The American Association of Insurance Services (AAIS), an insurance advisory organization, and FJA-US Inc., a provider of insurance product software, have partnered to create an online platform for underwriting and rating policies.
The AAIS Underwriting Platform, “UP,” is a cloud-based rating engine and product module, said AAIS. The platform is based on FJA’s Product Machine, a platform for modeling, configuring, deploying, and distributing insurance products. UP will be first deployed to support the AAIS Commercial Output Program (COP), a program developed to insure property exposures of large commercial, industrial and institutional risks.
AAIS said benefits of the Underwriting Platform include the ability to input information from any location; the ability to upload location data for each risk; automatic listing of all forms; automatic flagging of gaps or errors; automatic provision of default limits; and the ability to download data for import into company systems, once a quote is complete.
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