Insurance software provider FirstBest® Systems, Inc., developer of advanced Underwriting Management Systems™ (UMS) for commercial insurance carriers, has been named one of six outstanding "Up and Coming Technology Firms, Class of 2008," by independent research firm Financial Insights, an IDC company. FirstBest was also singled out as the only provider of "disruptive technology," widely defined as an innovation that overturns the status quo and brings significant change to an industry.
Bedford, MA (PRWEB) October 08, 2008-- FirstBest® Systems, Inc., developer of advanced Underwriting Management Systems™ (UMS) for commercial insurance carriers, has been named one of six outstanding "Up and Coming Technology Firms, Class of 2008," by independent research firm Financial Insights, an IDC company. FirstBest was also singled out as the only provider of "disruptive technology," widely defined as an innovation that overturns the status quo and brings significant change to an industry.
"Beyond the Traditional Short List: Up and Coming Property and Casualty Insurance Technology Firms Class of 2008," by Barry Rabkin, senior research analyst, Insurance Practice, is the first in a series of annual reports that profile a group of selected up and coming technology firms that support the insurance industry. The main objective of these annual reports is to help insurers think beyond their traditional short list, alert technology firms about firms they might acquire or partner, and identify for venture capital firms emerging technology firms for potential tracking, investment, or acquisition.
"FirstBest has developed a strong brand that is synonymous with next-generation Underwriting Management Systems and quality customer service. The FirstBest UMS is enabling P&C carriers to write more profitable business by collaborating in real-time with their agents on a Web-based platform - technology that is desperately needed in the industry," said Barry Rabkin, senior research analyst, Insurance Practice, Financial Insights, and the report's author.
"We are delighted to be named to this important list and appreciate our unique distinction as providers of a 'disruptive technology.' The FirstBest UMS combines a rich agency portal with next-generation underwriting capabilities for commercial lines carriers. Our goal is to be as innovative as our best customers - forward-thinking companies that are investing in new technologies to leapfrog their competitors, grow and scale their businesses profitably, and become the carrier of choice to their agents," said John Belizaire, CEO, FirstBest Systems.
In future years, Financial Insights will review the progress of past "up and coming" firms in addition to the annual report about that year's class. This report is based on interviews conducted in January through April 2008 and Financial Insights' analysis of the information collected. For more information on obtaining this report, "Beyond the Traditional Short List: Up and Coming Property and Casualty Insurance Technology Firms Class of 2008," (Doc # FIN213323), please contact sales@financial-insights.com.
About FirstBest
FirstBest® Systems, Inc. delivers advanced Underwriting Management Systems™ (UMS) that enable insurance companies to write more business and write better business. The FirstBest UMS™ combines a rich agency portal with next-generation underwriting capabilities for commercial lines carriers. Insurers can achieve greater speed and business agility, provide real-time collaboration to make it easy for agents to do business with them, promote enhanced underwriting discipline and best practices, scale their book of business profitably, and empower underwriters and agents with greater visibility into the business.
For more information, please visit www.firstbest.com or call 1.888.863.6095.
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