Strategic acquisition is a key component of company’s goal to offer the industry’s most complete end-to-end insurance technology solutions
Hoboken, NJ: Peak Performance, a leading provider of insurance technology solutions and services for the property and casualty insurance industry, announces the acquisition of PolicyPointe.
PolicyPointe (www.policypointe.com) is a Web-based software system that was developed to provide an innovative solution to manage policy workflow while reducing administrative costs and improving customer service for high-volume lines of coverage. PolicyPointe provides a reliable, single point of service system for executing large volumes of transactional business in a controlled, efficient, and secure manner.
PolicyPointe leverages Application Service Provider (ASP) technology to provide automatic execution and electronic delivery of all elements of policy underwriting, rating, sales and issuance administration-through secured self-administration and real time processing.
PolicyPointe rates and underwrites the risk based on pre-defined, customizable criteria. For policies requiring additional underwriting, the applications are processed in a queue, notifying underwriters when they can review the information before moving them back into the automatic fulfillment process.
PolicyPointe issues policies, including all necessary endorsements. Customers can have policies delivered via e-mail, fax or regular mail, and can pay online or by mail using PolicyPointe’s billing and accounting system.
PolicyPointe is added to Peak Performance’s suite of proven solutions, supporting single point of service processing of insurance administration functions through a variety of web services. This acquisition demonstrates Peak Performance’s commitment to delivering proven, high-value, end-to-end insurance processing solutions to the insurance industry.
Steven Isaac, CEO of Peak Performance states “The acquisition of PolicyPointe is in keeping with the Company’s strategic objective of acquiring proven state of the art insurance specific technology to support all aspects of a carriers business processing needs with an end-to-end solution, while supporting a variety of web services.”
According to Kevin Smith, Chief Technology Officer at Peak Performance, “PolicyPointe’s architecture and next generation technology make it is a good fit with our company’s Services Oriented Architecture (SOA) model. Policy Pointe has a rich functionality that will complement our existing suite of products and services. Peak Performance continues to take advantage of the latest technologies to bring the benefits of efficiency and reduced costs to our customers.”
About Peak Performance
Founded in 2004, Peak Performance is an end-to-end insurance process solution provider offering Property & Casualty insurance organizations one-stop shopping for technology solutions and services that deliver measurable and defendable ROI, from reduced operating costs to improved loss ratios. Our unique approach combines mature and proven software solutions with web services and other modern technologies to redefine end-to-end processing. Others look to end-to-end as little more than automating processes from policy and claims, while we extend the definition to include streamlining processes throughout the entire operation.
For more information on Peak Performance products and services, please contact Michael Osheroff at 410-531-8528, mosheroff@peakpsi.com or visit our website at www.peakpsi.com.
Topics Mergers & Acquisitions Tech
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