Digital Transformation For Fiduciary Bonds

A 2018 ICTA nomination

Toronto, ON (Jan. 24, 2018) – Praesto Presto uses Kerby-Reid’s FLEX online platform to offer estate bonds and an executor errors and omissions product to law offices across Canada. The platform offers full self-service workflows including application, underwriting, quoting/rating, payment processing and document issuance. The software also manages the full bond and policy workflow including endorsements, renewals and cancellations. The product is separately branded for individual law firms – new implementations can be launched with less than an hour’s effort.

 Using the technology, lawyers can start the application process on behalf of their clients and invite them to complete it or can complete the entire process for the client. The carriers (Trisura Guarantee and Intact) can interact with the workflow using the FLEX online interface for cases where the underwriting authorities are exceeded.

Self-Service Benefits

This implementation is the first time that fiduciary bonds have been available online in Canada with complete self-service workflows. The system automates the entire process, including the full policy lifecycle, pricing overrides and underwriting approvals, and renewal notifications, which saves time and money for both Praesto Presto and its carrier partners.

About Praesto Presto Limited

Praesto Presto provides wholesale insurance to other insurance brokers and innovative direct-to-consumer specialized insurance and surety bond products through an on-line portal. For more information, visit praestopresto.com.

About Kerby-Reid Inc.

Kerby-Reid is a developer of commercial insurance and surety software. We offer an online, self-service, underwriting, sales and issuance platform optimized for program business, specialty lines, and surety. Visit kerbyreid.com for more information.

SOURCE: Praesto Presto Limited

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