Solartis Insurance Policy Life Cycle

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Solartis Policy Insurance Life Cycle
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Solartis Insure

• Partner with Solartis so you can focus your
  resources on a digital strategy that
  differentiates your insurance products in the
  marketplace.
• Leveraging Solartis policy life cycle web
  services in conjunction with third party digital
  content providers (ISO Electronic Rating Content,
  Google Maps, Thomson Reuters Oden, etc.) reduces
  the overall cost and timeline of your project and
  minimizes project risk.

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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.

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Clearance

• 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.

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Quote

• 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.

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Refer

• 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.

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• Propose

• Taxes Fees Compliance

• The proposal service varies based on the users
  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.)

• 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 Insures full Policy Life cycle
  or as a standalone service.

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• Bind

• Issue

• The bind process and the rules of binding an
  insurance risk varies based on the users
  authority, insurance product protocols and
  company rules. In Solartis Insure we configure
  the bind procedures and activities to conform to
  your unique bind requirements.

• 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.

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• Bill / Invoice

• Document Production

• 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.

• 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

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• Certificate of Insurance

• Endorsements Audits

• 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. 

• 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.

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Thank you