More than Loss Control — Underwriting is a Customer Service Opportunity
In a soft market, Underwriting's primary customer becomes the agent. Ease of doing business becomes critical in the scramble for agent submissions. A system can increase ease of doing business in several ways: one is to provide real-time collaborative means for the underwriter and agent to do business in ways that reduce or automate the use of email.
An underwriting system should enable your underwriters to do their role more easily and spend more time working on cases that make use of their talents and improve loss control. A good underwriting system provides the means to lower response times and build relationships with agents. A great underwriting system does all of this.
Give your Underwriters the Tools to Excel
SurePower Innovation's sophisticated, rules-based workflows instantly sort new applications, renewals, and endorsements into those that can be handled automatically and those that require an underwriter's touch.
A great system should also include Underwriting within the system-wide rules-engine, breaking down the walls that traditionally separate Underwriting from other core functions. This eliminates redundant or even contradictory rules and workflows, increases transparency within Underwriting and for all other stakeholders in your company, and exposes information to be actionable by Underwriting and other departments.
Rules-based validation also ensures that underwriters are complying with your company underwriting policy and knowingly creating exceptions to capture potential added value.
You have all your Organization's Information at your Fingertips
With SurePower Innovation an underwriter presented with a policy application, change, or renewal knows everything about the customer that is in the system: claims data, billing data, notes, documentation sent and received, other coverages held and all information for them.
The underwriter also knows all information that is pulled from third-party sources. SurePower Innovation makes this efficient through its use of standards and Web services.
All information is available real-time.
Reduce Underwriting Cycle Time
SurePower Innovation is a rules-based and roles-based system. For underwriting, business rules can automate some underwriting decisions completely. Underwriters are free to concentrate on the cases that require their skills.
The sophisticated roles capabilities include the system itself as a participant; many tasks can be assigned to the system. These may include notifications, reminders, and workflow, such as routing and escalation.
Benefits of this added speed include better service for agents and insureds, leading to more new business booked, higher retention, and greater likelihood an independent agent will select your company for the next opportunity.
Full, Instant Integration with Agent & Customer Application Sources
An application is "in" the system instantly, whether an application is input by an agent through SurePower Innovation's agent portal or by the customer through a direct-to-consumer sales portal. An underwriter has instant access to all the information the second the agent or customer clicks the "Submit" button.
The same instant access applies to changes to a policy, whether initiated by an agent, the customer, or internal staff.
Because the agent's or consumer's view is created out of the same system, an underwriter can view what the agent's or consumer's screen and see what may be causing a problem with what they have entered.
Easy to Configure for Regulation and Compliance Changes
SurePower Innovation enables you to manage risk and compliance with real-time monitoring and alerts. Our powerful rules capability lets you easily make changes as regulations change or your company guidelines change.