Cover Holder Management from Singularity

Singularity’s Cover Holder Management Platform

Singularity can significantly improve the way Managing Agents work with their Cover Holders using its Cover Holder Management Platform. This highly customizable platform facilitates efficient, compliant and visible Cover Holder management.

Singularity’s Cover Holder Management Platform sets out the processes required to manage interactions with Cover Holders and implements these within a rule based framework. It enables both processes and underwriting rules to be independently administered by Managing Agent staff, typically, those with domain knowledge and delegated authority. Automation, exception management and renewal reminders all enable effective Cover Holder management that will also derive significant operational benefit to both Cover Holders and Syndicates.

Cover Holder Audit

With the advent of Solvency II, the entire industry must demonstrate better processes and evidence that these procedures are being followed. Whilst a Cover Holder is live, a Managing Agent can decide on a risk based approach the frequency to audit Cover Holders. The Singularity Process Platform will help you ensure audits are scheduled, non-compliances are recorded and that follow up items are progressed via proactive notification and alerts. The Singularity Cover Holder Management system provides a full audit history of all audits performs.

Highlights include:

• Business Control - greater control over what policies Cover Holders are writing.
• Visibility - an understanding of Cover Holder business on an on-going basis.
• Automation - lower cost through the automation of process steps and decision making.
• Claims Management – efficient processing, tracking and reporting for each client
• Business Rules - the ability to quickly and cost effectively change business policies across the organization.
• Efficiency - the removal of manual steps in day-to-day operational management of Cover Holder business.
• Standardization - application of best practice methods to ensure the best quality of service to Cover Holders through to the insured.
• Flexibility & Self Management (founded on BPM and Rules engines) - enabling Managing Agents to quickly change their system (without code changes) in response to regulatory, market or internal demands.
• Reporting & Dashboards - Key Performance Indicators ensure effective Performance Management both internally within the Managing Agent and externally in respect of Cover Holders.
• Standard Technology - out-of-the-box integration with Microsoft Office SharePoint Server, Exchange, Dynamics and SQL Server make adoption of the Singularity Managing Agent Platform a low risk technology and skills adoption proposition.
• Alerts and Exception Management - high priority events and SLA’s are responded to quickly, consistently and with the appropriate staff each and every time.

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