INSURANCE COMPANY PRODUCTS
I-Company
I-Company is the complete company solution providing real-time data exchange and seamless connectivity between the BMS and carrier.
- Supports all major BMS vendors
- Communicates/integrates with the Company Policy Management and Accounting System (PMS)
- Full CSIO / ACORD capabilities
- Adheres to the IBAC Data Exchange (D/X) principles
- Over 400 API methods supporting insurance carriers, vendors and service companies
“I-Company provides a uniform interface between BMS vendors and the insurance carriers. The solution is able to handle the complexity of any data exchange integration requirements while providing a carrier with any complementary functionality to complete their real-time data exchange feature set."
Brad Powell, Director of Software ArchitectureEnables the broker to upload new business and policy change transactions to the carrier and receive back a real-time transaction issuance, a message that the upload is held for underwriter review, or messages indicating missing/invalid data.
- Provides data translation between broker and carrier
- Upload data and underwriter validation rules (either provided by I-Company on behalf of the carrier or the carrier itself)
- Capability for real-time issued policy transactions
- Capability for real-time generated electronic documents (e.g., dec page)
Provides direct quoting to the carrier or can offer manufactured quoting on behalf of the carrier. New business and policy change (endorsements and cancellations) quoting is supported. Both direct and manufactured rating provides the BMS with premiums, data validation messages, and underwriter rules messages.
- New business quoting
- Policy change quoting
- Renewal quoting
- Data and underwriting rule enforcement
Enables the carrier to better define its products within the BMS and make changes more quickly. By allowing the carrier to define product options and required data, Pre Call increases the likelihood of a successful quote and upload.
- Carrier defined product options (either provided by I-Company on behalf of the carrier or the carrier itself)
- Carrier defined required data per product (either provided by I-Company on behalf of the carrier or the carrier itself)
Synchronizes the data from the carrier with the data in the broker’s system for accurate policy change requests. Policy transactions can be downloaded broadly at the broker level or more narrowly at the policy level.
- Can download new business, policy change endorsements, renewals, cancellations, and reinstatements
- Downloaded transactions can include electronic documents (e.g., dec page)
Watch: Real-Time Policy Change using I-Company