Insuranceciooutlook

eSURETY V7 Deployed to Automate the Surety Bond Lifecycle Process

By Insurance CIO Outlook | Friday, July 12, 2019

Daniel Buckles, CEO and Founder

eSURETY will enable carriers to underwrite, quote, and issue surety bonds with greater ease, speed, efficiency, cost-effectiveness, and agent satisfaction.

FREMONT, CA: For too long, the surety sector was held back by outdated legacy systems and archaic approaches. The processes behind underwriting and bonds have been rather time-consuming and expensive. However, the premier surety bond software developer eSURETY is set to cast aside the chains of archaic approaches with its robust automation solutions.

The eSURETY V7 will facilitate the integration of its core cloud-based PaaS features, allowing users to consolidate multiple operational and analytic workloads on a secure, Soc 2 Type II platform. The augmented Rest APIs enable better connectivity to applications and databases. Users can leverage the built-in PowerBI Analytics to assess and analyze new opportunities.

The platform is equipped with an intuitive and simplified user interface designed for speed and efficiency. The bond configuration services enable the users to streamline processes such as setting up and maintaining bond configurations. With its robust offerings, the company is seeking to expand its footprint and client base across a broader range of surety products on a global level.

Based in Florida, the privately held company is delivering robust solutions to the surety sector since 1998. It was founded to provide simplified automation for agencies and carriers involved in the lifecycle of a bond. It has helped the surety sector in automating the bond underwriting process. Its eSURETY platform enables surety agents to create and issue new bonds online while adhering to the regulatory compliance requirements.

Daniel Buckles, the CEO, and Founder of eSURETY said, “For the last 21 years, eSURETY has developed the best enterprise-level software for automating processes such as underwriting, operations, bond lifecycle management, agency management, and surety analytics. By consolidating our market experience, new tools, extensive enhancements, and a modern UI, we have created a simplified, accurate, and surety specific software platform for carriers, MGAs, and their agents.”

The company equips surety underwriters with the best tools to automate their processes. Its streamlined approach enables users to identify qualified applicants and price points via web API calls. By leveraging the platform, users can instantaneously and accurately evaluate the bond applications with customizable underwriting questions, credit report data, penalty amount, and so on.

“We reengineered and re-launched eSURETY in 2011 as version 6 using Azure cloud-based hosting,” Buckles said. “The new version enhanced the usability of the legacy version 5 carrier deployed system, moving everything to the cloud for greater interconnectivity in the age of enterprise mobility.”

The eSURETY platform also allows users to update information for risk appraisals and quotation setting seamlessly. The carriers and underwriters can create case-specific templates to evaluate the project and account data. The browser-agnostic solution is hosted in the cloud and offers mobile options for users to purchase and access secure information about surety bonds.

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