LexisNexis Risk Solutions said that Sompo Japan Insurance of America (SJA) has upgraded its policy administration system with its policy decisions commercial, which helps SJA pursue small business accounts effectively, enhance efficiency of its workforce and take advantage of new technologies.
According to LexisNexis, policy decisions commercial is a web-based policy administration system that enables commercial lines carriers to lower expenses, enhance customer service and increase revenue. It provides its users with a fully automated and extensible application that reduces policy maintenance time while enhancing agent experience and speed to market. In addition, the system integrates with a company’s backend data storage.
SJA has upgraded to new version of policy administration system due to several reasons, which include the new policy is built on .Net platform; the solution’s design and navigation features simplify workflow; and enhancements such as a quote proposal tool, underwriting tools to establish and automate processes, and ability to access information.
Policy decisions commercial automates rating and issuance support for all commercial lines of business and numerous proprietary lines. It also features full policy lifecycle transaction support, full maintenance of ISO and customer-specific rates, forms and rule changes, while delivering enhanced underwriting decision-making with point-of-sale application data-capture, third-party data integration, scoring, and referral management.
Clark Jackson, executive of SJA, said: “When we looked at which solution could best meet our needs in multiple states and lines of business, as well as which company had the right experience and systems, upgrading with Policy Decisions Commercial and continuing our relationship with LexisNexis Risk Solutions was an easy decision.”