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CloudInsure Selects Oceanwide(R) BRIDGE for Policy Administration and Consumer Portal Functionality

Oceanwide Software to Power Cyber Liability Products for Innovative Program Administrator

NEW YORK, NY and MONTREAL, QC -- (Marketwired) -- 06/09/14 -- Oceanwide, Inc. (Oceanwide), the leading provider of completely configurable, SaaS insurance software announced today that CloudInsure, the world's first cloud insurance platform designed to specifically address emerging privacy and security liabilities within the cloud environment, has selected Oceanwide BRIDGE for policy administration and consumer portal functionality.

CloudInsure selected BRIDGE to enable the deployment of a direct-to-consumer portal for the company's cyber liability platform, and to handle critical policy administration processes, including rating, document generation, and product design.

"Our expertise in cloud and cyber risk makes us a stringent evaluator of cloud offerings," said Fred Bartkiewicz, managing partner and co-founder of CyberRiskPartners, the parent company of CloudInsure. "Oceanwide impressed us with the high level of maturity and sophistication we saw in their SaaS operations. That was very attractive for us."

"There were several other factors that led to our decision to partner with Oceanwide," said David Kimmel, CEO of CyberRiskPartners. "BRIDGE allows for impressive flexibility while maintaining an easily configurable rating engine, and the user interface for the client portal is modern and clean. Oceanwide has been a great partner to us, and has shown a true dedication to our success, not just making a sale."

"We're excited to have the opportunity to work more closely with CloudInsure as they pioneer cyber liability products," said Mark Adessky, president of Oceanwide. "Having such an innovative market leader as a partner further validates our solution in this area."

Oceanwide's BRIDGE System is a SaaS-based suite of insurance software modules which provides end-to-end processing for property and casualty (P&C) insurance companies, brokers, and MGAs, and includes modules for policy administration (PAS), rating, document/policy production, workflow management, claims, billing, business intelligence (BI), and agent and consumer portals.

About CyberRiskPartners and CloudInsure
CyberRiskPartners, LLC (CRP) provides decision-support cyber risk data analytics and risk transfer solutions to the insurance, risk management, and cloud computing industries. CRP consists of two operating subsidiaries: CyberFactors, a proprietary cyber risk analytics database that models adverse technology related events and their consequences; and CloudInsure, an insurance program administrator designed to help cloud service providers transfer operational risk by means of white label insurance products specifically tailored to cover data liability in the cloud environment. For additional information, please visit www.cloudinsure.com, or e-mail [email protected].

About Oceanwide, Inc. (Oceanwide)
Founded in 1996, Oceanwide has been at the forefront of delivering SaaS insurance software for 17 years. BRIDGE, the latest offering from Oceanwide, offers a new approach to insurance policy administration systems. Designed from the ground up to be fully configured without custom programming, BRIDGE empowers insurers, MGAs, and brokers to take creative new ideas to market in weeks, not years. For additional information, please visit the Oceanwide website at www.oceanwide.com, or call (888) 289-7744.

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