SOC 2 Examination Successfully Completed by FirstBest Systems

By CIOReview | Wednesday, February 3, 2016

BEDFORD, MA.: The provider of insurance software solutions for US and global insurers, FirstBest Systems, announced the successful completion of its SOC 2 (Service Organization Control) Type 1 examination. SOC 2 evaluations provide independent validation regarding internal controls relevant to the five key principles of trust services in an organization: security, availability, processing integrity, confidentiality, and privacy.  
This evaluation was conducted by an independent service auditor, Schellman & Company, LLC. It delivered a positive result, indicating that FirstBest security controls and procedures are in complete compliance with the applicable trust service criteria of the American Institute of Certified Public Accountants. The extensive examination was company-wide and included positioning of more than 300 supporting artifacts.

“Security of customer data is of paramount importance to us and our customers have the utmost confidence in FirstBet to protect the data being processed through our systems,” said Paul Cummings, Vice President of Engineering, FirstBest Systems. “As a SaaS solution provider, FirstBest is dedicated to constantly meeting the requirements of Service Organization Control examinations. The independent evaluation of our operations and practices further establishes FirstBest as a reliable and leading provider of underwriting technology for property/casualty insurers. It is our mature practices and procedures that have enabled FirstBest to provide 100 percent to our customers for the past two years.”

With a verified baseline, FirstBest Systems is committed to conducting additional SOC examinations in future years, including SOC 2, Type II, to further validate the processes, procedures and controls implemented by the company. Current customers can obtain a full copy of the SOC 2 report by their SaaS support representatives at FirstBest.

About FirstBest: FirstBest was formed was formed a decade ago, when its founders realized that the property and casualty industry lacked a cooperative underwriting environment for agents, underwriter and related professionals. The founders recognized that underwriting operations often failed to incorporate data in the risk-assessment process. Today FirstBest Systems is the leading provider of insurance software solutions and services that help US and global insurance companies improve underwriting profitability, scale their business and achieve high service levels with agents and brokers.