Tokio Marine and Vertafore to drive value in surety industry

Tokio Marine HCC – a specialty insurance group part of the Tokio Marine Group – has partnered with North American insurance technology provider Vertafore to streamline how agents and brokers transact surety bond business online.

The partnership between Tokio Marine HCC and Vertafore’s management system AMS360 eliminates the need for agents and brokers to re-key data into their own systems.

Doug Mohr, Vertafore vice president of industry relations and partnership, said the partnership with Tokio Marine HCC is part of Vertafore’s goal of automating and simplifying the insurance distribution lifecycle.

Adam Pessin, president and CEO of Tokio Marine HCC, added, “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.

“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.”

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