Bond-Pro, a provider of Surety and Specialty Insurance software products, announced today that Chubb has expanded its production use of Bond-Pro® Enterprise NextGen® software for its Transactional Commercial Surety business.
Bond Pro’s Next Gen® surety solution provides enhanced automated underwriting and issuance, rating, scoring, decisioning, and workflow, coupled with a comprehensive bond forms library.
“As we expand in the transactional commercial surety space, our objectives include raising the bar on service, reducing operating costs, and mitigating underwriting risk. We desired a modern software platform with a high degree of automation to facilitate underwriting and issuance, rating, scoring, decisioning, and workflow, coupled with a comprehensive bond forms library,” said Teresa Black, Executive Vice-President of Commercial Surety. “The solution we are implementing is designed to provide Chubb with a surety platform that supports high volume commercial surety bond underwriting and issuance and enables our agents direct access to our products and services via the Chubb Surety Marketplace® Portal. These efforts will enable “BTB” integration with major brokers and agencies, and support and expand our Transactional Commercial Surety business.”
Frederick Duguay, President & CEO of Bond-Pro said, “The fact that another one of the largest and most respected Sureties in the United States has implemented our Next Generation Surety solution is a key milestone. We are committed to delivering Surety technology software solutions that allow top-tier insurers like Chubb to enhance service and efficiency.”
Bond-Pro is the developer and publisher of Bond-Pro® Enterprise NextGen®, the leading Surety automation and management software utilized by hundreds of agencies and dozens of surety carriers worldwide. It drives greater premiums, improves underwriting efficiency, reduces costs and mitigates risk. Its enterprise products and services enable Surety professionals to fully computerize and effectively manage the entire Surety life cycle, including Accounts, Jobs, Bonds, and Claims. For more information, please call (813) 413-7576 or visit www.bond-pro.com.
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Chubb (NYSE: CB), an S&P 500 company, is the world’s largest publicly traded property and casualty insurance carrier. It operates in all 50 United States and over 54 countries worldwide. Chubb is ranked the 5th largest carrier by the Surety and Fidelity Association of America. Chubb is rated A+ (Superior) by A.M. Best Company. For more information, please call (866) 324-8222 or visit www.chubb.com.