5/05/2009 -
Sarasota, FL, May 5, 2005 - BIPT, Inc. (BIPT) today announced that Southern Oak Insurance Company has renewed its contract to utilize TiVA, BIPT's industry leading on demand policy processing solution, for all of its policy processing needs.
Tony Loughman, CEO of Southern Oak Insurance Company, said "BIPT is a valued business partner. Their client service team has a clear understanding of our business and works hard to tailor solutions to our unique needs. And their new product set, specifically, the Agent and Insured Portals and the new Quote-to-Issue interface, will help us gain and retain market share and improve our interaction with our producer community."
Rick Caudill, Vice-President of BIPT, welcomed the news. "We are proud of our long-standing partnership with Southern Oak Insurance Company and are extremely pleased with this contract renewal. We are especially pleased that Southern Oak plans to immediately take advantage of our new products. We are continuing our efforts to provide the insurance industry with the most cost effective and agile solutions on the market today. When coupled with our team's industry expertise and dedication, our reputation for delivering innovative solutions on time and within budget continues to grow."
Terms of the contract were not disclosed.
About Southern Oak Insurance Company:
Southern Oak Insurance Company is a Florida-based property insurer, specializing in personal residential property insurance. Southern Oak provides homeowners coverage through a statewide network of independent agents.
Additionally, its extensive network of experienced claims professionals ensures that Southern Oak Insurance will be there when our policyholders need us most. Southern Oak is committed to providing policyholders with exceptional service, and our innovative policy and claims processing systems provide your agent and adjuster with the tools to complement their knowledge and experience.
Southern Oak holds a Demotech financial stability rating of "A" (Exceptional). Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation) both accept Demotech Financial Stability Ratings of "A" or better. Reinsurance is provided by companies approved by the Florida Department of Insurance, and with an A.M. Best Financial Strength Rating between "A-" and "A++".
About BIPT, Inc.:
BIPT, Inc., headquartered in Sarasota, Fl., is a leading provider of Policy and Claims Administration solutions for the Property and Casualty Insurance industry. The flagship solution, TiVA, is a browser-based system designed to help carriers extend their application process to agents in the field, streamline the underwriting process, and improve their competitiveness in the marketplace. Visit the company's website at www.bipt.com.
