Tinubu, a global provider of surety and credit insurance technology, recently announced that its platform, “Tinubu Surety Solution for Brokers and Agents“, is now used by 50% of the annual $7 billion surety bond market in the US.
In February 2022, Tinubu migrated all of its 5,000 agent users from 250 different agencies to a new and digitised bond management platform after acquiring SuretyWave in December 2020.
Stephan Mignot, SVP Americas of Tinubu said, “The new Tinubu platform provides surety bond producers with a tool that delivers significant value to their customers, by reducing manual processing and double entry. This is vital for agents to efficiently and more cost-effectively serve the surety bond market.”
Designed to empower surety bond producers to issue any type of surety bond from any carrier, the platform:
- Improves upon the most efficient bond processing workflow in the market
- Offers end-to-end digital integration with all parties to a bond transaction
- Provides a best-in-class bond library. Tinubu bond library is crowd-sourced by over 5,000 agent users daily and centrally managed as a service by Tinubu professionals. The most up to date bond form library in the market has been enhanced with improved search capabilities
- Works with any modern browser and is mobile friendly, allowing client users such as contractors to submit bond requests from the field
- Introduces stronger security using Azure cloud services, configurable for the latest password requirements
- Provides continuous improvement and frequent updates available with Tinubu software-as-a-service (SaaS) products.
Tinubu remains committed to the continuous development of its platform, and invests 20 percent of its revenue in research and development on an annual basis, Mignot says, “Our R&D strategy has made the timely turnaround from a legacy product to a digital solution possible. It also means customers can expect further developments in the platform’s environment.”
Tinubu purchased SuretyWave LLC, including its cloud-based surety bond processing system known as SurePath, in December 2020. The acquisition advanced Tinubu’s execution of its global strategic vision of building highly complementary and integrated credit and surety enterprise software solutions and services. With Tinubu’s new branding, the system is now called the Tinubu Surety Solution for Brokers and Agents.
Tinubu also provides surety carriers with cloud-based solutions for real-time automated underwriting and issue, account risk analysis, bond lifecycle management and surety analytics at an enterprise level through its automated underwriting system, also known as the Tinubu Surety Solution for Carriers.