ClarionDoor Announces Results for First Half of 2021
SANTA BARBARA, Calif., July 20, 2021 (GLOBE NEWSWIRE) -- ClarionDoor, provider of the most intelligent insurance product distribution software, is pleased to report positive 2021 first half results indicating higher demand for digital distribution solutions in the commercial and specialty lines market.
“We are pleased to report record growth thus far this year despite the hard market conditions,” said Michael DeGusta, CEO at ClarionDoor. “The recent trends in M&A have increased competition and demands for digital distribution. ClarionDoor specializes in software that actually enables insurers to be more innovative. For far too long, typical insurance systems focused entirely on the back office and neglected the insurer’s needs of developing innovative products and getting them out to the world.”
Since January 1, 2021, ClarionDoor has added 10 new clients, increasing the company’s client base to over 75 globally across all property and casualty (P&C) lines ranging from traditional to emerging markets, such as cannabis and cyber insurance. ClarionDoor’s mature insurtech solutions provide one of the first ever, cloud-native, API-first, no-code, SAAS rating engines, hosted exclusively on AWS. ClarionDoor solves the challenges of the entire product distribution process from product innovation to polcy generation and management.
“We have reached a point in time where digital transformation is not a choice,” said John Lucker, executive vice president – chief strategy & analytics officer at UFCIC in a previous statement. “ClarionDoor’s impeccable track record in delivering modern, flexible, and scalable solutions, on-time and on-budget, was a significant factor in our selection decision.”
Also, in the first half of 2021, the ClarionDoor team doubled in size from a year ago. These additions to the ClarionDoor team bring decades of industry experience and amplify the support options available to clients that range from insurtech startups to veteran insurers, and offer solutions that support insurers, managing general agencies (MGAs), brokers, wholesalers, and program administrators.
“Although we are a software company, we recognize that technology alone is not enough to make a difference,” said DeGusta. “It takes great people that understand insurance, and a great process that actually gets clients live. It is that combination of product, process, and people that forms the ClarionDoor experience and which has been effective in getting clients live faster than the competition, and liberating them to focus on innovation, not implementation.”