San Mateo, Calif. – September 27, 2022 – BriteCore, a next-generation provider of cloud-native core administration solutions for property and casualty (P&C) insurers, is pleased to announce Great Bay Insurance Company (Great Bay), a Demotech A-rated insurance company based in West Atlantic City, New Jersey, successfully implemented the BriteCore Platform for policy management, billing, and claims management and exceeded growth expectations.
Great Bay was established as a company to provide admitted homeowners with homeowners insurance coverages designed to handle the challenges specific to coastal New Jersey residents. The company’s mission is to offer tailored policies to fit individual homeowners according to property age, type, and location instead of based on skewed demographics from a larger, regional risk pool. Great Bay selected the BriteCore Platform for its modern user interface (UI), intuitive quoting and claims functionality, standard integrations with vital data sources, and flexible reporting options.
“BriteCore’s expansive functionality allowed us to accomplish an incredible amount in a very short time when we launched as a company,” said Tim Byrne, CEO for Great Bay. “We’re very grateful for the opportunity to work with BriteCore to enable Great Bay to thrive as a startup P&C insurance provider delivering high-quality products and tailored customer service.”
Byrne additionally credits BriteCore’s efficient digital processes and automation as being foundational to Great Bay’s continued success. In fact, in just the company’s first two years of operations, BriteCore’s flexible, easy-to-use quoting and claims functionality helped Great Bay quickly grow direct written premium (DWP) from zero to $30M. And, during the COVID-19 pandemic, BriteCore’s cloud-native core platform enabled Great Bay’s staff to transition seamlessly to and from remote work without business interruption. Great Bay’s agents are BriteCore fans as well, citing the platform’s user-friendly design and strict multi-factor authentication security protocols.
“We knew from the start that Great Bay needed a flexible core platform which could be rapidly deployed and scaled while also affording 24x7 accessibility,” said Ray Villeneuve, Chief Executive Officer at BriteCore. “Using the published APIs in our BriteCore Platform, for example, Great Bay was able to easily integrate with industry-standard vendors and data sources, and they have been able to continue expanding the range of services offered to further improve the agent and customer experiences. We are very pleased to be a major contributor to Great Bay’s success and ongoing journey.”
BriteCore is a cloud-native platform for P&C insurers that unlocks business growth, delivers greater productivity and efficiency, and provides a modern customer experience. With the BriteCore Platform, insurers easily administer policies, manage billing and claims, rapidly configure new products, and access detailed reporting and analytics in an all-in-one core system, with agent and policyholder portals. Trusted by over 80 insurers across North America, BriteCore’s policy administration solution enables midsize carriers and MGAs to compete with the largest providers.
For more information, visit www.britecore.com.