July 27, 2016
Frankenmuth, MI and Tampa, FL USA – Frankenmuth Surety, a division of Frankenmuth Insurance, and Bond-Pro, LLC, a provider of Surety and Specialty Insurance software products, today announced that Frankemuth has selected Bond-Pro®, as its enterprise platform for total surety lifecycle management including account and bond underwriting, rating, forms generation, claims & collateral administration, reinsurance, and bond accounting including billing and payments.
“As a surety start-up, Frankenmuth was looking for a comprehensive solution that we could implement in a very compressed window. Bond-Pro® Professional™ met our needs and we can’t say enough great things about the Bond Pro implementation team, said Steve Coward, Vice-President of Surety at Frankenmuth. “They exceeded our expectations and have been great to work with. Knowing that we have such a mature, feature rich, platform gives us enormous flexibility as to how we construct the initial build-out and then expand our footprint.”
Frederick Duguay, President & CEO of Bond-Pro, LLC said, “The entry of new competitors into the Surety marketplace certainly increases the demand for our products and services. But we are very pleased that after evaluating the alternatives, a large majority of these Sureties purchase Bond-Pro®. This is solid testament to the broad industry acceptance of our solutions and Bond-Pro’s continued strengthening of our leadership position among competitors within our niche.”
Coward continued, “I was familiar with Bond-Pro® Professional™ and have had the opportunity to compare it with other systems in recent years. I’m impressed with how the platform has evolved which is important to us as we are constantly striving to advance our underwriting platform. Clearly, Bond-Pro® senior management is committed to consistent improvement and keeping their platform ahead of their competition. So when the time came here to make a decision on Surety software, I was very comfortable selecting Bond-Pro® Professional™. And while familiarity with the product drove our decision, we are excited after seeing what Bond-Pro NG has to offer us in the future. I believe it will be a big step forward technologically for our industry.”
Bond-Pro, LLC, is the developer and publisher of Bond-Pro®, the leading Surety automation and management software utilized by numerous insurance carriers and over 200 agencies. Its enterprise solution enables Surety professionals to fully computerize and effectively manage the entire life cycle of Commercial, Contract, and Fidelity Bonds. Learn more at www.bond-pro.com.
About Frankenmuth Surety
Based out of Frankenmuth, Michigan Frankenmuth Insurance is a regional writing company that provides insurance products and services via a network of more than 500 Independent Insurance Agencies over 15 states. Frankenmuth is rated ‘A’ (Excellent) by A.M. Best and ‘A’ (Strong) by Standard & Poor’s. Learn more at www.fmins.com.