“We are excited about insurance technology and focus heavily on usability, web standards, cloud computing, continuous integration, and open-source software development.”
BriteCore began in 2009 when a group of six mutuals collaborated together to build the world’s most exceptional property-casualty administration system for insurance providers. They focused on three key objectives throughout the development method: customer-centric development, long-term partnership, and ongoing technical modification. Since the initial launch in 2010, BriteCore has swiftly evolved into a fully managed product suite that encourages a diverse group of insurance carriers, startups, and MGAs. Continuous innovation truly sets BriteCore apart from competitors. Their core values, along with their product, pricing, and developing model, have all centered around and designed for continuous improvement. They are the only software provider allowing customers to improve the base system through code contribution. The company makes it easy for providers to establish their development preferences and optimize product roadmap directly.
Their services staff maintain extensive insurance expertise, offering creative process optimizations and translation among developers and carriers. Developers continually achieve new technology, solving carrier problems with the latest tools and methods. These forces consolidate to produce groundbreaking features at record speed. As the group grows, they build better tools faster.
Recently, the company, which has raised more exceeding than $70m in total funding, intends to utilize the funds to speed up the development of new products while proceeding to expand its team of insurance industry experts. Directed by Phil Reynolds, Founder, and CEO, BriteCore contributes property and casualty insurers with a cloud-based insurance core software platform endeavoring end-to-end capabilities, including claims management, policy administration, underwriting rules, and rating, contact management, billing, agent quoting and inquiry, imaging, printing, data warehousing, and reporting.
“We are passionate about insurance technology and focus heavily on usability, cloud computing, web standards, continuous integration, and open-source software development. We love what we do and believe you do too,” says Phil. It is deployed utilizing Amazon Web Services and using API integration capabilities.
More than 50 insurance carriers, insurtechs, and MGAs have adopted the company’s solution to access developing technologies, enhance operational efficiency, create compelling consumer experiences, and drive unparalleled speed to business. BriteCore is a completely managed cloud-based insurance software system that consolidates core, data, and digital solutions into a single sequence. BriteCore supports multi-line, multi-state, and multi-location strategies for personal, commercial, and specialty channels of business. All policy information in BriteCore is accessible via their robust web API, allowing simple integrations with third-party vendors who improve the functionality of their product.
BriteCore presents full, end-to-end policy issuance and management functionality, including quoting, evaluation, underwriting, policy generation, and statistical reporting. The complete lifecycle of the policy is managed using suitable interface tools, flexible workflows, and automatic processes that encourage teamwork and productivity. BriteCore amalgamates claims administration and business process management (BPM) to maintain the end-to-end claims process. From open to close, representatives and adjusters work collaboratively and efficiently within BriteCore to prepare FNOL, establish reserves, upload reports, issue fees, and settle claims.
BriteCore features an exceptional billing and accounts receivable module that works in alliance with payment processing, premium accounting, reporting, and settings to maintain the entire billing and payment lifecycle of a policy. Over 6,000 automated system experiments run nightly to verify the system balances as anticipated. BriteCore is completely equipped with a contact management system that permits users to view and store information relevant to the people and organizations with which they do business. The Contacts module comprises listings for insureds, mortgagees, vendors, officers, agents, and more with instant propagation completely each of the core modules.