its next evolutionary step.”

Preferred Concepts provides underwriting solutions and specialty brokerage services to insurance agents and brokers nationwide. Founded by Stuart Farber in 1989, the company expanded its program business offerings in 2010 with the acquisition of Mercator Risk Services, a national wholesaler. Most recently, Preferred launched SeaFire Insurance Services, a managing general underwriting agency created specifically to address the P&C risks of the auto industry.

Christopher Treanor, Executive Vice President of Preferred Concepts noted, “The new FirstBest platform makes it quicker and easier for agents and brokers to manage their workflow. A smoother workflow saves agents time and money.”

Released in November 2010, the FirstBest Front Office Suite helps to transform and grow business and agent and carrier relationships, increase visibility into the business and enable rollout and management of a broader array of programs. Carriers, agents and brokers can work more closely with MGUs and MGAs to rapidly submit, quote, evaluate, and win business.

The Suite’s expanded channel support enables MGUs or MGAs to work within a carrier’s underwriting binding authority and controlled market and risk criteria. Now, they can provide A-class service and a larger portfolio of products to attract a broader array of agents and win more business.

“MGUs and MGAs play important roles in the commercial-lines distribution cycle and those who produce consistently profitable underwriting results in all market cycles gain carrier attention,” said John Belizaire, Founder and CEO, FirstBest Systems. “We deliver Web 2.0 collaborative capabilities as part of the FirstBest solution, packaged with program management tools that enable MGUs and MGAs to reliably quote and bind business on behalf of carriers, within predefined risk and market parameters. It’s a win-win-win: The carrier has peace of mind, the MGU or MGA can offer more programs, and agents can provide competitive choices to their clients.”

About Preferred Concepts

Preferred Concepts specializes in providing agent and brokers nationwide with quick and efficient access to insurance programs and placements that reflect optimal terms and conditions, sensible pricing, quality and service, and professional expertise. Preferred provides on-line umbrella liability solutions through ezumbrella.com as well as P&C program solutions for real estate and hospitality risks. Wholesale brokerage services are provided through Mercator Risk Services. Preferred Concepts is also the parent company of SeaFire Insurance, a managing general underwriting agency specializing in automobile, recreational vehicle and motorcycle dealers, as well as collision and mechanical repair facilities. The Preferred Concepts family of companies is headquartered in New York with offices in Atlanta, Hartford, Los Angeles, San Francisco, Westport (CT), and Overland Park (KS). For more information, visit www.preferredconcepts.com.

About FirstBest

FirstBest® Systems delivers insurance software solutions that help MGUs, MGAs, standard commercial- and specialty-lines carriers drive premium growth, scale their business and achieve high service levels with agents. The proven FirstBest Front Office Suite includes modular agency upload, agent portal and underwriting workstation applications. Companies such as AMERISAFE, Inc., a specialty writer of workers' compensation insurance for hazardous industries, ICW Group Insurance Companies, a multi-line super regional insurer, and Pacific Compensation Insurance Company, a specialty writer of workers’ compensation insurance, rely on FirstBest solutions to improve underwriting efficiencies and quality, institutionalize knowledge and best practices, and empower everyone in the process to quote, collaborate, issue, and bind business on a single real-time platform. For more information, visit www.firstbest.com or call (888) 863-6095.

FirstBest is a registered trademark of FirstBest Systems, Inc. FirstBest UMS, Underwriting Management System, FirstBest Agent, FirstBest AppReader, FirstBest Front-Office Suite, and Agent-Carrier Connection are trademarks of FirstBest Systems, Inc.All other trademarks are property of their respective owners.

Preferred Concepts, LLCTara L. Cummins, 203-226-8772
Senior Vice President
tcummins@preferredconcepts.com
or
FirstBest Systems, Inc.Meira Primes, 781-863-6050
mprimes@firstbest.com

Source: FirstBest® Systems