Solartis Sales and Policy Life Cycle Services
The Solartis Insure platform is a complete set of insurance transaction web services in a secure, redundant, enterprise-level cloud environment. These web services span the entire sales and policy lifecycle process from initial rating and quoting to policy issuance and ongoing servicing.
Introduction to Solartis InsureTM
Policy Life Cycle Services:
Click on each box to learn more about the features Solartis offers as part of their Insurance Policy Life Cycle Services.
Enrollment / ePay
Solartis Insure services include enrollment and e-payment capabilities for enrollees to select and purchase insurance coverage online. Online enrollment and e-payment is increasingly being viewed as “must-have” functionality for consumer business worldwide. From a customer service standpoint, potential enrollees are demanding quick and easy ways to select and buy coverage. From a profitability standpoint, the low premium per enrollee requires that administrative and customer service costs be kept at a minimum.
Enrollment Service Example: The enrollee accesses the Solartis Service via a link on the desired company website. In a simple process, the enrollee selects the coverages they want, accepts any terms & conditions that may apply, enters insured and other relevant data, as well as payment information. The policy or certificate is emailed to the enrollee on completion of the process or the enrollee can download the document immediately. All subsequent transactions (e.g., future payment transactions and changes, coverage and policy modifications, reporting etc) are supported by the other Solartis Insure services.
Clearance begins with a search to determine whether the applicant already exists in the Solartis Insure database. The search can either be manually initiated or automated to display “close match” results. User level rules can be set to determine whether a user is authorized to see the search results or simply presented with a “Clearance issue” screen.
For example, a Broker may be referred to an underwriter if the search identifies that the applicant is an existing insured associated with another Broker.
Risk and Coverage information is entered into the system by an authorized user. The system utilizes either the ISO ERC content or the customer specific configured content (your rates, rules, algorithms and forms). The coverage premiums are displayed on the screen for review by the user. At this time, a rating worksheet or quote proposal can be produced as a PDF. Additional copies of the quote (and its corresponding output) can be produced as needed.
- Quick Quote capabilities are available for all user types (e.g., insureds, brokers, underwriters etc). This allows the user to obtain a quote proposal instantly by entering the minimum amount of information.
- Carrier and / or Coverage shopper capabilities can be configured if desired. Shopper screens display multiple premium options for the user (e.g., insured, retail agent) to choose from.
A Referral is sending the risk or task to another user for review and / or processing. Referrals can be either system triggered based on rules or manually triggered by the user (i.e., broker). Additional correspondence can accompany the referral (by entering info into the quote record or attaching a imaged document). The quote status is changed to “Submit” when referred. Workflow rules determine which user (i.e., underwriter) gets the referral. The referral recipient (i.e., underwriter) can decline, underwrite and price, and create a quote proposal. The process can occur as many times as necessary between multiple users (i.e., the broker and the underwriter). All transactions and activity is stored and auditable.
Depending on the level of automation desired, risk acceptance, rejection and referral rules can be automatically triggered in Solartis Insure. These rules are based on your product and company specific guidelines and can be as strict or as lenient as desired. Automated underwriting rules are generally implemented for insured or agent usage and when triggered either stops the user from issuing the quote or proposal or suggests the risk be referred to an underwriter. If no rules are triggered the user can continue processing the risk as specified by their permissions.
The proposal service varies based on the user’s authority, insurance product protocols and company rules. In Solartis Insure we tailor the proposal procedures and activities to conform to your unique requirements: For example:
- Once a proposal is issued the quote is locked to prevent undocumented changes
- Multiple versions of a proposal (quote) can be produced and are tracked to support desired changes / quote iterations
- Proposal and / or worksheet documents are produced as PDFs to be emailed or distributed to the brokers and / or insureds
- Supporting information and documentation can be produced with the proposal (e.g., application documents, schedule of forms, instruction packets, etc.)
Taxes & Fees Compliance
Maintenance of State Taxes and fees for each state are becoming more complex and challenging for companies to maintain. Solartis State Surplus Lines Tax and Fee Services can be purchased as part of Solartis Insure’s full Policy Life cycle or as a standalone service.
- State Surplus Lines Tax and Fee Calculations:
- Web Service interface
- State level Taxes, Fees and Surcharge values/factors and algorithms
- Personal and Commercial Lines, All states
- Option for authorized user to override system values/factors
- Real-time response (quote re-calculations, binder issuance, mid-term endorsements, cancels, re-writes)
- State Surplus Lines Tax Regulatory Reporting Support
- Web Service feed to third-party Regulatory Reporting systems
The bind process and the rules of binding an insurance risk varies based on the user’s authority, insurance product protocols and company rules. In Solartis Insure we configure the bind procedures and activities to conform to your unique bind requirements.
Example of a retail agent submitting a request to bind: Once a quote proposal is produced and accepted, the retail agent can request a binder. This is generally performed as a referral to the underwriter. Once the binder request is received by the underwriter, the underwriter has full access to all entered and received information for review and approval. A rating worksheet is available to the underwriter for applying underwriter surcharges / deviations (if needed). Upon underwriter acceptance, the underwriter issues the binder (with the designated effective date and any desired conditions). The binder (and its supporting documents) is available as a PDF to the retail agent. The underwriter can email the binder to the retail agent or he can access it via Solartis Insure.
Example of a retail agent with binding authority: Once a quote proposal is produced and accepted (accepted because it meets the automated underwriting guidelines) the approved retail agent has the authority to ether request a binder from the underwriter or issue the binder themselves. All desired documents and binder conditions will be provided based on the retail agent’s authority and automating underwriting rules.
The Solartis Insure issuance process can be tailored to meet your specific carrier and program requirements: Example Workflow: Once the bind transaction is issued the binder document is produced and a policy number is assigned (user or system generated). A policy issuance checklist or the Solartis Insure subjectivity service is invoked to ensure all proper information is received and procedures are followed before issuance occurs. All policy declaration pages and its attachments (based on coverages selected) are available for preview before issuance. If needed, additional forms can be selected from the forms library. All policy documents are produced and stored in a PDF. The PDF document is available to all designated parties via printing, email or accessible in Solartis Insure. All policy documents can be exported to document management systems for external storage.
Bill / Invoice
At the appropriate point in the policy life cycle, Solartis Insure generates electronic or paper invoices. Invoices can be issued as a standalone process or in conjunction with other policy transactions (e.g., bind, renew). For installment based invoicing and endorsement transactions, Solartis Insure generates the invoice at the designated point in the policy life cycle.
- A copy of the invoice transaction (and invoice PDF) is stored with the policy record
- A complete record of all invoice transactions (and payments received) are maintained in Solartis Insure
Solartis Insure generates the appropriate documents as PDFs for the specified transaction. These documents include:
- Quote and Underwriting Worksheets
- Proposal Letters
- Policy Declaration Pages
- ISO ERC (Forms)
- Carrier Specific Forms
- Certificates of Insurance
- State Surplus Lines Notices
- Cancellations and Reinstatement Notices
- Renewal Policies
All policy documents are produced and stored as PDFs. The PDF document is available to all designated parties via printing, email or accessible in Solartis Insure. All policy documents can be exported to document management systems for external storage.
Certificate of Insurance and Auto ID Card Administration
ACORD Certificates of Insurance, ACORD Evidence of Insurance and Auto ID Cards are dynamically generated on-demand. Automated business rules determine whether the Certificate Record is complete and whether the user is authorized to issue. The Certificate of Insurance is auto-populated with data from the Certificate Record. Solartis Insure’s Certificate Issuance Services includes the following:
- Certificate Processing Instructions
- Templates (ACORD)
- Distribution (email, fax, off-site and local print, web)
- Ad Hoc Request Processing
- Batch / Renewal Processing
- Client / Broker Self Service
- Record / Certificate Management
- Performance and audit activities
- Regulatory Compliance (e.g. OFAC, ACORD)
Endorsements & Audits
All policy endorsements and audits are supported in Solartis Insure. Once the policy is issued, the designated user selects to add the endorsement or audit, and modifies the appropriate policy information. If the premium is to be adjusted the system re-rates the policy with the new information and displays back the annual and pro rata coverage premiums / changes for review. When the designated user issues the endorsement or audit the appropriate forms are produced from the system. A complete history of all policy transactions are stored in Solartis Insure.
The Solartis Insure policy renewal process can be tailored to meet your specific carrier and program requirements: Example Process: At a defined date before the expiration date of a policy (i.e., 3 months) the system automatically creates a renewal quote containing the latest information on the policy and the latest application information in the system. We also pull information from other systems as needed ( e.g., claims, general ledger). Product specific renewal rules are triggered to determine what happens to the renewal quote. For example, if no flags are triggered the system generates the renewal quote and a pdf quote proposal will then be automatically sent to the broker or insured. If a flag is triggered (e.g., claims over a $ amount, non-payment of premium) then the renewal quote can be automatically generated so it must be reviewed by an underwriter.