Property and Casualty Insurance Software for insurers in the Caribbean connects to FAC’s secure, real-time payment gateway
Jamaica & Hamilton, Bermuda – October 8, 2019. First Atlantic Commerce (FAC), a global online payment solutions provider that specializes in the Caribbean and Central America, and Core Technologies today announced their collaboration and technical integration to enable Core Technologies UnderWriter™ insurance platform clients to accept online payments.
FAC is a Bermuda-based, feature-rich payment gateway that delivers customized and flexible online credit and debit card processing to companies across the Caribbean and Central America. The company also provides the first and only PCI validated P2PE solution for companies in the Latin American Caribbean Region as well as risk mitigation solutions to its merchants, banks and other gateways.
UnderWriter™ is the ultimate property and casualty insurance software package for insurers in the Caribbean. Developed in the Caribbean and used by 19 insurance companies and 3 insurance brokers, operating in 19 different Caribbean territories, the platform is renowned for its continuous development and feature rich modules.
All insurance-related processes for underwriting, reinsurance, insurance accounting, and claims (including litigation management and salvage management) are available within the system, which utilizes a built-in document manager.
UnderWriter™ has integrated to FAC’s payment gateway so that its customers can accept credit and debit card payments using FAC’s payment platform with settlement to local banks in the Caribbean.
The first merchant to go live using the integrated system is Gulf Insurance Limited in Trinidad & Tobago.
In his comments, Gulf Insurance Limited’s managing director Jason Clarke said; “We at Gulf took the decision to use UnderWriter™ as our P&C software 4 years ago, and to date we are 100 percent pleased with the constant development, support and guidance in implementing new features that are made available to us on a monthly basis. When Core intimated that they needed a pilot company to go online, we were ready. Then came FAC with their exceptional knowledge and professionalism. FAC, working in combination with Core and our other teams, got this development completed in very short order. We have no hesitation in recommending either FAC or Core in their respective areas of competencies.”
Managing Director of Core Technologies, Calvert Asphall, said; “We are excited to have integrated with the Caribbean’s preferred gateway, and are pleased with the launch of our first pilot merchant. This will save other insurance companies time and resources in setting up their online payment acceptance component.”
Chris Burns, CEO of FAC added: “We are very pleased to be working with the Core Technologies’ UnderWriter™ platform to provide their customers with quick payment processing access across the Caribbean. Our payment platform is the ideal choice for insurers that require a custom card payment experience for their clients in a secure environment.”
About First Atlantic Commerce
First Atlantic Commerce (FAC) is a leading global, online payment solutions provider that specializes in the Caribbean. FAC is headquartered in Bermuda and was established in 1998 to create secure card-based payment solutions for online businesses. FAC provides merchants with multi-currency payment solutions, tokenization services and PCI validated Point to Point Encryption solutions. As well, FAC provides merchants and banks with fraud management services including AVS-only, CVV, 3-D Secure™ and Kount’s fraud control system, in multiple jurisdictions across Europe, Mauritius and the Latin American Caribbean Region.
About Core Technologies
Core Technologies was formed in 2003 to work along with its support team in Jamaica on the continued development of the software package UnderWriter™. This package was designed specifically to satisfy the specific demands of the Caribbean insurance industry while being reflective of top international standards and best practices.