Insurance Industry Rating Systems Executive Paul Areida Joins Leading Commercial Insurance Solutions Provider as President
Okemos, MI, October 19, 2017 – NetRate Systems, a provider of software and service solutions to the commercial property and casualty insurance marketplace, announced today that Paul Areida has joined the company to enhance the leadership team and help lead the company into its next generation of growth. In his new role as president, Paul will oversee all aspects of the operation with an emphasis on building upon the nearly 20 years of successfully delivering powerful solutions that simplify insurance rating and the associated submission, quoting, issuing and reporting processes.
Paul has over 35 years of experience in the insurance industry and over 25 years working in leadership roles at other insurance solution providers. His leadership experience includes president and CEO of FSC., a personal and commercial comparative rating company, Sr. Vice President and National Sales Manager at Applied Systems, and President of American Driving Records.
“I am very excited to join the team at NetRate Systems”, stated Areida. “NetRate’s cloud based Submit, Rate, Quote, Bind, Issue, Report solution coupled with a deep expertise in commercial insurance rating create a unique offering for Program Administrators, MGAs, Carriers, and Coverholders looking to grow their commercial business.”
David Jordan, CEO of NetRate Systems, said “We are pleased Paul is joining NetRate Systems. He has an excellent track record of strategically growing businesses. Paul’s experience coupled with recent advances in our product portfolio positions us well for significant growth.”
About NetRate Systems, Inc.
NetRate Systems, Inc. supplies commercial lines submission, underwriting, rating, policy issuance, and data reporting and analysis solutions to the property and casualty insurance marketplace, with a focus on managing general agents (MGAs), program administrators, Lloyd’s coverholders, and insurance carriers. Its solutions are designed to streamline the process of selling insurance by eliminating manual references, reducing manual data entry, automating rating through the full policy life cycle, simplifying reporting requirements, and delivering business intelligence. NetRate Systems products include nationwide rating of ISO®-based General Liability, Property, Commercial Auto, BOP, Crime, and Inland Marine, as well as NCCI Workers Comp. NetRate also offers custom development of all lines of business. NetRate’s solutions are offered via cloud-based web portals, or via web services that power point-of-sale submission, rate, quote, and issue applications. Integrations with third-party data sources and web services support efficient and thorough underwriting and quoting, and streamlined reporting processes. Strong partnerships and integrations with third-party policy administration solutions provide seamless workflows and processes for front and back office operations. For more information, please visit www.netrate.com.
For more information regarding this news release, please contact:
NetRate Systems, Inc.
(517) 347-4900 x115