Key to the new business was the ability to turn around quotations and policy documentation quickly and accurately. In order to achieve this, Chase rewrote its core underwriting functionality using a flexible, webbased solution.
Not for the first time, Chase has delivered a solution to the P&I market that simplifies and controls the entire policy administration process from initial enquiry to binding the risk with automated processes to e-mail invoices and policy certificates.
Says Ben Shellie, CEO of Chase ITS “Unfortunately there are too many failed IT projects in this niche segment of the insurance industry – this is simply due to the relatively small number of IT professionals who understand the fundamental attributes of a P&I transaction. Our specialist domain knowledge meant that our clients could be confident that we already had a thorough understanding of their business requirements – this allowed both parties, from day one, to concentrate on processes that would (i) improve the speed of responses; (ii) apply quality control check points to ensure consistency with the underwriting.”
Business can now be bound quickly in a process that considerably reduces back-office processing time. Underwriters can quote for new business with the knowledge that once the quoted terms are accepted, the process for producing policy documentation requires little to no further data input.
‘Service is what Carina is about and the new IT system developed by Chase supports our business in exactly those areas where it is needed.’
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