Vertafore, a provider of software and services to the insurance industry, announced that Scottsdale Insurance Co., an excess and surplus (E&S) and specialty lines carriers, will license its Vertafore PolicyIssuance product. Web-based and built to ACORD XML standards, PolicyIssuance is designed for general agents to issue policies, virtually eliminating redundant keystrokes.
Scottsdale Insurance, a wholly owned subsidiary of Nationwide, says it selected PolicyIssuance to enable its general agents to have access to its policy forms library, receive real-time forms updates and gain improved efficiency by saving keystrokes.
PolicyIssuance shortens a general agent’s policy-issuance cycle time and limits errors and omissions (E&O) exposure by auto-filling data directly from their agency management system to the appropriate and current E&S carrier forms, Vertafore says. Data is extracted from the agency management system, and the software analyzes the data based on an underwriting rules engine. Once all the mandatory data is complete, the software automatically selects the required policy forms and pre-fills data into form sets, totally eliminating the re-keying of data.
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