Oceanwide's underwriting software can be used directly by insurers and other insurance program administrators to:
- Record all submissions quote and policy details
- Process Renewals, Cancellations , Re-instatements and all type of financial or non-financial Endorsement transactions
- Fulfill validations throughout the process based on the configured business rules or workflow for each transaction type
- Issue quote, policy, endorsement and other documentation based on intelligent MS-Word based templates that leverage system data and underwriting rules
The underwriting software allows business-level users to take advantage of intuitive self-service tools to configure all their insurance software products. Specifically, you can:
- Configure multiple branded portals to offer specific insurance software products.
- Configure data fields to be used throughout the underwriter system.
- Build screens and workflow used to create a risk submission.
- Configure validation rules, such as when to trigger a referral, when and to whom to send e-mail notifications and when to force users to correct and re-submit data.
- Set up all rating rules including all applicable rates, multipliers, flat premiums, minimum premiums, applicable fees and taxes.
Once configured, underwriters can grant access to brokers, agents and customers through branded portals and allow them to:
- Create submissions and obtain quotes
- Bind cover and issue policy documentation
- Request or process endorsements
- Provide input throughout the renewal process
- Access and view all policy-related details and documents
- Run risk management reports
- Report first notices of loss
Please contact us to find out more about our underwriting software solution.