First Tier Underwriters Selects Cogitate to Digitalize Underwriting and Policy Operations
Cogitate Technology Solutions announced today that First Tier Underwriters (FTU) has selected Cogitate DigitalEdge Policy (DEP) to replace its proprietary policy system, help digitalize and streamline its new business, underwriting, and policy administration process and enable future growth and scale. FTU is a Georgia-based specialty insurance wholesaler offering residential and commercial property and flood coverage in coastal areas. With over 100 years of insurance industry experience, Cogitate has developed a full stack of next-generation technology products and solutions that help insurance carriers and intermediaries accelerate digitalization and fuel growth.
“Our immediate goal is to replace our proprietary system with the out-of-the-box offering of DigitalEdge Policy and secure this long-term partnership to support our technology going forward. The value proposition allows us to establish our base functionality today, with the option to address greater operational needs as we expand,” explained Ty McGinty, President of FTU and Risk Management Advisor at McGinty-Gordon & Associates.
McGinty highlights game changers of the implementation to include a streamlined quoting process, the ability to quota share across one or more Lloyd’s contracts, improved forms generation and version control, integration of proprietary rating engines and carrier raters, and bordereau reporting and analytics.
“We’re excited to support First Tier Underwriters as they journey from a home-grown system to our cloud-native, digital platform. This is a great example of the launch of out-of-the-box capabilities to hit the ground running with expanded functionality over time in a manner that meets FTU’s ROI requirements,” shared Tushar Bhole, Executive Vice President of Sales and Partnerships at Cogitate.
Servicing the insurance industry for over a decade, Cogitate’s platform is not only purpose-built to manage the full policy lifecycle, but also highly customizable to solve specific challenges of those stages managed by MGAs, MGUs, Program Managers, and Wholesalers. Cogitate’s momentum in this sector reflects an understanding of these unique business models and how technology can advance business goals through digitization, data analytics, and greater connectivity across the insurance ecosystem.
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