(Tuscaloosa AL) – Insuresoft, a leading insurance transaction processing solution provider for property and casualty insurance carriers, is pleased to announce the implementation of Armed Forces Insurance (AFI), the California Earthquake Authority’s (CEA) second participating insurer (PI) to go live on their Central Policy Processing (CPP) program. Through the coordinated efforts of Insuresoft and the CEA’s partner companies, the implementation and conversion was completed in less than six months.
In 2015, CEA selected Insuresoft to provide centralized policy-administration functions for CEA residential earthquake coverage, available only for California residential properties. Made available by CEA to its 24 PIs, which together represent some 80% of the residential property insurance in the state, Insuresoft’s Diamond Suite offers economies of scale, simplifies the data exchange between CEA’s central system and its PIs, and establishes efficiencies for both CEA and PIs, ultimately benefitting CEA’s policyholders. Insuresoft provides the functionality and configurability required by CEA, in addition to deeply experienced technical and insurance resources.
Red Hawk Insurance Services, Insuresoft’s implementation partner company, assisted on the implementation and conversion of AFI’s earthquake insurance book of business. Covenir, Insuresoft’s BPO partner company, will provide a complete suite of back-office processing for AFI.
“We selected Insuresoft in a rigorous, competitive procurement process. We are pleased to be working with them as we continue to build and implement our CPP program,” said CEA Chief Information Officer Todd Coombes. “CPP is very important to CEA. PIs will find it much easier and more efficient to work with us, and its technical platform supports our future product innovation. We believe this will be great for both PIs and CEA policyholders.”
“We are thrilled to have AFI as a client through CEA’s CPP program,” said Tony Villa, CEO of Insuresoft. “CEA has been a true partner through these initial rollouts, and we have built the foundation for a successful long-term relationship with them and their PIs. Bringing AFI onboard in less than six months is a real testament to not only the power and flexibility of the Diamond Suite, but also the structure we’ve put in place with CEA. Our teams worked together to establish repeatable processes and procedures that will enable us to quickly and effectively bring on the remaining PIs to the CPP program. We look forward to bringing additional PIs onboard even faster.”
About Armed Forces Insurance
Armed Forces Insurance was founded in 1887 by military leaders with a single mission: to protect the property of those who protect our nation. The company provides premium quality, competitively priced property and casualty insurance to military professionals throughout the United States and overseas. Armed Forces Insurance understands that its members have unique circumstances and insurance needs, enabling the company to offer a level of personalized service that’s unequalled in the industry. For more information, visit the website at www.afi.org or call 1-800-495-8234, and follow us on LinkedIn, Facebook, Twitter and Instagram.
CEA is a not-for-profit, privately funded, publicly managed organization that provides residential earthquake insurance and encourages Californians to reduce their risk of earthquake loss. People choosing CEA insurance get the Strength to Rebuild® after damaging earthquakes.
Insuresoft is a Microsoft Gold Certified software developer serving the property/casualty insurance industry. Insuresoft offers a fully integrated policy, billing, and claims-processing platform. Insuresoft is in production in nearly 30 insurance companies and MGAs across all 50 states, processing $1.5B in personal- and commercial-lines premiums annually. The platform is scalable, configurable, and cost-effective. Insuresoft is privately held, with offices in Tuscaloosa, AL, and University Park, IL. For more information, please visit www.insuresoft.com, email firstname.lastname@example.org, or call 866-299-1314.