Automated Insurance Underwriting Software for Property & Casualty Insurance
Camilion is a leading provider of underwriting software for property & casualty insurance companies. Creating an automated, streamlined process reduces manual effort and cuts down on the cost and error associated with legacy underwriting systems. Authority Suite®, a flexible, modern, rules and tools-based policy administration system, helps mid-to-large size insurers stay ahead of their competition by dramatically improving efficiencies through reduced touch points and the elimination of manual data entry which allows underwriters to focus on revenue generating initiatives. Leveraging a service-oriented architecture (SOA) allows simplified integration of underwriting systems to other enterprise systems such as claims, billing, print, agency management systems and data warehouses for Straight Through Processing (STP).
Prospective clients can be assessed in same-day in-office or on-line policy transactions that would previously have required several days. Less manual effort is needed, reducing the cost and potential for error inherent in manual underwriting. Our enterprise underwriting solution dramatically increases underwriting efficiency by automating the entire underwriting process from initial submission to issuance. Automated insurance underwriting enables straight through processing (STP) and also provides insurers with a web-based, transactional portal for producers and customers. Using Authority Suite®, insurers can reduce costs, shorten sales cycles and enhance risk visibility and management.
Some of the benefits of automating and streamlining underwriting processes:
- Real-time delivery of quotes and policies - making you easier to do business with
- Same day policy issuance - electronic copies of policies to producers within minutes of underwriting approval
- Underwriting approval cycle accelerated - supported by automated workflows and an ability to easily collaborate
- Policies can be written from anywhere using online sales capability and straight-through processing
- Underwriting costs significantly reduced
- Automated web-based underwriting reduces the amount of error prone, manual data entry and facilitates collaboration
Camilion provided Cincinnati Specialty Underwriters (CSU) with a modern P&C policy administration system that provides real-time access for their underwriters to produce a policy wherever they may be. Read this article from National Underwriter on how insurers including CSU are getting their policy administration systems in top shape to be easier to do business with, with the ability to respond to the changing market conditions with relevant, profitable products in a timely manner.
