In an effort to reduce operational expenses and accelerate policy issuance cycle time, SECURA Insurance, a property and casualty (P&C) insurance carrier, has implemented a Web-based P&C policy administration platform, Cover-All Policy, from Cover-All Technologies, a provider of insurance software solutions for the P&C insurance market.
As a mutual P&C insurance company, SECURA Insurance offers insurance products for businesses, homes and autos, farms, non-profits, and special events.
Cover-All provides policy and commercial insurance professionals with Web-based (or browser-based) software solutions for managing insurance operations. Some of its key offerings include Cover-All Policy, BlueWave Claims and Cover-All Business Intelligence (BI).
The Cover-All Policy P&C policy administration system, which is deployed by SECURA, is a complete Web-based platform that offers real-time management for carriers and agencies by managing the complete policy lifecycle, including policy administration, rating and issuance, automated workflow, underwriting, document generation, billing, business, statutory reporting, regulatory compliance and more.
Some of the key bureau products offered with Cover-All Policy platform include production ready International organization for standardization (ISO) and National Council on Compensation Insurance (NCCI) products for all 50 states, including the ISO Commercial Auto.
With the implementation of Cover-All Policy platform, SECURA is now able to provide enhanced user experience, improved risk selection, and pertinent pricing based on real-time pricing tools, as the platform features complete policy lifecycle management, automated out-of-sequence endorsement, integrated document management, location geocoding and more.
In addition, the Cover-All Policy platform provides information on company, program, and market segment-based deviations, access to varied companies rates, rules, and forms and multi-state policies.
The ISO Commercial Auto deployment, which is part of the Cover-All Policy platform offering, includes Business Auto, garage and truckers coverage too.
All these features together will benefit SECURA with advanced rating plans such as experience rating, schedule rating, and fleet rating, underwriting rules and workflow, automated renewal processing and more.
Edited by Rachel Ramsey