Automating Insurance Policy Underwriting

Atlas Administration System

A business like the insurance industry is steeped in stodgy traditions. Visions of claims processors in huge rooms with matching desks come to mind. But the digital revolution has finally hit the insurance industry, from the big headquarter offices down to the tiny agent offices in small towns all across America. The advent of smart phones and tablets have enabled insurance companies to gather and record information right at the scene of a claim adding pictures and detail that heretofore were not available.

This functionality has also extended to policies that can be quoted and underwritten right on the spot. One company, PCMSTech, has developed the Atlas system which offers brokers and agents the ability to issue and bind quotes while distributing policies in real-time via the Internet. Connectivity with a single computer system allows them to maintain underwriting rules and integrated ratings. This 24/7/365 available system, offers real-time quoting, policy issuance, billing, claims, correspondence and management report access – in fact everything that used to be done via mail, fax and phone can now be done in real time.

For large insurers, this allows their agents to operate as if they were in the home office. For agents, the simple user interface makes their job easier and compliant with company protocols.

The benefits to agents, companies and the insured are many. There is no waiting for access to the site and reports making feedback immediate and accurate. Agents can provide the quickest quotes and offer their customers time savings that have never been possible. Once the quote has been accepted, an agent can bind and issue policies on the spot and get all policy forms and correspondence having to do with the transaction immediately in real-time.

The days of waiting for the home office to bind and issue a policy which took days or weeks is over. Policy Administration Systems such as the Atlas system help agents and companies alike spend their time meeting the needs of their customers, not a huge paper infrastructure.

To learn more about insurance policies, check out this Wikipedia article.

Home Insulation in Cold Climates

Winter is definitely here.  It’s had a grip on the Chicagoland area since mid-November and hasn’t let up.  With the frigid temperatures we have experienced…-15 F. and below in some cases, you may have noticed that your home has felt cold in spots and drafty in others.  We noticed that there was air leakage by our electrical outlets which we hadn’t noticed in previous winters.

After a while, batt and blown-in insulation loses its loft, and may sag in wall cavities.  So if your home is more than 15 years old, you probably need to address your home’s insulation situation.

The best insulation in terms of R-value and efficiency is open or closed cell spray foam insulation. Spray foam creates a sealed barrier between the inside of your home and the elements protecting you from air movement (drafts), dampness penetration (moisture barrier) and cold or heat (thermal envelope). It is applied with a spray gun and the foam expands in the cavity filling all gaps and voids so there is no leakage of air, vapor or loss of temperature.

spray-foam_ceiling

The above photo and video shows how easy and efficient the spray foam process is. For best results, a professional should be used to apply the foam. Even older homes can benefit from spray foam insulation
to seal up the cracks and crevices that settling causes over time. For more information on spray foam including foam insulation costs, follow this link for more videos, photos and facts.

Atlas and AgenTree – Web-Based P&C Administration Software Agency Portal

For proven P&C administration software client references that show no increase or comparable staffing, the Atlas software suite and AgenTree delivers your complete satisfaction.

AgenTree allows for carriers to authenticate and assign access directly in brokers’ and agents’ offices.   Choosing appropriate authority levels such as for rates, quotes, bind and issue, AgenTree automates the entire policy and claim lifecycle.

PCMStech also guarantees price and Atlas is an all-inclusive P&C Administration software pricing model with a true fixed cost.

The system interface completely adjusts to portable devices including laptops, smart phones and tablets.  This reduces clicks and enables maximum usability and portability for users in the office or on the road.
P&C Administration Software

This software is developed with SOA compliant architecture.  This permits ease of change, modular reuse and interfaces well with third-party architectures.  This represents a major step up from current coded architectures that are out of date and time consuming to integrate and use.

The ‘once and done’ procedures enable straight through processing eliminating repetitive traditional and manual insurance operational tasks.  It is interesting to note that rule-driven processing for these managerial and administrative tasks, for example ISO and NCCI rates rules and forms, are completely automated.  Likewise, this also holds true for billing functions, data services, claims, underwriting and business intelligence tasks.

For more information on the Atlas suite of insurance software solutions and the AgenTree P&C Administration Software, visit pcmstech.com.

 
For more information on property and casualty insurance visit:

http://en.wikipedia.org/wiki/Property_insurance
 

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