Featured partner: Insurity (now LexisNexis)
Streamlining the insurance supply chain
Insurity (now LexisNexis) provides effective business-process management to the insurance industry. Through their Insurance Decisions suite, they provide policy administration, claims administration, compliance management, regulatory reporting, reinsurance, billing, ASP, BPO, and maintenance services to carriers, MGAs, brokers, agents, and TPAs. They also provide support services from needs assessment to project planning, from application-input to customized reporting, from interface development to disaster recovery. By offering these services, Insurity improves the operational and financial performance of insurers by improving the processes of risk-acceptance and loss-mitigation-enhancing risk selection, automating underwriting, reducing claim severity and cycle time, increasing efficiency, reducing expenses, and improving outcomes.
Insurity leverages its deep insurance expertise and heritage to offer a wing-to-wing solution that streamlines the insurance supply chain.
The Insurance Decisions Suite of products includes these features:
| • | All commercial and personal lines of business capabilities on one platform including: agent/carrier portal, policy administration, claims, billing, and reporting: Data warehouse and dimensional models with business intelligence |
| • | Effective decision-support for all parties in the value chain |
| • | Secure access for policyholders, agents, CSRs (Customer Service Representatives), MGAs (Managing General Agents), and others |
| • | Customizable screen configurations and workflows that support various user types |
| • | Scalability for increasing traffic and processing demands |
| • | The ability to distribute more functionality and underwriting authority to agents\brokers |
| • | Real-time transactions giving policyholders, agents, service reps, adjusters, and others up-to-date status every moment |
| • | Improved access to and control of data, enabling faster and more efficient decision-making |
| • | Availability as traditional deployed applications, or fully hosted and managed by Insurity |
Within the Insurance Decisions Suite, the Policy Decisions application includes:
| • | Complete support for all major commercial and personal lines of business including many specialty or custom lines |
| • | Content for all supported lines including a broad array of functions as well ISO (Insurance Services Office)/AAIS (American Association of Insurance Services)/NCCI (National Council on Compensation Insurance)/State Bureau rate rules and forms |
| • | Maintenance services across customer base that leverages economies of scale to provide ongoing support for all ISO, and similar organization content changes and updates, including company-specific content |
| • | Point-of-sale application data-capture with third-party data integration, scoring, and referral-management workflow |
| • | Enhanced support for pricing, premiums, products, and programs |
| • | Automatic form selection by company, state, and coverage |
| • | Integrated print solution |
| • | Flexible output in real-time, batch, or by e-mail |
| • | Integration with alternative print\publishing applications, imaging\document management systems |
| • | The full policy life cycle: submission, quoting, binding, issuance, endorsements, renewals, cancellations/reinstatements, audits, and so on |
| • | Tools-based underwriting rules to manage scoring and risk eligibility |
| • | Rules-driven automation with exception referrals |
| • | Authority controls and authorization workflow queues |
| • | Intelligent data capture including integrated third-party data [MVRs (Motor Vehicle Report), CLUE (Comprehensive Loss Underwriting Exchange), credit, and so on] |
| • | Automatic statistical coding, including onsets/offsets to feed bureau reporting or other downstream systems |
