OverviewData WarehousePolicy AdministrationClaims AdministrationInsurance AccountingMember Portal

Risk360°/Policy Administration automates the entire new business and renewal underwriting and policy administration functions of your pool, including the following key functional capabilities:

• Maintain complete history of exposures, coverages and premium for each policy.
• Fully automated rating with override capability for special exceptions.
• Production of declaration sheets and schedules.
• Automatic creation of invoices and credit memos through the Risk360°/Insurance Accounting module.
• Issue and track certificates of insurance.
• On-line underwriting notes.
• Fully automated calculation of ceded premium.
• Browser-based user interface for simple maintenance and short learning curve.
• Supports all Property, Casualty and Workers Compensation coverages including:
  • Property
  • Auto Liability
  • Crime
  • General Liability
  • Boiler & Machinery
  • Garagekeepers Liability
  • Business Interruption
  • Public Officials Liability
  • Inland Marine
  • Law Enforcement Liability
  • Auto Physical Damage
  • Excess Liability

Flexibility

Risk360°/Policy Administration is designed from the ground up to conform to the unique information technology needs of each pool through the Customization Through ConfigurationTM feature. This module has a very large set of parameters, some of which include:

• Coverages and sub-coverages that are being sold and their options for deductible, limit etc.
• Exposures used to calculate premium.
• Exposures that are scheduled vs. reported in aggregate.
• Data elements to be captured for each type of scheduled exposure.
• Rating formulas, rates and rate modifying factors for each combination of rating
  classification and coverage.
• Pool underwriting rules and policies.

Key Benefits

• Creates substantial operational efficiency so that a large volume of membership
  servic ing activity can be performed by a relatively small staff.
• Data is consistent, accurate, and detailed for both internal and external management reporting using Risk360°/Data Warehouse.
• Lifetime cost of ownership is significantly reduced by Customization Through ConfigurationTM and web browser based design.