“Service, speed and flexibility are at the core of our value proposition to the surety market, and our offering requires a strong technology foundation to deliver on that,” said Dave Pesce, Head of Surety, MRSI, which in May began offering Contract and Commercial surety bonds. “As Munich Re continues to grow our surety business, our focus is to drive automation and manage underwriting risk.
MRSI selected Bond-Pro’s Enterprise Next Gen® as a full SaaS offering, including full hosting capabilities on the Bond-Pro Infrastructure.
“All insurers focus on ease of use and speed-to-market as a differentiating factor,” said Chris Leblanc, chief product and technology officer, Bond-Pro. “But what MRSI has accomplished is unprecedented – they have built a fully-operational business offering from the ground up in less time than many insurers, still tied to legacy systems, take to make a small change to a single insurance product. Bond-Pro is excited to support MRSI in this endeavor and help them as they grow and expand.”
Frederick Duguay, CEO of Bond-Pro said, “Munich Re Specialty Insurance selection further demonstrates how our Next Gen® surety software platform continues to meet the demands of the industry’s largest insurers by automating processing, mitigating underwriting risk, and providing clients with self service capabilities via our portal. We are excited to be partnering with MRSI.”
About Munich Re Specialty Insurance
Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. Munich Re Specialty Insurance offers its clients innovative risk and claims solutions powered by advanced technology and analytics, superior service, and enhanced responsiveness to clients’ needs.
About Munich Re
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to the 2019 Pacific typhoon season. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyberattacks. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals. For more information, visit www.munichre.com.
About Bond-Pro Surety Technology
Bond-Pro, Inc. is the developer and publisher of Bond-Pro Enterprise Next Gen®, the leading surety automation and management software utilized by hundreds of agencies and dozens of carriers worldwide. It drives greater premiums, improves underwriting efficiency, reduces costs, and mitigates risk. Bond-Pro’s products and services enable surety professionals to effectively manage the entire surety life cycle, including account and bond underwriting, scoring, rating, decisioning, bond forms library, claims & collateral administration, reinsurance, and self-service portals. For more information visit https://www.bond-pro.com or call (813) 413-7576.
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