RALEIGH, N.C.--(BUSINESS WIRE)--Nov. 24, 2003--Today, Inflow, Inc., a leading provider of managed web application hosting and outsourced IT services, announced new customer Stonewood Insurance Management Company, a niche market insurance company providing workers' compensation insurance for the residential construction industry in North Carolina.
Stonewood begins official underwriting operations in December 2003 and anticipates rapid growth in its first year.
"We are very excited to have Stonewood Management Insurance aboard," said Kip Turco, general manager for Inflow in Raleigh. "Stonewood is a company that will experience fast growth and needs to provide the ultimate service to its clients. With both reliability and scalability, Inflow is the ideal choice for growth. We look forward to a long relationship."
"By outsourcing with Inflow, Stonewood saves significant build-out and staffing costs that would result from building our own data center, and thereby allowing us to focus our resources in other significant areas," said Ron Serbin, chief information officer for Stonewood. "In addition, Stonewood will ultimately realize an increased revenue stream due to reliable application availability. Inflow's solutions protect our availability which generates a higher level of customer satisfaction."
A key component of Stonewood's service philosophy is the availability of its primary application that comprises both a Web front-end and a back office Database server. To meet its goal of providing superior customer service to its independent agents and policy holders, Stonewood's application must be available 99.99%.
"It is essential to our business that this application suite experience minimal downtime," said Serbin. "To that end, my mission is to protect our business from threats that could jeopardize our ability to serve our clients. We found the stability and service we were looking for in Inflow."
Stonewood's criteria for a managed outsourcing provider included financial stability, security, a large customer base, a proven track record, reasonable pricing, and the ability to add on additional services, if needed. When Serbin and his staff toured the Inflow-Raleigh facility, Inflow confirmed it could satisfy Stonewood's requirements.
"Inflow offers a ISO 9001 certified facility, superior technical resources and strong customer service," Serbin said. "We found Inflow's range and quality of services as well as technical capability to be above standard."
About Stonewood Management Insurance
Stonewood Insurance Company (Stonewood) writes workers' compensation insurance effective November 2003. Stonewood was incorporated in North Carolina on October 2003 and was created to provide workers' compensation insurance for the residential construction industry. Ken Mitchell has been named President and Chief Executive Officer and will lead Stonewood's management team, which has considerable experience in underwriting this niche market.
Stonewood, headquartered in Raleigh, N.C., will begin underwriting operations in December 2003. The Company will operate through a limited number of independent agents across North Carolina.
Stonewood Insurance Company is a wholly owned subsidiary of James River Group, Inc., an insurance holding company created to own and operate property and casualty insurance organizations managed by executives with proven track records. James River Group is led by J. Adam Abram, President and Chief Executive Officer, who brings extensive experience and a demonstrated track record of producing strong results.
James River Specialty is the trade name for James River Group, Inc. and its subsidiaries, which are Stonewood Insurance Company and James River Insurance Company (James River). James River is an excess and surplus lines company headquartered in Richmond, Virginia.
For more information on Stonewood Insurance Management Company or James River Group, please call 800-780-7454.
About Inflow
Inflow provides technology solutions to companies with critical business and network applications. Founded in 1997, Inflow opened its first Internet Data Center (IDC) in June 1998 and currently serves more than 800 customers from its IDCs in 12 markets throughout the U.S. Leveraging its expertise in application, network and datacenter management, the company is able to deliver the most reliable, secure, scalable and cost-effective outsourcing solutions available. Core services are offered within Inflow's three primary lines of business: Application Hosting and Management, Business Continuance and Disaster Recovery, and Enterprise Datacenter Management. In its sixth year of business, Inflow generated approximately $50.7 million in total revenues last year. Investors include Meritage Private Equity Funds, Centennial Ventures, Telecom Partners, Spire Capital Partners, The Halyard Capital Fund, GE Capital and PNC Equity.
Inflow has recently received ISO 9001:2000 certification. Lloyd's Register Quality Assurance (LRQA), a worldwide leader in quality systems evaluation, concluded that Inflow was deserving of registration to ISO 9001:2000 as it successfully completed audits for Inflow's Quality Management System. ISO 9001:2000 is an international standard of quality. Less than one percent of companies in the U.S. are registered or certified to ISO 9001:2000.
