COLUMBIA, SC – Seibels, an insurance services provider of processing, technology, and claims solutions, and Elements Property Insurance Company (EPIC), a new Florida homeowners insurance company, today announced that EPIC has selected Seibels to manage its business process outsourcing and policy administration services.
EPIC will commence business in December with a bulk take out of policies from the state-backed Citizens Property Insurance Corporation. EPIC will begin writing voluntary policies in 2014.
“Seibels is excited to provide its newest customer, Elements Property Insurance Company, with tailored business processing services and technology solutions,” said Seibels President John F. Seibert. “Our experienced insurance professionals and technology experts will provide EPIC with the state of the art foundation they need to enter the Florida insurance market rapidly and efficiently.”
Seibels’ business process outsourcing services include rating, underwriting, policy issuance and customer service as well as all accounting and reporting. By implementing Seibels’ insurance and operational expertise, EPIC will be able to focus on core business initiatives.
“As a new insurance company in Florida, it was very important that we selected an insurance services provider with insurance experience and knowledge,” said EPIC President Robert L. Ricker. “Seibels offered us a complete solution tailored to our company’s unique needs. From insurance expertise, particularly in the state of Florida, to the advanced processing system IPX, we feel confident that Seibels will help us build the strong foundation needed to grow and enhance our business in the Florida market.”
Seibels’ business process outsourcing and policy administration services will be implemented in conjunction with Seibels’ web-based policy administration, billing, and claims system, IPX. Built by insurance experts, IPX provides end-to-end processing and proven functionality that enhances operations, creates efficient workflow environments, and promotes quick responsiveness to market entry and product expansion.
About Elements Property Insurance Company (“EPIC”)
EPIC is a new entrant to the Florida homeowners insurance market, providing the state with much-needed new capital. The insurer has strong financial backing and a management team with extensive experience in the Florida market. The company is based in Tallahassee, FL. For more information on Elements Property Insurance Company, please visit www.elements-ins.com
Seibels provides insurance processing services and software to the property and casualty insurance industry. Tracing its roots to 1869, Seibels leverages a strong combination of insurance industry knowledge and technology expertise. With secure and scalable web-based platforms, Seibels’ policy administration, billing, and claims systems increase productivity, enhance efficiencies, and provide an excellent customer experience for the insured and insurer. From business process outsourcing and hosting services to innovative insurance software, Seibels provides clients with processing, technology, and claims solutions tailored to their unique needs. For more information, please visit www.seibels.com.