Boom is a cloud‑based platform that centralizes and automates the surety underwriting process. It ingests applicant data from credit bureaus, public records and internal systems, applies configurable risk‑scoring rules, and generates instant, compliance‑ready bond quotes, while providing real‑time tracking and collaborative tools for insurers, brokers and financial institutions.
Funding
Funding not disclosed
Founders
Product
Problem
Surety underwriting traditionally relies on manual data collection, fragmented risk assessment tools, and lengthy approval cycles, which delay bond issuance and increase operational costs for insurers and brokers.
Solution
Boom provides a cloud-based surety underwriting platform that centralizes applicant data, automates risk scoring, and streamlines the approval workflow. The system integrates with external data sources to enrich risk profiles and applies configurable underwriting rules to generate instant quotes. Users can track the status of submissions in real time, collaborate on decisions, and produce compliance‑ready documentation with a few clicks. By digitizing the underwriting process, Boom reduces turnaround time, minimizes errors, and enables insurers and brokers to scale their surety operations efficiently.
Target Audience
Primary customers are surety insurers, brokerage firms, and financial institutions that originate and underwrite surety bonds.
Features
- Unified dashboard for submitting, reviewing, and managing surety bond applications
- Automated data ingestion from credit bureaus, public records, and internal systems
- Configurable rule engine for risk scoring, pricing, and approval thresholds
- Real‑time status tracking and collaborative decision tools for underwriters and brokers
- Generation of compliant bond documents and electronic signatures
- API integrations for seamless connectivity with agency management and policy administration systems