Hamilton, Bermuda (Jan. 22, 2021) – Insurance Systems Inc. (ISI), a provider of enterprise software solutions to the property and casualty insurance industry, is pleased to announce that Mutual Insurance Company Limited (MIC) has rolled out ISI Enterprise for its insurance operations. Headquartered in Hamilton, Bermuda, MIC is a leading provider of media professional liability insurance products throughout North America.
Following a 12-month implementation, MIC is now using ISI Enterprise for all core business functions, including underwriting, billing, claims, accounting, and reinsurance. The project included a full data migration from legacy platforms to a cloud-based deployment through Amazon Web Services (AWS). MIC will benefit from improved access to their core insurance operations solution and increased security of their data, ultimately providing their insureds with superior service.
As we planned to expand our book of business, we needed to find the right technology platform and partner” said Joanne Richardson, President and CEO at MIC, “the implementation team at ISI exceeded our expectations and provided us with a tailored solution to support our growth goals and significantly improve our flexibility, productivity and efficiency,” she added.
ISI Enterprise also enables Mutual Insurance Company to benefit from:
- Improved risk management through systematic controls throughout the policy lifecycle;
- Automated renewal processes to increase underwriter efficiency;
- Integrated accounting functionality with real-time transaction processing;
- Improved decision-making capabilities with ISI Enterprise’s Business Intelligence module;
- Optimized disaster recovery processes with an AWS cloud-based deployment .
“The implementation for Mutual Insurance applied the ‘configure, not code’ methodology by utilizing ISI Enterprise’s out-of-the-box toolset. This results in a more cost effective, less risk-prone implementation as well as a superior user experience.” stated Jevon VandenBerg, Director of Product at ISI.
About Mutual Insurance Company Limited
Mutual Insurance Company Limited was incorporated by an Act of Parliament in Bermuda on March 30, 1961. MIC has a 60-year proven track record as a specialist insurer dedicated to meeting the media industry’s need for professional liability insurance. Today, MIC is one of the largest libel insurance providers open to all media companies, large and small, urban and rural, located in North America, the United Kingdom and select Caribbean countries. These media companies utilize print, television broadcast, radio broadcast, cable, online, and digital delivery of original and licensed content. Mutual Insurance Libel Program protects media companies from the perils that face 21st century creators and providers of content. For more information, please visit www.mutualinsurance.bm.
About Insurance Systems Inc.
Founded in 1997, ISI and its team of insurance professionals are dedicated to developing and implementing innovative software products for the property and casualty insurance industry. ISI’s flagship product, ‘ISI Enterprise’, is ideal for small to mid-size commercial and specialty lines carriers ranging from $10 to $400 million in premiums written annually. Headquartered in Toronto, Canada, the company has a diverse client base of property and casualty insurers. For more information about ISI, visit www.insurancesystems.com.
SOURCE: Insurance Systems Inc.
Tags: Insurance Systems Inc. (ISI), mutual insurance
