Quickly implement complex, automated, rule based underwriting logic across multiple Lines of Business.
A Quicker Way to Implement Underwriting
The eVolve Point of Sale module enables Carriers & MGA’s to quickly implement complex, automated, rule based underwriting logic across multiple Lines of Business, in multiple states via multiple distribution channels (Carrier > Agent, Carrier > MGA > Producer, Carrier > Direct, MGA > Agent/Producer > Agency Website etc.). The Rating, Underwriting, application submission and Policy Issuance process has increasingly become a more automated and intelligent process allowing for maximum costs savings
Policy Intelligence is a core function of our POS solutions and provides effective support for complex automated business/underwriting rules as well as rule based billing plan logic where down payment options, payment instrument options and billing plans options are dependent on certain risk data and third party data providers such as MVR’s, CLUE, Current Carrier, HOV, VerRisk, Marshall & Swift etc.
As a result of digesting all desired data sources and applying policy intelligence we can then rank the risk to determine if it is available for auto issuance with or without a follow up review, or if the risk requires UW review and approval prior to issuance. These rules vary amongst different lines of business and our system allows each customer to drive what the business rule requirements are regardless of how complex or simple they are.
In addition to efficiently automating the entire POS process we also provide a customer driven rule based process which allows each customer to set the parameters of which risks require Point of Sale supporting Document uploads, follow up UW Audit and which automatically require the system to atomically generate a Suspense/Diary for follow up on required supporting documents.
Our POS solutions also come with an integrated eSignature solution which has been used in production by a number of customers over the past several years and has processed well over 75,000 POS policies issued. The eSignature process along with the ability to upload documents at the POS allows for a completely paperless process.
e-Volve POS™ is available as a standalone system or as part of the e-Volve Suite™ and can be integrated with legacy systems and third party applications.