policy. administration. system. WORKERS’ COMPENSATION.
CompVISION
Quote > Rate > Issue > Bind
Workers Compensation PAS handling multi-company, 50-state quote, rate, policy issuance, policy administration, premium accounting, audit, and NCCI compliance reporting.
Rating
Rating
Integral part of the solution with the vast functionality needed for various rating scenarios:
Guaranteed Cost, Loss Sensitive Rating, Retrospective Rating and Custom filed rating plans.
Multiple Insuring Companies
Multiple States on a single policy
Multiple Tiers
Guaranteed Cost, Loss Sensitive Rating, Retrospective Rating and Custom filed rating plans.
Multiple Insuring Companies
Multiple States on a single policy
Multiple Tiers
Accounting & Billing
Accounting & Billing
Direct agency or billing available
User Defined payment plans
Available Billing by Policy, State, Entity, Location
Partial payments, prepayment of balance
Security Deposits, Letter of Credit
Billing Fees
Cash Suspense processing
Adjustment of misapplied cash
Automatic commission calculation
Sliding scale commission
User Defined payment plans
Available Billing by Policy, State, Entity, Location
Partial payments, prepayment of balance
Security Deposits, Letter of Credit
Billing Fees
Cash Suspense processing
Adjustment of misapplied cash
Automatic commission calculation
Sliding scale commission
Forms
Forms
User definition and creation of forms
State mandated and company required forms
Automatic attachment of appropriate forms to Policy based on predefined conditions
User requested attachments of forms to policy
Carrier specific forms
Rating data mapped to forms
State mandated and company required forms
Automatic attachment of appropriate forms to Policy based on predefined conditions
User requested attachments of forms to policy
Carrier specific forms
Rating data mapped to forms
Customer Service
Customer Service
Online access to all versions of Policy
CSR: One stop shop
Agent has the ability to view their own accounts, generate reports
CSR: One stop shop
Agent has the ability to view their own accounts, generate reports
Marketing & Sales
Marketing & Sales
Agency and Direct
Direct Quotation Submission
Web quotation submission via Acord form
Tracking of marketing information
Quote Ratios
Hit Ratios
Direct Quotation Submission
Web quotation submission via Acord form
Tracking of marketing information
Quote Ratios
Hit Ratios
Premium Audit
Premium Audit
Types of Audit available:
Final, Interim, and Pay by Payroll
User defined scheduling
Automatic audit assignment and worksheet generation
Access and Print information online in real-time
Final, Interim, and Pay by Payroll
User defined scheduling
Automatic audit assignment and worksheet generation
Access and Print information online in real-time
Underwriting
Underwriting
Policy Management:
Data transfer to Policy from bound quote
New business, endorsements, cancellations, reinstatements, renewals, non-renewals
Automatic Forms Attachment
Comprehensive Search and Policy Inquiry
Ability to determine coverage at any point in time
Data transfer to Policy from bound quote
New business, endorsements, cancellations, reinstatements, renewals, non-renewals
Automatic Forms Attachment
Comprehensive Search and Policy Inquiry
Ability to determine coverage at any point in time
Configuration & Product Definition
Configuration & Product Definition
Quote, Rate, Issue, Policy Trans, Billing & Claims rules and definitions are configurable
All modules pull from configuration
Rating- tables store rates and factors
Even State Specific rating rules are configurable
All States & jurisdictions are out of the box
All policy forms and state claims forms are out of the box
All modules pull from configuration
Rating- tables store rates and factors
Even State Specific rating rules are configurable
All States & jurisdictions are out of the box
All policy forms and state claims forms are out of the box
What makes CompVISION different?
Pre-Loaded Content
NCCI Rates
State Forms
WCPOLS Reporting
Acord Compliant
Depth in Comp Complexity
Handle the complex with configurable ease including All Rating Plans, Large Deductibles, Retrospectively Rated, Customized Programs
SOA Architecture
CompVISION can be deployed “headless” in concert with multi-line systems, underwriting workstations, and third party portals.
Web Rating Standalone
Need the industry’s most advanced ratings engine, only. CompVISION’s Web Rating Engine can be deployed independently.
