A policy administration application for Medical Stop Loss and Group Term Life lines of business, maintaining all rates and terms for premium and claims administration and policy issuance.
Policy Administration is a repository of all policy terms including rates and terms integrated with Premium and Claims Administration.
Track and follow-up on outstanding requirements for policy issuance.
Issue application and policy documents through a Microsoft® Word interface.
Maintain a Journal of policy notes and attachments, including scanned documents, for use and viewing in all other integrated applications.
Policy Administration understands insurance terms like contract types and number of months in contract, including their effect on incurred and paid dates, annualized premium, and the aggregate attachment point. Contracts integrates with Treaties to default acquisition expenses, standard maximum reimbursements, and excess layers.
Medical Stop Loss
Maintain policy terms and rates on all stop loss coverage types including: Specific, Specific Terminal Extension, Specific Excess Layers, Aggregate, Aggregate Accommodation, Aggregate Terminal Extension, Aggregate Excess Layers, and Medical Conversion.
Compete policy terms including:
- Acquisition expenses, including commissions, carrier fee, premium tax, and sub-producer fees.
- Lasered Individuals and Disclosure information.
- Benefit Plan, PPO Networks, Utilization Review Vendors.
Define multiple Schedules for different rates and terms, including stop loss deductibles, by date or entity on the same contract year.
Query policies by treaty, carrier, producer, administrator, underwriter, effective dates, premium, and more for complete control of the policies viewed or reported.
Report on bound business bordereaux, policy summaries, In-force to manual reports, policy term reports, outstanding requirements, and other reports.
Group Term Life
Maintain policy terms and rates on all group term life coverage types including: Basic Life, AD&D, Dependent Life, and Supplemental Life.
Complete policy terms for acquisition expenses, including commissions, carrier fee, premium tax, and sub-producer fees.
Collect terms on an unlimited number of Life class schedules for each policy.
Query policies by treaty, carrier, producer, administrator, underwriter, effective dates, premium, etc. for complete control of the policies viewed or reported.
Report on bound business bordereaux, policy summaries, outstanding requirements, and other reports.