Solartis Insurance Policy Life Cycle

The Solartis Insure platform is a complete set of insurance transaction web services in a secure, redundant, enterprise-level cloud environment. These web services span the entire sales and policy lifecycle process from initial rating and quoting to policy issuance and ongoing servicing. For an introduction of each Solartis web service, read on!

Solartis Insure: Supports the entire sales and policy life cycle or just the components you need.

1. Available in two delivery models: “Software as a Service” (with our User Interface) and “Platform as a Service” (with your User Interface).
2. Integrated with third party digital content (e.g., ISO Electronic Rating Content, Google Maps, Thomson Reuters Oden) to speed up time to market, guarantee accuracy and minimize implementation risks.
3. Deployed on all consumer devices – mobile, tablets and traditional computer browser interfaces.
4. Pricing is transaction based – no upfront license fees and you only pay for what you use.

Introduction to Solartis Insure Policy Life Cycle Services:

Enrollment / ePay:

Enrollment Service Example: The enrollee accesses the Solartis Service via a link on the desired company website. In a simple process, the enrollee selects the coverages they want, accepts any terms & conditions that may apply, enters insured and other relevant data, as well as payment information. The policy or certificate is emailed to the enrollee on completion of the process or the enrollee can download the document immediately. All subsequent transactions (e.g., future payment transactions and changes, coverage and policy modifications, reporting etc) are supported by the other Solartis Insure services.

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.

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.

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.

Underwrite

Depending on the level of automation desired, risk acceptance, rejection and referral rules can be automatically triggered in Solartis Insure. These rules are based on your product and company specific guidelines and can be as strict or as lenient as desired. Automated underwriting rules are generally implemented for insured or agent usage and when triggered either stops the user from issuing the quote or proposal or suggests the risk be referred to an underwriter. If no rules are triggered the user can continue processing the risk as specified by their permissions.

Propose

The proposal service varies based on the user’s authority, insurance product protocols and company rules. In Solartis Insure we tailor the proposal procedures and activities to conform to your unique requirements

Taxes & Fees Compliance

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 Insure’s full Policy Life cycle or as a standalone service.

Bind

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

Issue

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. 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.

Bill / Invoice

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.

Document Production

Solartis Insure generates the appropriate documents as PDFs for the specified transaction. These documents include:

• Quote and Underwriting Worksheets
• Proposal Letters
• Applications
• Binders
• Invoices
• Policy Declaration Pages
• ISO ERC (Forms)
• Carrier Specific Forms
• Certificates of Insurance
• State Surplus Lines Notices
• Endorsements
• Cancellations and Reinstatement Notices
• Renewal Policies

Certificate of Insurance and Auto ID Card Administration

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.

Endorsements & Audits

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.

Renewals

The Solartis Insure policy renewal process can be tailored to meet your specific carrier and program requirements: Example Process: At a defined date before the expiration date of a policy (i.e., 3 months) the system automatically creates a renewal quote containing the latest information on the policy and the latest application information in the system. We also pull information from other systems as needed ( e.g., claims, general ledger). Product specific renewal rules are triggered to determine what happens to the renewal quote. For example, if no flags are triggered the system generates the renewal quote and a pdf quote proposal will then be automatically sent to the broker or insured. If a flag is triggered (e.g., claims over a $ amount, non-payment of premium) then the renewal quote can be automatically generated so it must be reviewed by an underwriter.

Why Consider Solartis Administer for Insurance BPO?

As an Insurance carrier, you know there is no such thing as “business as usual”. Meeting client demands, managing mountains of paperwork, as well as staffing to grow in a changing and fluctuating business landscape – these are just a few of the struggles that our clients used to face… until they came to Solartis.

Solartis AdministerTM is an on-demand business process outsourcing service that removes the never ending struggles of employee turnover, training, and lack of available administrative resources. Solartis provides a team of insurance experts who are equipped to work with your technology and business processes. We eliminate backlogs within days without disruption to your clients. Once the backlogs are cleared:

• Submissions are routed to the appropriate underwriter within 30 minutes
• Policies are issued within 1 day
• Certificates of insurance are issued within 1 hour
• All loss runs are provided the same day

Our Customers

Our customers include Insurance Carriers, Insurance bpo services, Program Administrators, Brokers and Self-insured (RRG) Organizations. Every Solartis Customer is a Solartis reference.

Singular Focus

Solartis has a singular focus on insurance policy administrative services and activities. This has been our focus since our founding in 2004. Our 600+ employees are all dedicated to the insurance business.

Documented Business Processes

Our documented business processes, quality assurance procedures and service levels commitments have evolved overtime and are proven. Our insurance carrier, program administrator and broker customers empower us every day to process their time sensitive critical tasks and activities.

Custom Fit

Our services fit you, not the other way around. Flexible, mix and match services to support you where you need it on your system or ours. We support all commercial, personal lines and program business and are fluent in numerous processing systems and platforms.

Strategic or Stopgap

Solartis Administer can be used as a strategic or stopgap solution to help meet your short and long term processing needs.

Solartis Insure: Policy Life Cycle Services

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 content providers (like ISO ERC, Google, Oden etc) reduces the overall cost and timeline of your project and minimizes project risks as you are integrating with proven services and content instead of building them from scratch.

The Solartis Insure platform is a complete set of insurance transaction micro web services that are provided through standardized APIs in a secure, redundant, enterprise-level cloud environment. These micro web services span the entire sales and insurance life cycle policy process from initial rating and quoting to policy issuance and ongoing servicing. For an examination of each Solartis web service, read on!

The Solartis Insure Cloud Services: Supports the entire sales ad insurance policy life cycle or just the components you need.

1. Available in two delivery models: “Software as a Service” (with our User Interface) and “Platform as a Service” (with your User Interface).
2. Fully integrated with third party content providers like ISO ERC, Google and Oden to speed up time to market, guarantee accuracy and minimize implementation risks.
3. Can be utilized on all consumer devices – mobile, tablets and traditional computer browser interfaces.
4. Pricing is transaction based – no upfront license fees and you only pay for what you use.

Control Your Total Cost of Risk (TCOR)

Is Controlling Total Cost of Risk (TCOR) on Your To-Do List, but you’re not sure where to start? 

Let’s start by examining the 5 components of Total Cost of Risk. Click on each of the slices below to reveal key questions Risk Managers can answer to unlock opportunities to effectively manage risk.

• Insurance Premiums, Commissions, and Fees

• Claims and Loss Control

• Self-Insured Retention

• Internal Administration

• Outside Providers

Risk Managers are expected to calculate, benchmark and reduce Total Cost of Risk. Yet the unfortunate reality is that the data needed to effectively manage TCOR often resides in solos, or is out of reach. How can you be an effective driver in your RMIS process when you’re plagued with policy administration tasks, gathering and managing data from disparate systems and lack the critical visibility into all the components that make up your Total Cost of Risk?

Meet Solartis Risk & Policy Manager™

A unique, cloud-based RMIS system to track and manage your Insurance Policies, Coverages, Premiums and Claims, as well as your Covered Participant’s Assets, Premium Contributions and Activities

With Solartis Risk & Policy Manager™, Risk Managers can finally:

• Issue policy documents and generate reports quickly
• Easily access asset, exposure and premiums data in a single location to control TCOR
• Be proactive in identifying risk with accurate and up to date COPE data
• Use creative approaches to protect assets
• Organize and administer all insurance information and documents easily
• Allocate premium contributions accurately
• Collaborate effectively with multiple stakeholders on a single platform

Learn about Solartis Risk & Policy Manager™

in Two and a Half Minutes

The best part? Costs with Solartis are approximately 1/3 the cost of traditional RMIS. Our revolutionary pricing model rewards users for effective risk management. If TCOR goes down, you pay less!

Solartis Insure

Solartis Insure cloud based services support each process in the insurance policy lifecycle – either as modules to integrate with your existing technology or as an end-to-end solution.

Enrollment

    Solartis life cycle of an insurance policy services include enrollment and payment capabilities for enrollees to select and purchase insurance coverage online. Online enrollment and 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. Enrollment Service Example: The enrollee accesses the Solartis Service via a link on the desired company website. In a simple process, the enrollee selects the coverages they want, accepts any terms & conditions that may apply, enters insured and other relevant data, as well as payment information. The policy or certificate is emailed to the enrollee on completion of the process or the enrollee can download the document immediately. All subsequent transactions (e.g., future payment transactions and changes, coverage and policy modifications, reporting etc) are supported by the other Solartis Insure services.

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.

Renewals

The Solartis insurance life cycle policy renewal process can be tailored to meet your specific carrier and program requirements: Example Process: At a defined date before the expiration date of a policy (i.e., 3 months) the system automatically creates a renewal quote containing the latest information on the policy and the latest application information in the system. We also pull information from other systems as needed ( e.g., claims, general ledger). Product specific renewal rules are triggered to determine what happens to the renewal quote. For example, if no flags are triggered the system generates the renewal quote and a pdf quote proposal will then be automatically sent to the broker or insured. If a flag is triggered (e.g., claims over a $ amount, non-payment of premium) then the renewal quote can be automatically generated so it must be reviewed by an underwriter.

Document Production

Solartis Insure generates the appropriate documents as PDFs for the specified transaction. These documents include:

• Quote and Underwriting Worksheets
• Proposal Letters
• Applications
• Binders
• Invoices
• Policy Declaration Pages
• Attaching Forms
• Certificates of Insurance
• State Surplus Lines Notices
• Endorsements
• Cancellations and Reinstatement Notices
• Renewal Policies

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.

Cancellations / Reinstatement

Cancellations and Reinstatement transactions are fully supported in Solartis Insure for authorized users. The return or additional premium is calculated based on either flat, short term or prorate calculations. The appropriate documents are produced as PDFs. A Web Service Integration is available with the Oden Product for state specific cancellation rules and regulations.

Policy Life Cycle Services

Solartis Insure cloud based services support each process in the policy life cycle – either as modules to integrate with your existing technology or as an end-to-end solution

Enrollment

Solartis Insure services include enrollment and payment capabilities for enrollees to select and purchase insurance coverage online. Online enrollment and payment is increasingly being viewed as “must-have” functionality for consumer business worldwide

Clearance

Clearance begins with a search to determine whether the applicant already exists in the Solartis Insure database

Quote

Quick Quote capabilities are available for all user types (e.g., insureds, brokers, underwriters etc). This allows the user to obtain a quote proposal instantly by entering the minimum amount of information.

Underwrite

Depending on the level of automation desired, risk acceptance, rejection and referral rules can be automatically triggered in Solartis Insure

Propose

The proposal process varies based on the user’s authority, insurance product protocols and company rules. In Solartis Insure we tailor the proposal procedures and activities to conform to your unique requirements

Taxes and Fees Compliance

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 Insure’s full Policy Life cycle or as a standalone service.

Renewals

The Solartis Insure policy renewal process can be tailored to meet your specific carrier and program requirements

Cancellations / Reinstatements

Cancellations and Reinstatement transactions are fully supported in Solartis Insure for authorized users. The return or additional premium is calculated based on either flat, short term or prorate calculations. The appropriate documents are produced as PDFs. A Web Service Integration is available with the Oden Product for state specific cancellation rules and regulations