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Pega Underwriting for Commercial Insurance PRODUCT OVERVIEW 7.31
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Page 1: Pega Underwriting for Commercial Insurance - Product Overview · 2019-05-22 · Pega Underwriting for Commercial Insurance - Product Overview 1 . The Pega Underwriting for Insurance

Pega Underwriting for Commercial Insurance

PRODUCT OVERVIEW 7.31

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© 2017 Pegasystems Inc., Cambridge, MA

All rights reserved.

Trademarks

For Pegasystems Inc. trademarks and registered trademarks, all rights reserved. All other trademarks or service marks are property of their respective holders.

For information about the third-party software that is delivered with the product, refer to the third-party license file on your installation media that is specific to your release.

Notices

This publication describes and/or represents products and services of Pegasystems Inc. It may contain trade secrets and proprietary information that are protected by various federal, state, and international laws, and distributed under licenses restricting their use, copying, modification, distribution, or transmittal in any form without prior written authorization of Pegasystems Inc.

This publication is current as of the date of publication only. Changes to the publication may be made from time to time at the discretion of Pegasystems Inc. This publication remains the property of Pegasystems Inc. and must be returned to it upon request. This publication does not imply any commitment to offer or deliver the products or services described herein.

This publication may include references to Pegasystems Inc. product features that have not been licensed by you or your company. If you have questions about whether a particular capability is included in your installation, please consult your Pegasystems Inc. services consultant.

Although Pegasystems Inc. strives for accuracy in its publications, any publication may contain inaccuracies or typographical errors, as well as technical inaccuracies. Pegasystems Inc. shall not be liable for technical or editorial errors or omissions contained herein. Pegasystems Inc. may make improvements and/or changes to the publication at any time without notice.

Any references in this publication to non-Pegasystems websites are provided for convenience only and do not serve as an endorsement of these websites. The materials at these websites are not part of the material for Pegasystems products, and use of those websites is at your own risk.

Information concerning non-Pegasystems products was obtained from the suppliers of those products, their publications, or other publicly available sources. Address questions about non-Pegasystems products to the suppliers of those products.

This publication may contain examples used in daily business operations that include the names of people, companies, products, and other third-party publications. Such examples are fictitious and any similarity to the names or other data used by an actual business enterprise or individual is coincidental.

This information is the property of:

Pegasystems Inc. One Rogers Street Cambridge, MA 02142-1209 USA Phone: (617) 374-9600 Fax: (617) 374-9620 www.pega.com

Pega Underwriting for Commercial Insurance

Document: Product Overview

Software Version: 7.31

Updated: November 2017

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CONTENTS

Product overview ................................................................................................ 1 Institutionalize best practices .......................................................................... 1 Simplify work to reduce costs .......................................................................... 1 Gain the power to change ............................................................................... 1

Commercial underwriting cases ........................................................................ 3 Standard commercial cases ............................................................................ 3

High-end functionality ........................................................................................ 4 End-to-end process ......................................................................................... 4 Underwriting case management ...................................................................... 4 Quote or proposal management ...................................................................... 4 Underwriting rules management ..................................................................... 4 Multinational submission ................................................................................. 4 Product configuration and management ......................................................... 4 Midterm Amendment ....................................................................................... 4 Excel upload .................................................................................................... 5 Direct email ..................................................................................................... 5 Bulk upload ...................................................................................................... 5 Underwriting notes .......................................................................................... 5 Predictive or adaptive analytics ....................................................................... 5 Underwriting authority management ............................................................... 5 Role based access and dashboards ............................................................... 5 Underwriter desktop ........................................................................................ 5 Submission creation ........................................................................................ 6 Product selection ............................................................................................. 6 Work assignment ............................................................................................. 6 Appetite management ..................................................................................... 6 360° view ......................................................................................................... 6 Clearance ........................................................................................................ 6 Underwriting guidelines ................................................................................... 6 Customer or producer management ............................................................... 6 Task management ........................................................................................... 6 Remarketing .................................................................................................... 7 Renewal management .................................................................................... 7 Reporting ......................................................................................................... 7 Insurance data model ...................................................................................... 7 Pega Cloud ...................................................................................................... 7 Knowledge Management ................................................................................. 7

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Terms and Conditions ..................................................................................... 7 Integration with Dunn & Bradstreet ................................................................. 7 Integration with Pitney Bowes ......................................................................... 8

Data model ........................................................................................................... 9 Commercial underwriting submission object model diagram ........................ 10 Commercial underwriting quote object model diagram ................................. 11 Commercial GL object model diagram .......................................................... 12 Commercial GL quote object diagram ........................................................... 13

Roles, portals, and dashboards ....................................................................... 14 Roles ............................................................................................................. 14 Portals ........................................................................................................... 14

Underwriter portal .................................................................................... 15 Account owner portal ............................................................................... 16

Sample screenshots ......................................................................................... 18 Submissions .................................................................................................. 18

Company profile ...................................................................................... 18 Eligibility questions and SIC wizard ......................................................... 18 Product selection ..................................................................................... 20 Add locations ........................................................................................... 20 Bulk upload .............................................................................................. 21 Quote ....................................................................................................... 22 Submission review .................................................................................. 24 Submission quality Spider Chart ............................................................. 25 PriceoMeter ............................................................................................. 26 Underwriter Adviser ................................................................................. 27 Terms and conditions .............................................................................. 27 Forms ...................................................................................................... 28 Adjust quote pricing ................................................................................. 28 Proposal email ......................................................................................... 29 Proposal document ................................................................................. 30 Midterm Amendment ............................................................................... 31

Email ............................................................................................................. 35 Create new email correspondence .......................................................... 35 Read reply email ..................................................................................... 36 Knowledge Management ......................................................................... 37 Integration with Pitney Bowes ................................................................. 39

Integration with Dun & Bradstreet ................................................................. 42

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Pega Underwriting for Commercial Insurance - Product Overview 1

The Pega Underwriting for Insurance application empowers commercial lines carriers to automate underwriting processes and eliminate manual work activities at an enterprise scale.

Dynamic case management guides underwriters, ensuring compliance and providing end-to-end visibility into all facets of the underwriting process. Insurers can review the status of submissions, quotes, and renewals in real-time, as well as pinpoint the need for additional work at any point in the lifecycle. This consolidated view of work-in-process also helps insurers manage, underwrite, and price risks with greater accuracy.

Pega delivers a truly reusable underwriting solution that simplifies and streamlines submissions, accommodates unique requirements by line of business, geography, or any other business factor, and delivers the agility needed to rapidly adapt business processes to changes in market and regulatory conditions.

Institutionalize best practices Ensure underwriting discipline across operations - Business-defined underwriting rules

and decisioning models apply relevant experience and best practices to optimize performance. Automated guidance provides assistance throughout the underwriting process, reduces training time and helps drive work to completion.

Optimize risk selection, pricing and portfolio management - Pega’s predictive and adaptive analytics enable insurers to execute data-driven strategies in line with profitability measures and long-term growth plans.

Simplify work to reduce costs Scale efficiently by improving underwriter productivity and collaboration - Pega’s

dynamic case management lets insurers automate underwriting processes and bridge operational and technical silos. You can leverage existing technology and eliminate redundancy with fast, easy, and secure integration to multiple enterprise and partner systems.

Streamline workflow and remove inappropriate manual steps - Pega’s combination of intelligent processes, dynamic rules, and seamless easy integration with legacy systems facilitate straight-through processing of low complexity submissions, automate key underwriting tasks, and ensure you meet the SLAs.

Drive underwriting to meet company strategic goals - Pega's predictive and adaptive analytics help underwriters align underwriting decisions with risk and profitability objectives.

Gain the power to change Ensure underwriting discipline across operations - Pega’s build-once and “reuse-

everywhere” capabilities allow insurers to embed underwriting in solutions leveraged by agents, call centers, and other channels, including social channels and mobile devices, without channel-specific coding.

Product overview

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Target market opportunities proactively - Pega’s flexible Build for Change® technology enables insurers to create reusable solutions components. You can deploy new products, underwriting rules, operational processes, and regulations with shorter delivery times, improved product quality, and lower development costs.

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Standard commercial cases The following table lists the standard cases available with the Commercial Underwriting application. Based on your company’s implementation, you may create additional or alternate business processes.

Case Description Commercial Property Submission

New business submission for monoline Commercial Property.

General Liability Submission New business submission for monoline Commercial Property. Commercial Auto Submission New business submission for monoline Commercial Auto. Commercial Package New business submission for package policies that contain more than one line of

business. ACORD Commercial submission

New business submission for package policies that contain more than one line of business where a completed ACORD eform is uploaded to enter the application data.

Loss Control Survey Sub-case to submission cases for loss control inspection surveys of locations on the application.

Workers Compensation Submission

New business submission for monoline Workers Compensation coverage.

Proposal Sub-case to submission cases where an Underwriter creates a proposal to the client for coverage as requested in the submission.

Renewal Case to review Renewals prior to issuance in accordance with company underwriting guidelines.

Mid Term Amendment Changes made to policies effective during the term of the policy that may or may not impact premium.

Commercial underwriting cases

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End-to-end process Pega’s Underwriting application empowers commercial lines carriers to automate underwriting processes and eliminate manual work at an enterprise scale. Pega delivers a reusable underwriting solution that simplifies and streamlines submissions, accommodates unique requirements by the line of business, geography, or any other business factor, and delivers the agility needed to rapidly adapt business processes to changes in market and regulatory conditions.

Underwriting case management Case management guides underwriters, ensures compliance and provides end-to-end visibility into all facets of the underwriting process. Insurers can review the status of submissions, loss control survey, quotes, and renewals in real-time, as well as pinpoint the need for additional work at any point in the lifecycle.

Quote or proposal management Underwriters can configure multiple quote options and proposals. Underwriter can distribute options for review using directed web access. Features a “Price-o-Meter” analytics example designed to guide underwriters to the right outcome by providing likely outcomes based on prior success.

Underwriting rules management Business users can update and manage underwriting rules within defined parameters. Select underwriting rules can be exposed and managed based on user profile.

Multinational submission Pega simplifies the management of large multinational risk submissions with an application that can intake and upload risk information, set up initial program structure and manage exposures or pricing at the individual country and program levels.

Product configuration and management Pega’s application includes the ability to rapidly define and reuse products directly within the system. User-friendly tools simplify complex product definitions and guide users through the configuration process to accelerate deployment of new products or product changes.

Midterm Amendment Ability to process policy changes that take effect during the policy term that may or may not impact premium. You can make policy and coverage changes in addition to Cancellations, Cancel or Rewrite and Reinstatement.

High-end functionality

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Excel upload Ability to upload multiple Excel files directly within the system and dynamically map headers to required data within the system.

Direct email Internal operators can correspond with external parties via email directly from Pega Underwriting for Insurance, creating new email correspondence. You can add documents from the submission or from your hard drive. You can receive the replies directly in Pega Underwriting for Insurance and attached to the case creating an assignment for the recipient on the case.

Bulk upload Ability to upload large set of data through spreadsheets into the submission to support risk assessment and policy generation.

Underwriting notes Notes are an important capability that enables underwriters to track the work-related comments and updates provided by users across the submission cycle. All the notes entered by users are available at the submission level including the notes entered in a proposal sub case. Users can add notes by category to the submission or proposal at any time during the submission process.

Predictive or adaptive analytics Underwriting analytics examples deployed directly within the underwriting process, including PriceoMeter, Underwriting adviser and quality Spider chart which is a visual report for the submission and quote attributes.

Underwriting authority management Cascading review, management and approval process when underwriters exceed limits of authority. You can review and respond to approvals via email, as well as assignments within a case.

Role based access and dashboards Pre-built roles and dashboards for Account Managers, Underwriting Assistants, Underwriters and Underwriting Managers.

Underwriter desktop Pega’s application provides a single, unified, familiar interface for Underwriters integrated within your existing underwriting ecosystem. The application allows for Underwriters to modify coverages and limits, adjust endorsements and exclusions, perform schedule rating, and so on.

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Submission creation You can create submissions either manually or automatically through the upload of an application.

Product selection Pega can automatically select or display eligible product options for the user to select the appropriate for submissions based on effective dates, lines of business, jurisdictions, or other configured parameters.

Work assignment Multiple assignment models are available. For example, you can configure assignments along dimensions such as Territory, Producer, Product Line, Authority, Underwriter Experience and/or Underwriter availability.

Appetite management Business rules calculate and present risk appetite based on industry classifications allowing for routing rules.

360° view Maintains a complete view and visibility into account, producer and submission as part of the evaluation process.

Clearance Automated clearance check automatically launches a clearance review workflow to appropriate parties.

Underwriting guidelines You can configure and automate underwriting checklists, rules and questions as a part of the underwriting case.

Customer or producer management Pre-defined customer or producer search and side-by-side customer compare.

Task management Users have the opportunity to define and create manual tasks. These tasks are automatically linked to the underwriting case.

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Remarketing Mark rejected proposals on new submissions to automatically create a new Remarket case prior to expiration. This allows competing again to win business.

Renewal management You can configure the included renewal process based on the appropriate expiration dates.

Reporting Pega Underwriting for Insurance includes a wide variety of standard reports, graphs, and reporting tools to provide real-time information and analysis of processes, work, assignments, and historical data of quote and policy transactions over time.

Insurance data model Extensive library of insurance components, common objects, and data models based on industry standards.

Pega Cloud Pega’s scaled, tiered environment supports the licensed Pega platform, applications and transactional use cases for customer configured Pega solutions.

Knowledge Management Knowledge Management feature enables access to insightful and guiding articles for underwriting users. Content can be contextually suggested in work flows, providing useful content when and where a user needs it. The authoring portal, or Knowledge Management Portal, provides intuitive content authoring and management tools to effectively manage the full lifecycle of content.

Terms and Conditions Ability to define standard Terms and Conditions and then reuse them when creating quotes.

Integration with Dunn & Bradstreet Pega Underwriting for Insurance now supports integration with Hoover's Dun & Bradstreet Direct 2.0 Data Component. With this integration, you can configure Pega Underwriting for Commercial Insurance to receive customer data from Dun & Bradstreet, and then create a customer record by using the data returned from the service.

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Integration with Pitney Bowes Pitney Bowes integration with Pega Underwriting for Insurance enables to fetch information about commercial property, including address, number of buildings, stories, and apartments, condition, construction type, exterior finish, assessed value, year built, and square footage risk factors for a commercial location, including data about crime, earthquakes, floods, fires, proximity to fire stations, and distance to the coast.

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Pega Underwriting for Insurance provides common data objects to manage submission data. Some of the object types, such as Policy and Contract expect an external system of record to source data.

The following matrix provides the key objects used in the Underwriting application and their respective Data Classes.

Object Class Description Insurance Policy PegaIns-Data-InsurancePolicy Represents a general insurance policy. It is

specialized by its LOB specific subclasses. Customer PegaIns-Data-Customer Contains data pertaining to the Applicant. Quote PegaIns-Data-Quote Pertains data pertaining to the quotes associated

to the Application. Submission PegaIns-Data-Submission Contains data pertaining to a Submission. Policy Components PegaIns-Data-PolCmp- Contains data pertaining to the Policy

components for all LOBs. Premium Billing PegaIns-Data-PremiumBilling Contains data pertaining to the billing related

information. Line of Business PegaIns-Data-Line Contains LOB related details. Discount Code PegaIns-Data-DiscountCode Contains discount codes used in commercial

submission. Hazard Code PegaIns-Data-HazardCodes Contains hazard codes used in commercial

submission. Surcharge Code PegaIns-Data-SurchargeCode Contains surcharge codes used in commercial

submission pricing. Agency PegaIns-Data-Party-Org-Agency Contains data about the insurance agency. Agent PegaIns-Data-Party-Person-Agent Contains data about the insurance agent. Coverage Rule-InsProd-Coverage Contains data on the coverage that is used to

make up a product. Coverage Component PegaIns-Data-PolCmp-

CoverageComponent Contains data on the limits or deductibles of a coverage.

Covered Risk Rule-InsProd-Risk Contains data on the risks covered by products.

Note: For detailed information about objects used in the Underwriting application and their respective Data Classes see the Pega Underwriting for Commercial Insurance 7.31 User Guide on the product page.

Data model

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Commercial underwriting submission object model diagram

-PegaIns-PAB-PC-CL-Work-Submission-Property

Commercial Property Submission

-PegaIns-Data-Party-Person-Agent

AgentData

-PegaIns-Data-Party-Org-Agency

AgencyData -Agency

0..1

-Submission

1

-PegaIns-Data-Address

AddressInfo

-Agency1-Addresses0..*

-Agent 0..1-Submission

1

-Agent1

-Addresses

0..*

-PegaIns-Data-Application-Comm-Property

ApplicationPage

-Submission1

-Application1

-PegaIns-Data-InsurancePolicy-Commercial-Property

PolicyData

-PegaIns-Data-Quote

Quotes

-PegaIns-Data-Customer

Customer

-Data-Party-Operator-PegaIns-Data-Party-Person-PegaIns-Data-Party-Person-Agent-PegaIns-Data-Party-Org-Company-PegaIns-Data-Party-Org-Agency

pyWorkParty

-PegaIns-Data-Line

LOBDetails

-Application 1

-LOB

1

-Application

1

-Parties1..*

-Application

1

-Customer1

-Application

1

-PolicyProperties0..*

-PegaIns-Data-Party-Org-Company

CustomerInfo

-Pega-Data-Address

ListOfAddress

-Customer1

-CustomerInfo1

-Customer1

-Addresses1..*

-PegaIns-Data-PolComp-Insured-CommercialPropertyLocation

PropertyLocation

-Property1

-Locations0..*

-Pega-Data-Address

AddressInfo

-Customer1

-Primary Address1

-Application*

-Quotes

*

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Commercial underwriting quote object model diagram

-PegaIns-Data-InsurancePolicy-Commercial-Property

PolicyData

-PegaIns-Data-PolCmp-CoverageComponent

CommCoverages

-PegaIns-Data-PolCmp-Deductible

Deductible

-PegaIns-Data-PolCmp-Limit

Limits

-Embed-InsProd-LimitValues

AllowableValues

-Policy

1

-Coverages0..*

-Coverage1

-Deductible1

-Coverage1

-Limits

0..*

-Limit1

-Allowable Values1..*

-PegaIns-Data-PolCmp-CoverageComponent

Endorsements

-Policy1

-Endorsements0..*

-Embed-InsProd-Form

Forms

-PegaIns-Data-PolCmp-Limit

Limits

-Endorsement

1

-Forms0..*

-Endorsement1

-Limits0..*

-Policy1

-Locations0..*

-PegaIns-Data-PolCmp-InsuredCommercialPropertyLocation

PropertyLocation

-PegaIns-Data-PolCmp-CoverageComponent

SelectedCommCoverages

-PegaIns-Data-PolCmp-Deductible

Deductible

-PegaIns-Data-PolCmp-Limit

Liimits

-Coverage1

-Limits0..*

-Coverage1

-Deductible1

-Embed-InsProd-Limit-Values

AllowableValues-Limit

1

-Values

1..*

-PegaIns-Data-ManualPremiumAdjustment

ManualAdjustment

-Adjustment1

-Policy

1 -PegaIns-Data-PremiumBilling

PremiumBilling

-Billing1-Policy

1-Embed-InsProd-Form

Forms

-Policy

1

-Forms

0..*

-PegaIns-Data-Quote

Quotes

-Quotes1..*

-Policy1

-PegaIns-Data-Quote

SelectedQuote-Quotes

1..*

-ActiveQuote

1

-PegaIns-Data-Address

AddressInfo

-Property1

-Address1

- PegaIns-Data-PolCmp-InsuredBusinessBuilding

BuildingInfo

-Location1

-Buildings0..*

-Quote*

-Selected Coverages*

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Commercial GL object model diagram

-PegaIns-PAB-PC-CL-Work-Submission-GL

Commercial Property Submission

-PegaIns-Data-Party-Person-Agent

AgentData

-PegaIns-Data-Party-Org-Agency

AgencyData -Agency

0..1

-Submission

1

-PegaIns-Data-Address

AddressInfo

-Agency1-Addresses0..*

-Agent 0..1-Submission

1

-Agent1

-Addresses

0..*

-PegaIns-Data-Application-Comm-GL

ApplicationPage

-Submission1

-Application1

-PegaIns-Data-InsurancePolicy-Commercial-GL

PolicyData

-PegaIns-Data-Quote

Quotes

-PegaIns-Data-Customer

Customer

-Data-Party-Operator-PegaIns-Data-Party-Person-PegaIns-Data-Party-Person-Agent-PegaIns-Data-Party-Org-Company-PegaIns-Data-Party-Org-Agency

pyWorkParty

-PegaIns-Data-Line

LOBDetails

-Application 1

-LOB

1

-Application

1

-Parties1..*

-Application

1

-Customer

1

-Application

1

-PolicyProperties0..*

-PegaIns-Data-Party-Org-Company

CustomerInfo

-Pega-Data-Address

ListOfAddress

-Customer1

-CustomerInfo1

-Customer1

-Addresses1..*

-PegaIns-Data-PolComp-Insured-CommercialPropertyLocation

PropertyLocation

-Property

1

-Locations0..*

-Pega-Data-Address

AddressInfo

-Customer1

-Primary Address1

-Application*

-Quotes

*

-PegaIns-Data-Submission-Com

SubmissionData

-Application1

-Submission1

-PegaIns-Data-Underwriting

AppetiteData -Appetite

1

-Submission

1

-PegaIns-Data-PriorCarrier

PriorCarrier -PriorCarriers

0..*

-Submission

1

-PegaIns-Data-PriorClaim

PriorClaims -PriorClaims

0..*

-Submission 1

-PegaIns-Data-PolCmp-InsuredCommercialPropertyLocation

PropertyLocation

-Submission1

-PropertyLocations0..*

-PegaIns-Data-SICCode

SICDetails

-Submission1

-SICDetail1

-PegaIns-Data-HazardCodes

ScheduleofHazards

-Policy1

-Hazards0..*

-PegaIns-Data-PolCmp-EmployeeBenefits

EmployeeBenefits

-Policy

1

-Benefit1

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Commercial GL quote object diagram

-PegaIns-Data-InsurancePolicy-Commercial-GL

PolicyData

-PegaIns-Data-PolCmp-CoverageComponent

CommCoverages

-PegaIns-Data-PolCmp-Deductible

Deductible

-PegaIns-Data-PolCmp-Limit

Limits

-Embed-InsProd-LimitValues

AllowableValues

-Policy

1

-Coverages0..*

-Coverage1

-Deductible

1

-Coverage1

-Limits

0..*

-Limit1

-Allowable Values1..*

-PegaIns-Data-PolCmp-CoverageComponent

Endorsements

-Policy1

-Endorsements0..*

-Policy1

-Locations0..*

-PegaIns-Data-PolCmp-InsuredCommercialPropertyLocation

PropertyLocation

-PegaIns-Data-PolCmp-CoverageComponent

SelectedCommCoverages

-PegaIns-Data-PolCmp-Deductible

Deductible

-PegaIns-Data-PolCmp-Limit

Liimits

-Coverage1

-Limits0..*

-Coverage1

-Deductible1

-PegaIns-Data-ManualPremiumAdjustment

ManualAdjustment

-Adjustment1

-Policy

1 -PegaIns-Data-PremiumBilling

PremiumBilling

-Billing1-Policy

1-Embed-InsProd-Form

Forms

-Policy

1

-Forms

0..*

-PegaIns-Data-Quote

Quotes

-Quotes1..*

-Policy1

-PegaIns-Data-Quote

SelectedQuote-Quotes

1..*

-ActiveQuote

1

-PegaIns-Data-Address

AddressInfo

-Property1

-Address1- PegaIns-Data-PolCmp-InsuredBusinessBuilding

BuildingInfo

-Location1

-Buildings0..*

-Quote*

-Selected Coverages*

-PegaIns-Data-HazardCodes

ScheduleofHazards

-Policy1

-Hazards0..*

-PegaIns-Data-PolCmp-EmployeeBenefit

EmployeeBenefits

-Coverage1

-Benefit1

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Roles Pega Underwriting for Insurance supports key roles in the insurance sales process.

The following table describes each of the roles shipped with the Commercial Underwriting application and their default portal.

Role Description Default Portal Underwriting Assistant Each Underwriter is matched up to an Underwriting Assistant that

reviews submissions for completeness prior to presentation to the Underwriter. The UA also prepares binders for issuance.

Underwriter Portal

Underwriter Underwriters do the heavy lifting of reviewing submissions and preparing proposals.

Underwriter Portal

Underwriting Manager Supervisors of Underwriters that may be required to approve proposals based on Underwriters' Letters of Authority.

Underwriter Portal

Account Owner The Account Owner is responsible for specific customer accounts assigned based on the Agency or Broker of a submission. The Account Owner is ultimately responsible for the sale.

Account Owner Portal

Portals Pega Underwriting for Insurance has four pre-configured portals available to users:

Underwriter portal

Account Owner portal

The users can customize all the portals. The following subsections describe the sample features provided for each portal:

Roles, portals, and dashboards

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Underwriter portal The Underwriter portal is designed for users in the underwriting team who review, order loss surveys, correspond with the agent, price quotes, create proposals, issue policies and process midterm amendments.

Key Features:

Dashboard

My worklist

My submissions

Reports

Customer management

Application configuration

Manage (Underwriting Managers Only)

Recents

Following

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Account owner portal The Account owner portal is designed for users within the carrier who market with the agent and oversee the proposal process. The Account owner generally does not perform the underwriting processes.

Key Features:

Dashboard

My worklist

My accounts

Reports

Customer management

Recents

Following

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Submissions Company profile The purpose of this stage is to collect and identify the company and agency applying for coverage and make sure a record for them does not already exist in the system. A repeating list of matching businesses is returned from the search that includes the Business name, Tax ID, Address and Phone number.

The first screen in the flow is Find customer and agency.

Eligibility questions and SIC wizard Standard eligibility questions will be created to be included in SIC determination step (right after selecting the customer) and answers to those questions will be used to identify the matching product(s).

Sample screenshots

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Enter the SIC code or click the magnifier icon to view the Find SIC code tool. Each drop-down selection field, except for Division, is filtered based on the selection in the previous field. Once all fields are entered, the system returns the appropriate SIC code for the corresponding selections. If the customer carrier stores SIC information with existing accounts, this could be pre-loaded or it might no longer be required if the account was issued a policy previously.

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Product selection If the customer is eligible for more than one product, then the user will be able to select from the list of products.

Add locations If no locations exist, the system will creates a location with the address of the customer from the Applicant Identification stage when Add location is selected for the first time. If a location already exists, a blank location screen is presented. At least one location is required.

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Bulk upload The user has the option to upload a spreadsheet of locations rather than type them in manually. Select the Upload radio button to view the upload screen. This upload format is also used for other scheduled data to ease entry, such as Loss History, Employees, Drivers and Vehicles.

Enter the row number for the header row in the file to be uploaded and click Upload Excel file to attach the file to be uploaded. Choose the file to upload.

Once the file has been attached, the Column mapping fields will display the designated headers in the dropdown of each of the fields to be mapped. If there are any existing locations when the file is uploaded, the user will be presented with a new section to indicate if the upload should append or replace the existing data.

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Quote The Quotes screen allows the user to create multiple coverage quotes for a tabbed comparison of options for each individual LOB, rename the quote and delete quotes through the Actions menu

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To manage policy endorsements click the Add/remove endorsements button.

Select the Risks tab to manage the risk level Coverages and Endorsements

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Submission review The following screen presents the underwriter with a submission summary view to help them quickly assess and understand the risk being presented:

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Submission quality Spider Chart Clicking the Analyze link opens the Analyze submission quality Spider Chart which is a configurable chart or submission actual vs. target attribute values.

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PriceoMeter PriceoMeter offers the underwriter information related to pricing adjustment and advice on the probability of the customer accepting the offered quote at the adjusted premium.

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Underwriter Adviser Underwriter Adviser helps in providing Underwriters with important analytical information regarding the submission.

Terms and conditions An underwriter can attach, either existing from the Add from library link or free-form quote-specific free-form terms and conditions that remain with each individual quote and are presented to the customer in the proposal.

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Forms To view the list of forms that currently make up a quote, click on View forms. You can sort and filter on any of the columns.

Adjust quote pricing To modify the quote pricing with quote adjustment factors select Adjust quote from the Proposal quote Actions menu.

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The Adjust quote screen displays Schedule rating and Manual rating tab in which the underwriter can apply the premium adjustment factors either up or down.

Proposal email When the proposal has been reviewed, accepted by the account owner and submitted the system automatically generates a proposal email to the agent.

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Proposal document The proposal email contains the formal proposal to the customer.

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Midterm Amendment The Midterm Amendment (MTA) enables the user to add, modify and delete policy information with Pega Underwriting for Insurance. In addition to these changes, MTA also enables policy cancellation, reinstatement and rewriting.

Policy selection

The MTA case can be created in two ways, manually or automatically from an incoming email to a special email address. To create the case manually select Midterm Amendment.

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Alternatively, brokers can send an email request to an email account that receives the request and creates an MTA work object in a workbasket for an internal user to process. The Pega-provided Pega Underwriting for Insurance utilizes an email listener – [email protected].

After receiving the email, an MTA case is created and assigned to the Commercial MTA Request workbasket. The email subject line becomes the MTA case Description. The underwriter is then able to select the MTA Effective date and Customer or Policy number.

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Policy level data

Once the policy is selected, the case copies the location and company details information from the Account Data stage of the policy’s submission flow.

Coverages

Here you can make changes to policy level coverages. This step mimics the Application stage of the new submission.

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Confirmation

The first step of the review changes stage is confirm MTA changes. The Review changes screen lists the changes made to the policy and the date of the change, such as modifying locations or modifying coverage, along with the total corresponding term premium change and prorated premium change. The confirmation screen allows you to check that you have completed all the requested changes. The summary change indicates Added, Modified, Deleted specific policy level coverages and/or endorsements, Risks, risk level coverages and/or endorsements. There is a total pro-rated policy premium change (+/-) included in the MTA summary screen.

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Email Create new email correspondence Underwriting assistants can send an email to get the information about missing data from the Actions menu using an action called Create email.

The underwriter may create an email Create email records

Within the Create email screen the user may select email recipients from the submission case or manually enter an email address. The may then enter the email subject and body text.

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Attachments associated with the submission or located on the user’s hard drive may also be attached.

Read reply email When the recipient returns the email it is automatically attached to the submission and creates an email received assignment to alert the underwriter or its return.

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Knowledge Management Pega Underwriting for Insurance now uses Pega Knowledge rulesets to integrate knowledge content into the application. Knowledge sharing features in the application provide the following benefits:

You can search knowledge content from within the application and share the content with other members of your team.

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You can access the Suggested articles widget from a Submission case in the Underwriting stage or a Proposal case in any stage. The widget displays articles related to the case type that you are processing.

You can create operators to author, approve, and publish knowledge content to provide content tailored to your underwriting cases and processes.

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Integration with Pitney Bowes

Pega Underwriting for Insurance now supports integration with Pitney Bowes’ GeoProperty and GeoRisk web services. With this integration, you can configure Pega Underwriting for Commercial Insurance to receive property information and risk data for Commercial Property and General Liability submissions.

The GeoProperty web service provides information about a commercial property, including address, number of buildings, stories, and apartments, condition, construction type, exterior finish, assessed value, year built, and square footage.

The GeoRisk web service provides information about risk factors for a commercial location, including data about crime, earthquakes, floods, fires, proximity to fire stations, and distance to the coast.

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Integration with Dun & Bradstreet Pega Underwriting for Insurance now supports integration with Hoover's Dun & Bradstreet Direct 2.0 Data Component. With this integration, you can configure Pega Underwriting for Commercial Insurance to receive customer data from Dun & Bradstreet, and then create a customer record by using the data returned from the service.


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