eSURETY: Empowering Tomorrow's Surety Needs Today!

Daniel Buckles, Owner, eSURETYDaniel Buckles, Owner
Carriers in the surety marketplace have long aspired for more intuitive tools for underwriting. In a steadily evolving industry that was once bound by legacy systems and practices, automation is transforming our expectations and how we do business. In the past, underwriting and the processes behind most bonds and their subsequent lifecycle events have been notoriously manual, high-touch, time-consuming, and very costly. Luckily, for the past 20 years, eSURETY™, a Florida-based technology provider for insurance carriers in the surety space, has been pioneering and facilitating modern innovations in underwriting.

eSURETY™ started with a mission to create a powerful, automated, low-to-no-touch user experience for carriers and agencies that spans throughout the entire lifecycle of a bond. The company was one of the first to introduce browser-based solutions to streamline underwriting processes and provide API connectivity. Through the years, eSURETY™ has helped foster digital transformation within the traditional surety marketplace, which is well known for being slow to embrace change.

“In 2011, we re-engineered and re-launched eSURETY™ as version 6 utilizing Azure cloud-based hosting. eSURETY™ version 6, enhanced the usability of our legacy version 5 carrier deployed system and moved everything into the cloud for greater interconnectivity in this age of enterprise mobility,” says Daniel Buckles, the CEO and founder of eSURETY™.

The company helps automate the tasks of underwriters by providing all the powerful and necessary tools that they need and more. eSURETY™’s streamlined approach gives an upper hand to underwriters in identifying qualified applicants and price points via web API calls. Each bond application can be accurately and instantaneously evaluated with customizable sets of underwriting questions, and defined rules around credit report data, penalty amount, etc.

eSURETY enables carriers to underwrite, quote and issue surety bonds with greater speed, better efficiency, lower cost,and enhanced agent satisfaction

eSURETY™’s powerful back-end enables its users to quickly and easily update information for appraising risks, as well as setting the right quotations for their risks. Each carrier or underwriter can create case-specific templates to view and analyze project or account data easily. Hosted in the cloud, eSURETY™’s browser-agnostic solution renders itself as mobile ready to enable users to both purchase and access secure, up-to-date information about surety bonds on the fly.

“Adherence to security and compliance best practices is another integral part of our SaaS solution. All our systems meet the regulations by being secured under PCI DSS Level 1 and SOC 2 compliance,” adds Buckles.

With their cutting-edge product line and service model, eSURETY™ has become the go-to entity for many insurance carriers, MGAs, and even startups. Infact today, surety startups account for one-third of eSURETY™’s newest customers. In their effort to get into the market as soon as possible while delivering a high-level experience to their clients, these startup organizations demand solutions that are readily deployable, scalable, and ones that support regulatory adherence and internal audit compliance right out of the box. eSURETY™’s analytics-enabled and compliant end-to-end products for streamlining surety provide the one-stop-shop solution for these fast-paced millennial-market targeting entities. Also, the capabilities of its solutionareso flexible that it supports multiple languages and currencies, to name a few. Furthermore, eSURETY™ will soon leverage PowerBI—Microsoft’s cutting-edge analytics and visualization tool—to help their clients identify underserved markets, analyze trends, and for reporting standardization.

Having proved their proficiency in catering to insurance companies of all sizes during the past 20 years, eSURETY™ is rightly positioned as the market leader for surety underwriting automation.