Coastal Insurance Underwriters, Inc. (Coastal), a Ponte Vedra Beach Florida based MGU and program administrator, announced the acquisition of Cybercom International Corporation’s assets on 01/02/2020.
Cybercom International Corporation, Inc. (CIC) was established in 1997 as a custom software development company in Ponte Vedra Beach, FL. During the past 23 years, Cybercom has been building high- performance enterprise-level applications for a number of vertical markets, including insurance, e-commerce, industrial, medical, and manufacturing.
Cybercom’s capabilities include new product development, existing product support, analytical reporting, document generation, third-party integration and workflow automation. In the insurance marketplace, Cybercom has built tools for a number of coverage lines, including Property, General Liability, Crime, Directors & Officers, Umbrella, Commercial Auto Liability, and more.
Cybercom has maintained a strong relationship with Coastal for over 15 years. What started out as a simplified rating engine has transformed into a full lifecycle policy system for both Personal and Commercial lines products.
Both Coastal and Cybercom are excited to partner together to continue to advance in automation and enhance Coastal’s proprietary policy lifecycle management system.
“Coastal and Cybercom will be a powerful dynamic duo together, which will allow Coastal to further enhance our proprietary system and to shape the future of technology within the industry, “commented Charles R. Bushong, President/CEO and founder of Coastal Insurance Underwriters.
Erez Wolf, President and founder of Cybercom International Corporation said, “The longstanding relationship between our two companies, along with the ease of working together and entrepreneurial like minds, makes the acquisition a natural fit for Cybercom.”
Wolf will become Coastal’s Chief Technology Officer and President of Cybercom Technology, LLC.
About Coastal Insurance Underwriters, Inc.
Coastal Insurance Underwriters, Inc. (Coastal) founded in 2007 is a program administrator specializing in designing, creating, and managing insurance products for a variety of business classes, including condominium associations, homeowner associations and golf and country clubs.
Coastal has grown to become one of the largest Managing General Underwriters in the United States focused on community association products with over 8000 homeowners and condominium associations currently insured.
Coastal continues to advance in automation to ensure that they remain on the cutting edge of changes necessary in this marketplace. They continue to develop and launch new products, and expand into additional states. Coastal will continue to strive to be a leader in providing highly specialized, and financially sound insurance products through automated and simple-to- use solutions.