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Cedar Springs Technologies, Inc.
The Virtual Insurance Office is a comprehensive application system for personal lines property and
casualty insurance companies and MGA's. We have been using the technologies outlined on this site to
build the product. We intend to offer it using cloud computing technology as a pay-as-you-go service.
There will be a onetime set up fee and then ongoing usage fees on a transactional basis. The software
will be housed on servers at our site and accessed via web browser from the client site. The only
hardware required for the clients will be workstations with internet access and printers for those
documents that require hard copy. We feel this will be especially appealing to smaller companies that
want the functionality of a large integrated system that offers the services they need for their
customers and agents, but not the overhead costs typically associated with purchasing and maintaining
an in-house system. We also feel it may appeal to larger companies that have a system they are
satisfied with, but may have a small volume of niche business that might be more cost effective to
process with us than to consume their own valuable IT resources to build software to process it.
We would, of course, offer this product in the traditional mode of licensing to run at an insurance company or MGA, in-house, on their own hardware, if that is preferred.
Following are the features we have completed:
Electronic Documents and Paperless Processing
We have developed processes that creates electronic documents in all areas of the operation. This includes policy applications, first notice of loss, change requests, proof of insurance, and on demand reports. PDF's are generated for customers and agents. TIF's are generated for the content management and workflow system.
Overnight and batch processes have been built to capture all output, produce PDF's of reports for e-mailing and archive, and TIF's of policy documents, notices and invoices for the in-house workflow system.
We have integrated our printing and workflow processes with the ImageRight content management and workflow system from Vertafore. We have adapted our software to use the integration tools provided by ImageRight to seamlessly route output into the image repository and workflow, eliminating the need for scanning and manual indexing.
Quoting and Upload
We have developed web based policy quoting features for Homeowners and Dwelling Fire. The agent begins with a client search and then is presented with a quick quote page where rating information, basic coverages and common endorsements are entered and selected. At that point they can rate the quote and get a premium. The rating is tied back to the in-house rating engine so the agent and prospect are assured the premium quoted is exactly what will be charged for the policy. They may also continue on to a second screen for additional optional coverages when needed. A PDF quote summary is produced for the agent to print or e-mail. Should the agent decide to submit the quote, they are then prompted for all the additional policy information, such as lenders, additional insureds, and underwriting questions. Once submitted, an ACORD application is produced in PDF format for the agent, and TIF for the company. If the underwriter chooses to accept the quote, a policy is issued for the in-house system with no need for re-entry.
Policy Inquiry
We have developed a web based policy inquiry that can be viewed by agents and customers, as well as in-house personnel. All the policy information is available for viewing. Policy summary and ACORD Proof of Insurance PDF's can be produced on demand.
Claim Reporting
This is a web based feature that allows agents to enter claims and submit them to the company. An ACORD First Notice of Loss is created in a PDF for the agent and a TIF for the company workflow. A pending claim is automatically set up in the in-house claim system.
Agent Licensing
This is a web based feature that collects agent licensing and termination data and produces submissions to NIPR. Error processing and resubmissions are supported.
Property Valuations
We provide a web based link for obtaining property valuations through 360Value from Xactware. The tool can be accessed from the quoting feature for agents or from the web based policy inquiry feature. Data is passed to 360Value from our system and we create a PDF report for the valuation data that is returned. We also allow the user to link directly into the 360Value software, through a transparent login process, so they are able to enter additional property detail not captured in the quote or policy, in order to refine the valuation.
Property Inspections
We have developed an inspection ordering feature that will produce electronic orders to any inspection company that can receive them. We have a custom support feature that allows us to set up any number of companies. We can also receive the inspection reports from e-mail or FTP and route them into policy folders or workflow for review and archive.
The following are features we are current working on:
Direct Account Bill
The system will allow multiple polices to be billed under one account. The policies do not need to have the same effective and expiration dates. Payment options for new business and renewals are determined by user defined business rules, such as loss history, premium volume and credit score. Multiple billing plans with different payment options and rules may be set up.
A web based inquiry will also be included for access by in-house staff, agents and customers. Invoice and payment data will be available, including PDF's of bills.
Completion - 1st quarter 2011
Claims
This will be browser based for deployment to the internet or company intranet. Beside the usual transaction processing for reserves, loss payments, expenses and recoveries, we will be offering the ability to define events that may be added to the claim. These will be user defined with no limit on the number you set up. Events may be defined for law suits, subrogation proceedings, date changes, or any other type of action you may want to track. Each event will be logged with a date, any notes you want to attach, and any contacts you want to assign.
Completion - 2nd quarter 2011
The following are features we will be working on next:
Web based policy administration with roles and security
Personal lines automobile
We would, of course, offer this product in the traditional mode of licensing to run at an insurance company or MGA, in-house, on their own hardware, if that is preferred.
Following are the features we have completed:
Electronic Documents and Paperless Processing
We have developed processes that creates electronic documents in all areas of the operation. This includes policy applications, first notice of loss, change requests, proof of insurance, and on demand reports. PDF's are generated for customers and agents. TIF's are generated for the content management and workflow system.
Overnight and batch processes have been built to capture all output, produce PDF's of reports for e-mailing and archive, and TIF's of policy documents, notices and invoices for the in-house workflow system.
We have integrated our printing and workflow processes with the ImageRight content management and workflow system from Vertafore. We have adapted our software to use the integration tools provided by ImageRight to seamlessly route output into the image repository and workflow, eliminating the need for scanning and manual indexing.
Quoting and Upload
We have developed web based policy quoting features for Homeowners and Dwelling Fire. The agent begins with a client search and then is presented with a quick quote page where rating information, basic coverages and common endorsements are entered and selected. At that point they can rate the quote and get a premium. The rating is tied back to the in-house rating engine so the agent and prospect are assured the premium quoted is exactly what will be charged for the policy. They may also continue on to a second screen for additional optional coverages when needed. A PDF quote summary is produced for the agent to print or e-mail. Should the agent decide to submit the quote, they are then prompted for all the additional policy information, such as lenders, additional insureds, and underwriting questions. Once submitted, an ACORD application is produced in PDF format for the agent, and TIF for the company. If the underwriter chooses to accept the quote, a policy is issued for the in-house system with no need for re-entry.
Policy Inquiry
We have developed a web based policy inquiry that can be viewed by agents and customers, as well as in-house personnel. All the policy information is available for viewing. Policy summary and ACORD Proof of Insurance PDF's can be produced on demand.
Claim Reporting
This is a web based feature that allows agents to enter claims and submit them to the company. An ACORD First Notice of Loss is created in a PDF for the agent and a TIF for the company workflow. A pending claim is automatically set up in the in-house claim system.
Agent Licensing
This is a web based feature that collects agent licensing and termination data and produces submissions to NIPR. Error processing and resubmissions are supported.
Property Valuations
We provide a web based link for obtaining property valuations through 360Value from Xactware. The tool can be accessed from the quoting feature for agents or from the web based policy inquiry feature. Data is passed to 360Value from our system and we create a PDF report for the valuation data that is returned. We also allow the user to link directly into the 360Value software, through a transparent login process, so they are able to enter additional property detail not captured in the quote or policy, in order to refine the valuation.
Property Inspections
We have developed an inspection ordering feature that will produce electronic orders to any inspection company that can receive them. We have a custom support feature that allows us to set up any number of companies. We can also receive the inspection reports from e-mail or FTP and route them into policy folders or workflow for review and archive.
The following are features we are current working on:
Direct Account Bill
The system will allow multiple polices to be billed under one account. The policies do not need to have the same effective and expiration dates. Payment options for new business and renewals are determined by user defined business rules, such as loss history, premium volume and credit score. Multiple billing plans with different payment options and rules may be set up.
A web based inquiry will also be included for access by in-house staff, agents and customers. Invoice and payment data will be available, including PDF's of bills.
Completion - 1st quarter 2011
Claims
This will be browser based for deployment to the internet or company intranet. Beside the usual transaction processing for reserves, loss payments, expenses and recoveries, we will be offering the ability to define events that may be added to the claim. These will be user defined with no limit on the number you set up. Events may be defined for law suits, subrogation proceedings, date changes, or any other type of action you may want to track. Each event will be logged with a date, any notes you want to attach, and any contacts you want to assign.
Completion - 2nd quarter 2011
The following are features we will be working on next:
Web based policy administration with roles and security
Personal lines automobile
Current Projects
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Current Projects
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Virtual Insurance Office (VIO)
Although we are always involved with ongoing projects, we are eager to speak with you about your
needs. We have the personnel and the tools to undertake multiple projects and deliver them in a timely
fashion.