BrovadaOne

BrovadaOne Connectivity

For brokers, BrovadaOne Connectivity, Willis Towers Watson’s broker/insurer integration product, simplifies the way you do business by extending the functionality of your broker management system so that it integrates with insurer portals and web services for both new business and policy-change uploads. This eliminates the need to re-key the data already captured in your management system.

BrovadaOne:

• Is currently installed in more than 1,400 brokerages and over 50 different insurance companies, and handles over 80% of the real-time traffic between brokers and insurers in Canada
• Automates the workflow and entry of data into a multitude of carrier systems, saving time while improving efficiency and accuracy
• Offers transactions that include:
• Single sign on — Sign on one time to all systems to accomplish multiple tasks. You can manage passwords and security individually or assign a local administrator. Any insurer’s website, portal or secured system area can be made accessible to you.
• Portal automation — Connects your management system to insurer portals, eliminating the need to re-key inputted data. It works for commercial and personal lines. Automated transactions for policy inquiry, new business upload and submission and policy changes help ensure you make a change once and both your management system and the insurer are current. Same day policy issuance is possible.
• New business submissions — Automates new business submissions to insurers, reducing processing time and increasing accuracy. It also provides real-time rating and submission confirmation and includes dynamic, new business-specific workflows, forms and data pre-validations. Additionally, It provides real-time new-business submissions directly to an insurer’s policy administration system or through its portal and makes your management system the system of record.
• Policy change — Extends real-time policy change capabilities from insurers to you cost-effectively, simply and quickly. It works with your broker management system by comparing your newly changed data against the data already stored in the insurer’s policy system to confirm the change prior to submission, minimizing the risk of inadvertently overwriting valid insurer data.
• First notice of loss (FNOL) — Enables you to submit FNOL transactions in real-time directly to an insurer’s claims system, expediting the process of making a claim.
• Third-party integration — Lets you access service providers like motor vehicle records, autoplus, property inspection and evaluation companies, premium financing companies, loss reporting agencies and more. Its service provider integration enables you to access these services from your desktop, streamlining data transmissions to help ensure accuracy, integrity and standards.
• Book of business rollover — Analyzes and profiles your book intelligently and automates the transfer, whether rolling a book of business within the brokerage or broker to insurer.

BrovadaOne for Insurers

BrovadaOne for Insurers enables you to provide real-time connectivity to brokers using any policy administration system (PAS), regardless of whether you already use a portal.

BrovadaOne’s web-service interface for real-time transactions — endorsements, upload and download, new-business submissions, inquiries, policy changes, first notices of loss, portfolio transfers, regulatory reporting and more — provides an alternative to conventional portals with numerous advantageous capabilities.

Additional benefits for insurers include:

• New business submissions — Automates the submission process and dramatically reduces processing time. It helps ensure submissions are complete and accurate; provides real-time rating and submission confirmation; includes dynamic, new-business-specific workflows, forms and data pre-validations; and helps ensure scalable integration to your new or legacy PAS.
• Inquiries — Makes a secure, real-time snapshot of the policy, billing and claim data in your PAS possible.
• Policy changes — Enables cost-effective, simple and quick,  real-time policy change capabilities to your broker distribution channels. Newly changed broker data can be compared against data in your policy system, e brokers to confirm the change prior to submission and minimizing the risk of inadvertently overwriting valid data in your system. The transaction incorporates an exception-based underwriting workflow, keeps consistent records of every policy change, includes dynamic messaging, leverages existing rating and rules engines and reduces overall transaction time to 10 seconds. The innovative comparison between insurer and broker data preserves the system of record, minimizes errors and omissions, enables multiple changes per transaction and issues a single invoice per transaction.
• FNOL — Enables brokers to submit FNOL transactions in real time, directly to your claim system, expediting the claims process and reducing claim adjustment handling times.
• Portals — Helps ensure streamlined underwriting workflows, advanced exception management and minimal navigation. From quoting to renewal reviews, BrovadaOne enables brokers to interact with you throughout the policy life cycle. It fully supports custom workflows and has the capability to apply data transformations, underwriting rules/rating logic and dynamic interaction with all common third-party services. Based on the specific workflow, BrovadaOne integrates directly with your PAS to complete the transaction.
• Book of business rollover — Digital analysis of your book of business with an automated transfer, whether rolling it over intra-insurer, broker to insurer or facilitating an internal audit of your own book.
• Electronic data interchange EDI and eDocs download — Improves your ability to download data directly to your brokers. Our EDI management system includes a CSIO certified eDoc delivery system, providing timely and efficient delivery of policy data and PDF or HTML files. BrovadaOne download transactions are initiated in your policy system, notifying brokers to ensure policies are identical in both systems. Additionally, BrovadaOne download data is transmitted using the most recent Center for Study of Insurance (CSIO) standards.
• Third-party integration — BrovadaOne lets you access service providers like MVRS and Autoplus, property inspection and evaluation companies, premium financing companies, loss reporting agencies, credit scoring agencies and more. Its service provider integration enables you to access these services from your desktop; streamline data transmissions to ensure accuracy, integrity and standards; integrate BrovadaOne for insurers to streamline your underwriting processes; and integrate business rules, data validation, policy numbers, effective/expiration dates, user details and more.
• Conversions — Whether you’re migrating data from an old system to a new one or integrating third-party data sources, BrovadaOne excels as an ETL platform, cleansing, augmenting and transforming data at the time of conversion. Capable of supporting CSIO, Association for Cooperative Operations Research and proprietary formats, BrovadaOne enables you to move data seamlessly between disparate systems.