Overview
An end-to-end policy administration system providing an intuitive platform, Ventiv Policy supports Commercial P&C and MPL insurance lines and has over 200 lines of coverage currently in production. Ventiv Policy’s full set of features include loss control, flexible rating, personalized design, policy workflow, diaries, contact management, certificate issuance, reporting and analytics. Ventiv Policy also features a fully configurable web member/agent portal.
Key Features
Ventiv Policy provides:
- Policy quoting, renewal and endorsement processing
- Configurable underwriting, questions, rating and rate packages
- Provider policy summary
- Tracking of shared or separate limits
- Premium generation and allocation for all lines of business
- Endorsements: allocation and endorsement schedules
- Automated calculation of ex-mods
- Invoicing and Online BillPay
- Agency management
- Declarations, certificates, and loss runs
- On-demand reports and schedules, ad hoc reporting and advanced analytics
- Providers: Tracking of demographic and credential data, specialty assignment, education tracking, policy profile summary
Key Benefits
Ventiv Policy helps carriers:
- Reduce duration and expenses for policy issuance and renewals
- Decrease time to market with more competitive pricing
- Support automation and STP with pre-configured business rules and configurable workflows
- Provide insureds and brokers with self-service policy and underwriting experience
- Improve underwriter productivity
- Reduce exposure to uninsured and underinsured vendor