Majesco TL
Follow Us
ITA MEMBERSHIP

INSURANCE TECHNOLOGY NEWS

INSURANCE TECHNOLOGY NEWS

Insurity Announces Merchants Bonding Company in Production with SIMS Claims

Staff Writer | November 29, 2017

Insurity, a leading provider of core insurance processing and data integration and analytics solutions, today announced that Iowa-based mutual company Merchants Bonding Company is in production with SIMS Claims to support administration of its surety bond claims.  After a six-month implementation, Merchants Bonding has successfully replaced its legacy claims system with SIMS Claims to provide a modern platform enabling simplified and streamlined claims processing and an environment able to support future growth.

As a growing company, Merchants Bonding felt its in-house developed legacy environment no longer met its operating needs, as processes were inefficient and often required multiple entries into different systems.  After selecting and implementing SIMS Claims, the company is now able to handle all of its surety bond claims processing needs on the single Insurity system which is integrated with the existing accounting system and compatible with the company’s database.  Given the unique capabilities required to manage surety bond claims, the configurability of SIMS Claims was especially beneficial to address Merchants Bonding’s needs.

Commenting on the successful implementation, Steve Dorenkamp, vice president of claims with Merchants Bonding Company, said, “As a company, we are looking to increase our overall premium and market share, but our previous claims technology did not meet all of our growth plan needs. Making the transition to the SIMS Claims management system has proven to be a very good business decision.  Since being live on the system, we have already experienced the efficient, simplified and streamlined environment necessary. We are confident our constant evolving needs will be met, while maintaining a cost-effective operating environment and continuing to provide only the highest quality of service.”

Jay Stukerjurgen, Merchants Bonding Company’s assistant vice president of IT, added, “The SIMS Claims implementation has been a big win for us.  Working closely with the Insurity SIMS Claims team we stayed on schedule and met our go-live timeline. We were especially pleased with the ability to configure the system to support the unique requirements for surety bond claims – which was one of our key reasons for selecting the system.  From reporting to analytics to customer service, we’ve seen improvements in all areas of claims processing.”

“We congratulate Merchants Bonding Company on the success of the project and for the opportunity to work side-by-side with their implementation team.  Surety bond claims are a unique animal and our ability to configure the system for the line of business’ specific requirements demonstrates the flexibility of SIMS Claims as well as the depth and breadth of functionality,” stated Jose Tribuzio, Insurity’s general manager and senior vice president for SIMS Claims.


Featured articles

MT MR

MT 160x600

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

ITA LIVE 2019

The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News