Cloud deployment of Policy Administration, Billing, Rating and Underwriting accelerates insurer’s speed-to-market and reduces total cost of ownership
MILPITAS, Calif.–(BUSINESS WIRE)–June 5, 2017–
CodeObjects today announced that United Insurance Holdings Corp. (“UPC Insurance,” NASDAQ:UIHC), a leading property and casualty insurance company, has successfully gone live with Insurance Enterprise in the cloud. Insurance Enterprise delivers key benefits with its full configurability, speed to market and enhanced agent experience. By virtue of being fully cloud-enabled using Amazon Web Services, Insurance Enterprise reduces UPC’s IT infrastructure costs.
UPC’s deployment of Insurance Enterprise includes policy administration, underwriting, billing, and rating, along with ancillary functions like distribution management, G/L accounting integration, cash processing, forms generation, content management, and operational reports. Through this deployment, UPC Insurance can now define rating algorithms, underwriting, billing rules, forms development and report generation by way of simple configuration. As a result, UPC is able to launch new states and products in support of its growth initiatives more quickly.
“We anticipate launching new states and products faster and at a lower cost as we move forward,” said Andy Swenson, Chief Information Officer (CIO) of UPC. “Moreover, we anticipate significant savings on the updating and maintenance of the ongoing states once they are in production. Most importantly, we expect the CodeObjects platform to improve our agent and policyholder experience.”
“Configurability and cloud are the key priorities we focused on from day one,” said Anil Annadata, CEO of CodeObjects. “Configurability delivers speed to market, and cloud enables our customers to reduce their IT infrastructure investments. We are thrilled to see UPC Insurance realize the benefits of Insurance Enterprise,” Annadata added.
CodeObjects is a P&C insurance software provider with the mission of leveling the competitive playing field for mid-size insurance carriers. CodeObjects offers ready-to-use, fully configurable insurance process management solutions running in the cloud, enabling quick and easy deployment. CodeObjects’ process management solutions support the insurance enterprise by going beyond the core of policy, billing, rating and claims, and also delivering built-in business intelligence and all the ancillary touch points. For additional information on CodeObjects and its product and service offerings, visit www.codeobjects.com.
About UPC Insurance
Founded in 1999, UPC Insurance is an insurance holding company that sources, writes and services residential property and casualty insurance policies using a network of independent agents and a group of wholly owned insurance subsidiaries. UPC currently writes policies in Connecticut, Florida, Georgia, Hawaii, Louisiana, Massachusetts, New Jersey, New York, North Carolina, Rhode Island, South Carolina and Texas, and is licensed to write in Alabama, Delaware, Maryland, Mississippi, New Hampshire, and Virginia. UPC Insurance also has a commercial residential product in Florida. UPC’s commercial presence was further expanded by its recent merger with Florida’s largest commercial residential property writer, American Coastal Insurance Company. From its headquarters in St. Petersburg, UPC Insurance’s team of dedicated professionals manages a completely integrated insurance company, including sales, underwriting, customer service and claims. For additional information on UPC Insurance, visit upcinsurance.com.
Vice President, Product Marketing