Within Console, we have developed an underwriting module which is fully integrated with the claims module as part of our insurance platform. The underwriting system is much more than just a rating engine. It incorporates a document management system which enables work flow and an email gateway directly to and from an underwriting folder. It allows you to keep a directory of wordings and endorsements in addition to your individual policies which will time track endorsements. With compliance in mind, the underwriting system can generate declarations to satisfy your regulator and is capable of conducting real time sanction screens by using our sanctions screening software, which is endorsed by Lloyd's of London.
The system is capable of providing an array of MI, including:
- Between Different Stamps
- Reporting Splitson the Real-Time Declinature Rate
- Triangulation Reports Fed Directly From the Claims System
- Establishing Earning Patterns
- Deviation From Technical Premium
- Reasons for Variation From Technical Premium
- How Many Times You Have Re-Quoted for Same Risk
- NTU Rate With Graph Showing the Underlying Causes
- Split of Firm by Turnover
- Geographical Split
- New Business Bound Between Two Dates
- Monitoring of Distribution Channels and Networks, Complaints and Other Conduct Risk Reports
The module would be fully bespoke to your requirements as we would spend the time with you before the system build to establish what you want to report on, your automatic referral points, your rating matrix and any other requirements from your underwriting guide.