XL Group Selects FirstBest to Power New Global Underwriting Platform Delivering Underwriting Excellence Worldwide

BEDFORD, Mass.--(BUSINESS WIRE)-- FirstBest® Systems, Inc., provider of insurance software solutions for global insurance carriers, MGAs and MGUs, today announced that the global insurance and reinsurance company, XL Group plc (XL) (NYSE: XL), has selected the FirstBest Underwriting Management System (UMS) as the foundation of their Global Underwriting Platform. The strategic relationship includes integration, configuration and rollout of collaborative underwriting applications for all of XL’s business units, beginning with North America.

Robin Arendt, Global CIO, XL Group (Photo: Business Wire)

“XL is committed to underwriting excellence, our business’ single greatest driver for strategic and profitable growth. Our decision to roll out the FirstBest Underwriting Management System is truly a transformational initiative for the core of our business and will play a key role in improving loss and expense ratios, enabling us to free up capacity for growth and expansion,” stated Seraina Maag, Chief Executive, XL’s North America Property and Casualty group. Ms. Maag directs XL’s multiline P&C insurance operations in the U.S. and Canada, including underwriting activities for General Property, U.S. Risk Management, Excess Casualty, N. America Programs, and Environmental and Excess & Surplus coverages.

"We are evolving technology globally to be on a single scalable platform that leverages disparate back-end systems and provides the greatest consistency, operating efficiency and quality across business units. Powered by FirstBest, the flexible underwriting workstation and portal will enable our business units to respond rapidly to new market opportunities and changing market conditions,” added Robin Arendt, XL’s Global CIO.

The company-wide initiative will give users a single impressive underwriting desktop, providing seamless access to third-party systems for pricing, risk management, legacy integration, and reporting. The innovative, web-based FirstBest UMS will enable XL to provide their underwriting talent with the utmost support, intelligence and efficiency possible, as well as speed turnaround for improved broker and client service. The system will be integrated with multiple enterprise back-office systems, including policy admin, pricing spreadsheets, document management, and comprehensive risk analysis data — as well as CRM and broker management systems — to give underwriters a dynamic and uniform user experience globally, regardless of underlying systems.

“The days of business as usual are long gone. To thrive in today’s rapidly changing environment, the most successful insurance carriers are transforming their underwriting functions. As part of their long-term enterprise risk strategy, XL is investing in intuitive technologies that help dynamically minimize risk and capital exposures at an enterprise level,” said John Belizaire, CEO and Founder of FirstBest Systems. “Our team is thrilled to be partnering with such an innovative and industry-leading global carrier.”

XL Group Insurance Segment

The Insurance segment of XL Group plc offers property, casualty, professional, and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit www.xlgroup.com/insurance.

XL Group plc

XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies, and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. Its principal offices are located at No.1 Hatch Street Upper, 4^th Floor, Dublin 2, Ireland. To learn more, visit www.xlgroup.com.

FirstBest Systems, Inc.

FirstBest® Systems delivers insurance software solutions that help global insurance companies improve underwriting profitability, scale their business and achieve high service levels with agents. The proven FirstBest Front Office Suite includes modular underwriting workstation, agent portal and agency upload applications, with capabilities for mobile users. Companies such as XL Group plc, a global insurance and reinsurance company, ICW Group Insurance Companies, a multi-line super regional insurer, Pacific Compensation Insurance Company, a specialty workers compensation insurance writer, and Preferred Concepts, LLC., a national managing general underwriter, 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 from anywhere. To learn more, call 888-863-6095 or +1-781-863-6000, or visit www.firstbest.com.

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

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FirstBest SystemsMeira Primes, +1 781-863-6050
[email protected]
or
XL GroupChristine Weirsky, +1 610-968-9395
[email protected]

Source: FirstBest Systems, Inc.