SIMED Selects Oceanwide’s Bridge Insurance Software Suite

Business Wire

Oceanwide’s Smart Configuration and SaaS Expertise Key to Decision

MONTREAL--(BUSINESS WIRE)-- Oceanwide, an Insurity company and developer of industry-leading, configurable, SaaS based insurance software, today announced that Puerto Rico-based insurer SIMED, has selected Oceanwide’s Bridge Insurance Software Suite to support its medical professional liability line of business. SIMED will be using Bridge’s portal, policy administration, rating, billing, claims, document generation, and reporting modules.

SIMED, the largest insurer of medical professional liability for physicians in Puerto Rico, will replace legacy applications with Bridge. Bridge will allow SIMED to improve processes and workflow to gain efficiencies, enhance customer service, and support its value creation initiatives. SIMED wanted to replace its multiple systems with an integrated solution to achieve its efficiency targets and business partner integration.

“The configurability of Bridge was a key factor in our decision along with the depth of SaaS experience and expertise on the Oceanwide team,” said Agustin Montalvo, president, SIMED. “With Bridge, our team will be able to maintain our products and our agent portal that will be available in both Spanish and English.”

“We’re excited to have SIMED as our newest customer,” said Mitchell Wasserman, chief executive officer, Oceanwide. “This is our first implementation of medical professional liability, showing the range and flexibility of Bridge. We are delighted to add our first insurer in Puerto Rico.”

Oceanwide’s Bridge Insurance Software Suite is specifically designed to streamline processing for property and casualty (P&C) insurers, brokers, and MGAs. Bridge features Smart Configuration (no programming or scripting) to provide a system that is configurable by business users. Bridge enables a high degree of self-sufficiency, and can handle multi-lingual and multi-currency transactions.

About SIMED

SIMED, founded in 1986 and based in San Juan, Puerto Rico, is the largest provider of medical professional liability insurance for physicians in Puerto Rico. Since its inception, SIMED has also provided patient safety education, legal counsel, legal defense, and other support to physicians, surgeons, dentists, and hospitals.

For more information, visit: www.simedpr.com.

About Oceanwide

Oceanwide, an Insurity company, delivers SaaS core processing solutions to property and casualty (P&C) insurers of all sizes to enable faster reactions to market changes, easy configuration and management of new and existing products for increased speed and lower costs across all lines of business, virtually eliminating professional service fees. Web-enabled and fully-configurable by end users without custom programming, Oceanwide’s insurance software solutions automate core administration (policy, billing, and claims), as well as underwriting, document generation, agent/consumer portals and reporting. Globally, Oceanwide’s software fills gaps in existing legacy systems and provides a modern, end-to-end solution for insurers. For additional information, please visit the Oceanwide website at www.oceanwide.com, or call (888) 289-7744.