The Benefits of Using Authority Suite®
Pre-populated ISO Content Accelerates Insurance Product Development
Authority Suite®, powered by ProductAuthority®, is the most product-agile P&C policy administration system available, supporting complete ISO Electronic Rating Content for all ISO lines of business as well as company-specific lines of business. Insurers can choose full-service ISO product maintenance or, because of ProductAuthority's unique capabilities, they can create and manage ongoing updates on their own. With sophisticated insurance product configuration and management capabilities at its core, this "no code" solution enables the fast and easy inheritance and re-use of pre-built product components, such as company rates, rules, forms and calculations, to accelerate insurance product development and enable rapid business growth.
Separate Product from Process to Achieve "True" Speed to Market.
Authority Suite is powered by ProductAuthority®, the innovative insurance rating and product configurator. With insurance product configuration at the heart of the system, Authority Suite separates product from process by externalizing and storing all insurance product data and rules from multiple, hard coded operational systems into a centralized product repository where product components can be easily configured and modified. Insurers are able to inherit and re-use product components to make simple insurance product changes in days instead of months and develop multiple insurance products concurrently.
Lower Total Cost of Ownership (TCO).
Authority Suite is a rules and tools-based, highly configurable solution built on a modern technology platform, which substantially lowers Total Cost of Ownership (TCO). It can be deployed on a range of platforms, such as Linux, Windows, or UNIX (AIX/Solaris). Authority Suite is also designed to be database-agnostic and can be quickly configured to work with any relational database.
Automate Insurance Underwriting to Improve Efficiency and Reduce Costs.
Authority Suite can provide the necessary balance between automated processes and underwriter involvement. It can be used to automate the entire process-from the initial submission, to issuing the policy, to servicing post-issuance changes. Authority Suite includes a consolidated underwriting workstation that acts as a single-point-of-access for all policy information - across lines of business. By centralizing work management, providing a user-friendly interface to all underwriting functions and sophisticated underwriter workflows, Authority Suite eliminates redundant data entry and dramatically improves operational efficiencies, underwriting quality, improved business processes, response times and collaboration.
Gain Visibility Into the Insurance Product Development Process.
Further leveraging the power of ProductAuthority, Authority Suite provides a unique web-based product management workstation, Lifecycle Manager. Providing automated, configurable product development workflows Lifecycle Manager facilitates collaboration throughout the insurance product development life cycle. The workflows are designed to support processes related to new and change product requests including contract wording, drafting, and review, state filing package creation and review, and state (DOI) filing management. It provides visibility into the process to track and manage all tasks and participants involved in product development, which helps insurers eliminate bottlenecks, improve speed to market and deliver quality products to market up to 30% faster.
Integrate Easily with Other Best-of-Breed Tools.
Authority Suite is a best-of-breed P&C policy administration system that lets insurers select and integrate with other best-of-breed systems, such as claims, billing, and print solutions. When insurers make a strategic decision to replace these systems, they can easily adopt a new solution with minimal disruption to the policy administration system.
Make it Easier for Producers and Agents to do Business With You.
Authority Suite's online sales portal provides easy access for producers through an intuitive web-based User Interface; the system can be accessed from anywhere and is easy to navigate, which improves user adoption rates and increases satisfaction. Straight through processing improves the entire sales process because it shortens the time between application and policy issuance by reducing manual touch points.
