The WaterStreet P&C Insurance Suite is built on a robust configurable platform designed for Mutual Insurance Companies to bring products to market quickly and easily. WaterStreet gives you complete access to manage all phases of the policy lifecycle from quote to issue, to rating, to underwriting rules. Manage all your product lines from a single platform as well as integrate to third-party systems seamlessly.
WaterStreet Policy Administration for Insurance Carriers is built with a rules-based structure, customizable to your standards. Easily set your underwriting rules and guidelines. Automate tasks based on configurable business rules in real time within the software. Implement data validation to trigger warnings, referrals, and compliance notifications to ensure new policies comply with underwriting rules.
Billing & Accounts Receivable
WaterStreet offers a Billing & Accounting module that is fully integrated with our Claims and Policy Administration suite. This built in P&C insurance billing system seamlessly integrates with payment processing, premium accounting, regulatory reporting, and the WaterStreet Document Management system.
WaterStreet Claims Management allows carriers to manage the full end-to-end claims process within one solution. Log the First Notice of Loss, collect associated documents, identify urgent claims, detect fraud, and improve efficiency while managing high volumes of claims, all without sacrificing quality of service.
Flexible & Detailed Reporting
Track vital KPIs specific to the Insurance industry in a convenient visual dashboard designed to facilitate insight through data and accelerate data-driven decision-making. Executives, business leaders and beyond can analyze Loss Ratio data, Retention rates, Benchmark Gross Written Premium statistics and breakdown by line of business and yearly variances, Total Exposure and metrics related to Policies and Claims.
WaterStreet offers a fully branded and white-labeled policyholder portal included with the Policy Administration Suite. Insureds can access and update policy details, schedule online payments, and receive notifications to better help your agents to engage clients. Providing this level of customer convenience and interaction improves renewal rates, reduces customer service costs, and frees your resources to focus on other business priorities.
Manage Your Business from One Platform
The WaterStreet Platform is a fully managed, cloud solution deployed and hosted with Microsoft Azure web services. This high-availability solution delivers security and scalability to support all your business lines in all states. Our fully documented API and web services offer interoperability and integration across third party systems and services, creating a truly holistic view into operations without needing extra overhead to manage services. With WaterStreet, you can launch products quickly and easily to support your growing business.
Mutual Insurance & WaterStreet
Mutual insurance companies face unique needs and challenges due to their nature as being owned by policyholders with shared interests in success and profits going back into dividends for those same policyholders (or lower premiums). In order for Mutuals to remain viable over time, it is essential to find ways to both retain policyholders and grow membership numbers while still providing competitive pricing options along with outstanding customer service experiences.
By leveraging the WaterStreet P&C Insurance System, Mutuals can gain greater insight into their operations while increasing customer satisfaction – all while reducing operational costs at the same time! All in all, leveraging technology is an essential part of making sure your mutual insurance carrier remains competitive in today’s market.
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