Insurance Policy Life Cycle
Introducing Solartis Insure ▶
The system supports the requirements of both your internal users as well as external users who are typically agents, brokers, TPAs and policyholders. Easily integrate “Solartis Insure” with your inhouse and third party systems using web-services for seamless processing activities.
Solartis Insure Program
Benefits
▶ Level and then tilt the playing field ▶ Reduce your costs and make them variable ▶ Improve collaboration inside and outside your organization ▶ Get live, faster! ▶ Rollout the latest proven and tested technology before your competitors
Policy Life Cycle Solartis Insure: Supports the entire sales and policy life cycle or just the components you need. 1. Available in three delivery models: ● “Software as a Service” (with our User Interface) ● “Platform as a Service” (with your User Interface) ● “Rating Engine” (for use with your policy admin system). 2. Integrated with third party digital content (e.g., ISO Electronic Rating Content, Google Maps, Thomson Reuters Oden) to speed up time to market, guarantee accuracy and minimize implementation risks. 3. Deployed on all consumer devices – mobile, tablets and traditional computer browser interfaces. 4. Pricing is transaction based – no upfront license fees and you only pay for what you use.
Policy Life Cycle Process
True On-Demand Policy Life Cycle Processing ▶
Cloud Services – Support the entire policy life cycle or just the components you need
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Flexible distributed processing options (e.g., insured, broker, carrier). The right approach for each insurance program
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Elastic – Scales to your needs to support user and policy peaks and valleys
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Deployment – Private, Hybrid, Public Cloud options
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High Availability (HA) –near real-time replication and Disaster Recovery (DR) data centers
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Consumer Trends – mobile devices, tablets and traditional computer browser interfaces
Solartis Risk & Policy Manager ▶ Insurance Policy Management: Tracks and manages insurance policy information as it changes over time. Stores insurance policies, related documents, conversation notes, and emails. ▶ Insurance Policy Document Issuance: Issues all your insurance policy documents (new business policies, endorsements, renewals, cancellations and reinstatements) for your purchased policies, Captive, RRG, and/or Self-Insured policies. ▶ Covered Participant Management: Manages and tracks of your covered participants (e.g., members’ subsidiaries, business units, profit centers, property locations), contact info, and related documents. ▶ Location, Building, Risk Management: Manages and tracks your locations, buildings, and risks as they change over time. ▶ Risk Detail Management: Manages and tracks all your Risk details as they change over time (e.g., property COPE data, covered vehicle details, scheduled items, events, workers).
Why Consider Solartis Administers for Insurance BPO? Solartis Administer is an on-demand business process outsourcing service that removes the never ending struggles of employee turnover, training, and lack of available administrative resources. Solartis provides a team of insurance experts who are equipped to work with your technology and business processes. We eliminate backlogs within days without disruption to your clients. Once the backlogs are cleared: ▶
Submissions are routed to the appropriate underwriter within 30 minutes
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Policies are issued within 1 day
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Certificates of insurance are issued within 1 hour
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All loss runs are provided the same day
How Solartis Risk & Policy Manager helps you?
Efficiently deal with your administrative tasks and take on the strategic role of a Risk Manager. Solartis Risk & Policy Manager makes that possible. ▶
Complete Transparency
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Allocate Premiums Accurately and Consistently
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Easily Create, Manage and Find Everything You Need
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Enjoy the Benefits of the Cloud
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Free Yourself with Self-Service Tools
Solartis Administer: ▶ THE BUSINESS CHALLENGE: A multi-regional US customer experienced large growth in both their personal and commercial lines business. Even with excellent systems and business processes in place, this growth, coupled with hiring, training and staff turnover issues challenged their strong reputation of superior service. ▶ THE RESULT: Our customer implemented Solartis Administer services in areas of the company that generally had a high turnover employee rate (e.g., back office administrative tasks, policy issuance activities, endorsement processing, etc…) This allowed our customer to reallocate strong resources to higher value activities and allowed for natural attrition. ▶ THE SOLUTION: Solartis team members worked side by side with this customer’s operational staff. Using the customer’s existing processing systems, we started out slow and assumed additional business processes over time. This allowed our customer to assess our capabilities On-Demand business model.
Solartis Administer: THE BUSINESS CHALLENGE: Our customer wanted flexible Policy life cycle services for its diverse and ever changing commercial and personal insurance products. Their goal is to use an enterprise wide policy solution that was flexible, highly configurable and could scale to meet projected 5 to 10 year growth plans. THE RESULT:¡ After the initial implementation of Solartis Insure, our customer increased its policy production from 300 to 400 policies per month to over 10,000 policies per month today. This has resulted in an increase in revenue over a period of 6 years while reducing their policy administration and IT costs. THE SOLUTION:Solartis provided this customer with an enterprise level quote, policy administration, certificate issuance and billing Software-as-a-Services. The primary users are thousands of retail agents across the US and internal underwriters in multiple offices. ¡
Contact Details:
Mailing Address Solartis 1601 North-Sepulveda Blvd. Suite #606 Manhattan Beach, California 90266
Sales Carol Mowry McKenzie VP Sales and Marketing cmowry@solartis.com Office: 570.815.4556