Insurity Upgrades Policy Processing System Functionality

April 21, 2003

Insurity Inc., a ChoicePoint® company, announced the latest enhancement to its policy processing platform.

The new Commercial Intellisys® – Underwriting Forms program facilitates “virtual” electronic management of all company-specific and industry-standard forms used to support a wide variety of functions in a Property & Casualty insurance operation. It was designed to address the common business problem within underwriting departments of costly and manually intensive forms management, particularly in the areas of preparation, transmission, utilization, and retention. Insurity’s ( Product Development team has engineered its underwriting forms application to be run as a fully integrated component of the Commercial Intellisys platform, or as a stand-alone application that utilizes supporting data sources unique to the carrier’s operation.

Forms that are supported include policy applications, underwriting & pricing documents, regulatory paperwork and other relevant internal and external communication forms. Wherever possible during the forms preparation process, necessary data is obtained from the carrier’s files and the Commercial Intellisys software in order to pre-fill predetermined fields on the forms. The program is under the complete control of the customer and forms can be created with a wide variety of document software and fields that are tagged using Adobe Acrobat. To help ensure the most efficient adoption of this feature internally, a number of behavioral properties can be established for how end users will be able to use each form. All applicable forms are stored in a central database library, and can be made instantly available to remote users via the Internet.

The Commercial Intellisys platform provides commercial Property & Casualty policy rating, issuance and statistical coding for all lines of business in all 50 states, and supports the billing, claims and reinsurance functions for those same lines. The system supports a wide array of compliance and management reporting needs, including NAII, USR, WCPOLS/PICS, ICR, DMV and other bureaus.

The system also provides MVRs, credit scores, telephone verification, and/or on-site surveys; logical information-ordering that allows underwriters to review initial information before requesting additional verification; and reference materials that provide information such as city-file features, NCCI manuals, NAIC codes, address verifications, and SICs.

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