Policy Administration for P&C Carriers, MGAs & More
Gain access to the following powerful features for managing the policy lifecycle:
Policy Lifecycle Management
Web-based Application, Quoting, Rating, Underwriting, Binding, Issuance
Fast Efficient Rating
A robust, built-in rating engine for real-time premium calculation
Multiple Lines of Business
Flexibility to manage the full policy lifecycle for multiple product lines from a single platform
Configure business rules, triggers and comprehensive underwriting rules with user-defined security levels
Dynamic Document Management
Seamlessly integrated document generation, distribution, and storage
API & Web Services
WaterStreet’s fully published and documented API extends system functionality by integrating to all your business applications
We aim to keep your company within one unified solution. Manage a historical catalogue of all documents related to policyholders for seamlessly generating and distributing policy documents across your team. Gain efficiencies, ensure accuracy and maintain organization in a cloud-based environment. Our robust and agile API allows us to connect to any number of desired third party solutions. As your business grows and seeks new, innovative data to support decisions, our software team will help bring this vital data into your system.
PAS Key Features
– Connect with Claims & Billing Administration for seamlessly issuing payment.
– Access 60+ Standard Reports as well as real-time data analytics tools for configuring custom reports and dashboards.
– Access Document Management at the center of your solution for generating documents and maintaining a historical catalogue.
– Connect with any number of third party solutions through WaterStreet’s robust API.
– Offer your customers their own white label Insured Portal, built with a mobile-reactive design for accessing on mobile devices.
– Think outside the box with our highly flexible solution and software development team to enable self-service quoting and more.
WaterStreet’s Unparalleled Business Value
Gain the following benefits with a cloud-based Policy Administration System:
Faster Speed to Market
Enables you to respond faster to changing market demands
Improve Producer Performance
Implement strategies by coverage and policies to identify cross-selling opportunities
Enhance Customer Experience
Portal & Mobile Access, Digital Engagement Capabilities to Elevate the Customer Experience
Process Automation and Real-Time Reporting Ensure Fast and Deliver Timely and Accurate Data for Accountability and Visibility
Faster, more efficient workflows mean cost savings for your company and greater customer satisfaction for the insured. Don’t wait to switch from a dated legacy system. The benefits of a cloud-based Policy Administration System allow for company-wide growth and an edge in your competitive landscape.
What is a Policy Administration System?
Policy Administration Software (PAS) systems guide administrators to easily complete the policy administration lifecycle. Customers are led through the price quote and application process with simple and clear questions, allowing the administrator to repeat these processes for each new customer.
Why Choose the WaterStreet Policy Administration System?
Policy administrators today are challenged by unique product lines. With WaterStreet’s Policy Administration Software, the system’s logic alerts the administrator to any issues with the customer’s application. WaterStreet works with your company to configure business rules, giving policy administrators a clear path for enrolling new policyholders, and adding new product lines as your business grows. Take advantage of our robust API for allowing third party integrations to pull additional information into the policyholder’s application for completion, including location data, historical claims data, self-inspection data, IoT data and more.
During the policy lifecycle, documents are generated and saved directly in the system. Administrators are able to quickly retrieve these documents and the system allows all the necessary storage for your team to remain in one unified solution. The Policy Administration System is fully integrated with Claims Administration, Billing & Accounting, and Reporting & Analytics for managing all aspects in one system. The Insured Portal gives your policyholders easy access to their documents for better communication. Talk to us today about our web configurations for having your own white label quoting functions on your website.
Advance your business with the next generation of P&C insurance technology through WaterStreet Company.