Palomar Specialty Insurance Company Deploys PCMS' Atlas Cloud P&C Solution

By Jyothi Shanbhag
TMCnet Contributor

Today, every business thrives on resolving complex issues with simple solutions that simplify the jobs, while delivering exceptional results.

Recently, Palomar Specialty Insurance Company (Palomar Specialty), a provider of commercial and residential earthquake insurance, has seleceted PCMS as its new partner to utilize its Atlas hosted platform.

The Atlas hosted platform will help the insurance company to process and host all rating, underwriting, policy administration, billing, claims management and reporting and business intelligence needs for its home office, retail producers, and brokers.

PCMS' Atlas product suite is built to cater needs of carriers of any size. This suite helps users to benefit from sophisticated, modern, real-time solutions.This solution will enable Palomar Specialty to serve its consumers better with limited options to purchase earthquake insurance, unencumbered by traditional IT roadblocks.

Mac Armstrong, founder and chief executive officer, Palomar Specially, said that they did an extensive search and then finalized on PCMS because of their modern, all-in-one comprehensive system, upfront and inclusive pricing model and proven track record of successful and quick implementations.

"Atlas' agile and flexible platform will allow us to be responsive to market needs, especially those of our distribution partners, while providing a platform for growth as we expand," Armstrong added.

PCMS' Atlas system will enable Palomar Specialty to offer real-time, self-service capabilities to its agents and also access qualitative underwriting, risk, data analytics, and management reporting in real-time. Also, the insurance company can easily introduce new products, enter new markets and accommodate unique product sets.

"Throughout the evaluation process, we were continually impressed with Palomar's executive team, and their innovative business approach and experience," said Jack Dennison, chief executive officer, PCMS. "We are extremely excited to partner with their team of seasoned insurance professionals."

The new deployment will help Palomar to minimize operational and IT costs, while making use of the latest cloud-based, scalable technology.