LOS ANGELES, May 17, 2022 (GLOBE NEWSWIRE) — Tokio Marine HCC – Surety Group, headquartered in Los Angeles, California, and part of the Tokio Marine HCC group of companies, has announced a partnership with North America’s leading insurance technology provider, Vertafore®, to streamline how agents and brokers transact surety bond business online.
The partnership between Tokio Marine HCC – Surety Group and Vertafore’s best-in-class agency management system, AMS360®, developed technology that eliminates the need for agents and brokers to re-key data into their own systems. This integration allows agents and brokers to seamlessly download bond information from Tokio Marine HCC into AMS360 for billing and administration via an automated daily export of new transactions, renewals or a full differential export of active customers and surety bonds.
“Partnerships like Tokio Marine HCC are a prime example of Vertafore’s purpose of automating and simplifying the insurance distribution lifecycle,” said Doug Mohr, Vertafore Vice President of Industry Relations and Partnerships. “We are excited for the value this integration can bring to our agencies.”
Adam Pessin, President and CEO of Tokio Marine HCC – Surety Group, commented, “The Surety industry has often been slow to adopt digital enhancements, but Tokio Marine HCC constantly strives to make the issuance, renewal and management of surety bonds as efficient as possible.”
“The new enhancement allows agents and brokers to seamlessly extract all the bond and customer data they need, saving significant amounts of time and cost.”
“We are determined to make the trading experience with Tokio Marine HCC – Surety Group as efficient as possible through technology that delivers value to our agency and broker partners. We will continue to invest in our tech capabilities to pass on the savings to our agents and brokers and their clients.”
About Tokio Marine HCC
Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $38 billion as of December 31, 2021. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Continental Europe. Tokio Marine HCC’s major domestic insurance companies have financial strength ratings of ‘A+’ (Strong) from S&P Global Ratings, ‘A++’ (Superior) from A.M. Best, and ‘AA-’ (Very Strong) from Fitch Ratings; its major international insurance companies have financial strength ratings of ‘A+’ (Strong) from S&P Global Ratings. Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.
| Contact: | Sylvia Chang |
| Vice President of Marketing | |
| Tokio Marine HCC – Surety Group | |
| schang@tmhcc.com |
