Tokio Marine HCC is to partner with Vertafore to help streamline how agents and brokers transact surety bond business online.
The partnership between Tokio Marine HCC – Surety Group and Vertafore’s 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 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.
Adam Pessin, president and CEO of Tokio Marine HCC – Surety Group, said: “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.”
He added: “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.”
The news comes a few weeks after the firm said it was launching a $42m corporate venture capital fund.