FirstBest Systems raises $7,000,000

FirstBest Systems, Inc. today announced the completion of a $7 million round of Series A funding.  Founded in 2006, FirstBest Systems, Inc. delivers advanced Underwriting Management Systems (UMS) that enable commercial insurance carriers to profit from better underwriting. FirstBest’s UMS is a web-based business solution for underwriting all commercial lines of business. It uniquely delivers automation for straight-through processing and exception-based underwriting, real-time collaboration, knowledge management, a management dashboard, and an execution platform for predictive modeling — in one integrated solution. The UMS deployment results in increased profitability, improved ease of doing business, management visibility into the underwriting process, and the continuous capturing and sharing of underwriting best practices.