08.03.04 - Wildnet, the market leading provider of business process solutions to the insurance and reinsurance industry, has developed a customised transactional trading platform that enables users to obtain Business Owner's Policy (BOP) insurance over the internet, in real time. Developed for CCBsure, a leading provider of P&C liability insurance to the IT industry, the self-serve system is the first of its kind.

"CCBsure is Wildnet's first US MGA customer using our highly successful WildCommercial insurance platform," said Mark Birrell, Chief Executive of Wildnet. "For the first time, the underwriting process for this class of business has been fully automated and made available to customers online."

"CCBsure.com is the first and only insurance site that enables business owners to rate, quote, bind and buy BOP insurance coverage in a real time," added Steven R. Robinson, Chief Operating Officer of CCBsure's parent company, ISG International. "With CCBsure's `Realtime Underwriting' process, customers can obtain a Certificate of Insurance in 15 minutes or less."

CCBsure is the leading provider of liability insurance to small IT companies and individual consultants whose clients frequently require proof of BOP coverage. Until recently, the process - application, review, underwriting, payment and issuance of a Certificate of Insurance - took several days. "In addition to being slow, the process was also highly labour intensive and marginally profitable," noted Mr. Robinson. "We write thousands of these policies and many times we were using the same amount of time and effort to write them as it would have cost us to write one policy worth far more. We had to find a way to automate this high-volume, low-margin business."

Wildnet developed a customised online transactional trading platform based on its proven WildCommercial insurance platform. WildCommercial is designed to streamline business processes and enhance distribution networks. WildCommercial's core processing engine is capable of supporting most lines of commercial insurance and can be used to manage programme-based business. WildCommercial provides MGA's like CCBsure with improved access to authorised producers and insureds whilst providing strong compliance and workflow capabilities.

"Prospects now input their information into www.CCBsure.com and are provided a quote," explained Mr. Robinson. "If everything is acceptable, and they agree to the terms and conditions, they are immediately provided with a Certificate of Insurance they can print out. Payment is by credit card. Customers can return to the site to obtain additional Certificates anytime they want."

Mark Birrell, Wildnet's Chief Executive commented: "WildCommercial has proven itself to be an outstanding platform. By automating manual processes such as new business application, rating, binding, online payments, online Certificates of Insurance and automated renewals, CCBsure has a solid platform to expand upon that increases its customer satisfaction while substantially reducing administration costs and processing time. The system's built-in automated rating programme enables up to 90 per cent of all applications to be quoted and bound immediately without any intervention from CCBsure."