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| CoverageMaster SM
CoverageMasterSM empowers corporations to handle their entire insurance policy and
risk management process in a single, integrated system, which includes both consulting services and supporting technological capabilities. Risk managers can now centralize all
of their insurance policies and supporting records and correspondence in a highly secure,
web-based work place.
A company's risk manager and authorized HR, legal, finance and operations personnel store, track,
update and report on information required to support coverage processes vital to the placement,
and management of their global insurance, such as:
- Exposure analysis
- Calculation of loss experience
- Management and tracking of the policy renewal cycle from the specification process through
final policy placement in an automated environment where coverage analysis, placement communications,
final resolutions and ancillary reports are all performed and aggregated for review and analysis
- Insurance certificate storage and tracking
- Claims notifications creation, tracking and reporting to underwriters and claims adjusters
- Global matter and case management system to support claims that are in litigation
This service supports both standard and ad hoc reporting capabilities enabling insurance professionals to:
- Calculate the erosion on deductibles or to the SIR on a per policy basis
- Analyze policies quickly for gaps in coverage
- Perform analysis of historical limits, premium and coverage's by carrier
- Collaborate with vendors, brokers, TPA's and claims adjusters in a highly secure environment
where risk managers coordinate and track all activities in a centralized location to:
- Finalize Specifications
- Prepare RFQs
- Review underwriter proposals
- Negotiate coverage terms and conditions
- Review and analyze binders and policies
CoverageMasterSM authorized insurance professionals can perform all insurance work on-line in a
seamless environment that includes all insurance information. Authorized insurance professionals
communicate and collaborate; set and track key dates and events and share insurance information
and records in the context of their individual work activities. Coverage work is also supported
by expert systems that automate:
- Insurance document analysis based on automated computational linguistic assessments of records
and documents
- Insurance policy analysis of coverage terms based on the automatic analysis of ISO, Accord,
and carrier specific forms
- Automated preparation and tracking of notices and correspondence with automatic filing features
to ensure a legal record is kept of all transactions
- Automated notifications and alerts of key deadlines and latencies in the resolution of open
policy issues affecting renewals
CoverageMasterSM also accommodates restricted access to brokers and underwriters to finalize
insurance specifications, review RFQs, submit insurance proposals, and negotiate final insurance
proposals and final terms and conditions of binders and policies.
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