Solartis Insure: Policy Life Cycle Services

1. Solartis Insure: Policy Life Cycle Services Partner with Solartis so you can focus your resources on a digital strategy that differentiates your insurance products in the marketplace.

2. Insurance Policy Lifecycle • Leveraging Solartis policy life cycle web services in conjunction with third party content providers (like ISO ERC, Google, Oden etc) reduces the overall cost and timeline of your project and minimizes project risks as you are integrating with proven services and content instead of building them from scratch. • The Solartis Insure platform is a complete set of insurance transaction micro web services that are provided through standardized APIs in a secure, redundant, enterprise-level cloud environment. These micro web services span the entire sales and policy lifecycle process from initial rating and quoting to policy issuance and ongoing servicing. For an examination of each Solartis web service, read on!

3. Insurance life cycle policy process

4. The Solartis Insure Cloud Services: Supports the entire sales ad policy life cycle or just the components you need. • Available in two delivery models: “Software as a Service” (with our User Interface) and “Platform as a Service” (with your User Interface). • Fully integrated with third party content providers like ISO ERC, Google and Oden to speed up time to market, guarantee accuracy and minimize implementation risks. • Can be utilized on all consumer devices – mobile, tablets and traditional computer browser interfaces. • Pricing is transaction based – no upfront license fees and you only pay for what you use.

5. Features of SolartisInsureTM Policy Life Cycle Services: • Enrollment • Clearance • Quote • Refer • Underwrite • Propose • Taxes & Fees Compliance • Bind • Issue • Bill / Invoice • Document Production • Certificate of Insurance and Auto ID Card Administration

6. Enrollment • Solartis Insure services include enrollment and payment capabilities for enrollees to select and purchase insurance coverage online. • Online enrollment and payment is increasingly being viewed as “must-have” functionality for consumer business worldwide. • From a customer service standpoint, potential enrollees are demanding quick and easy ways to select and buy coverage. • From a profitability standpoint, the low premium per enrollee requires that administrative and customer service costs be kept at a minimum. • Enrollment Service Example: The enrollee accesses the Solartis Service via a link on the desired company website. In a simple process, the enrollee selects the coverages they want, accepts any terms & conditions that may apply, enters insured and other relevant data, as well as payment information. • The policy or certificate is emailed to the enrollee on completion of the process or the enrollee can download the document immediately. • All subsequent transactions (e.g., future payment transactions and changes, coverage and policy modifications, reporting etc) are supported by the other Solartis Insure services.

7. Clearance • Risk and Coverage information is entered into the system by an authorized user. The system utilizes its rating rules, premium and factor tables, as well as valid value tables to calculate each of the product’s coverage premiums. The coverage premiums are displayed on the screen for review by the user. At this time, a rating worksheet or quote proposal can be produced as a PDF. Additional copies of the quote (and its corresponding output) can be produced as needed. • Quick Quote capabilities are available for all user types (e.g., insureds, brokers, underwriters etc). This allows the user to obtain a quote proposal instantly by entering the minimum amount of information. • Carrier and / or Coverage shopper capabilities can be configured if desired. Shopper screens display multiple premium options for the user (e.g., insured, retail agent) to choose from.

8. Quote • Quick Quote capabilities are available for all user types (e.g., insureds, brokers, underwriters etc). This allows the user to obtain a quote proposal instantly by entering the minimum amount of information. • Carrier and / or Coverage shopper capabilities can be configured if desired. Shopper screens display multiple premium options for the user (e.g., insured, retail agent) to choose from.

9. Refer • A Referral is sending the risk or task to another user for review and / or processing. Referrals can be either system triggered based on rules or manually triggered by the user (i.e., broker). • Additional correspondence can accompany the referral (by entering info into the quote record or attaching a imaged document). The quote status is changed to “Submit” when referred. • Workflow rules determine which user (i.e., underwriter) gets the referral. The referral recipient (i.e., underwriter) can decline, underwrite and price, and create a quote proposal. • The process can occur as many times as necessary between multiple users (i.e., the broker and the underwriter). All transactions and activity is stored and auditable.

10. Underwrite • Depending on the level of automation desired, risk acceptance, rejection and referral rules can be automatically triggered in Solartis Insure. • These rules are based on your product and company specific guidelines and can be as strict or as lenient as desired. • Automated underwriting rules are generally implemented for insured or agent usage and when triggered either stops the user from issuing the quote or proposal or suggests the risk be referred to an underwriter. • If no rules are triggered the user can continue processing the risk as specified by their permissions.

11. Propose The proposal process varies based on the user’s authority, insurance product protocols and company rules. In Solartis Insure we tailor the proposal procedures and activities to conform to your unique requirements: For example: • Once a proposal is issued the quote is locked to prevent undocumented changes • Multiple versions of a proposal (quote) can be produced and are tracked to support desired changes / quote iterations • Proposal and / or worksheet documents are produced as PDFs to be emailed or distributed to the brokers and / or insureds • Supporting information and documentation can be produced with the proposal (e.g., application documents, schedule of forms, instruction packets, etc.)

12. Taxes and Fees Compliance Maintenance of State Taxes and fees for each state are becoming more complex and challenging for companies to maintain. Solartis State Surplus Lines Tax and Fee Services can be purchased as part of SolartisInsure’s full Policy Life cycle or as a standalone service. • State Surplus Lines Tax and Fee Calculations: • Web Service interface • State level Taxes, Fees and Surcharge values/factors and algorithms • Personal and Commercial Lines, All states • Option for authorized user to override system values/factors • Real-time response (quote re-calculations, binder issuance, mid-term endorsements, cancels, re-writes) • State Surplus Lines Tax Regulatory Reporting Support • Web Service feed to third-party Regulatory Reporting systems

13. Bind • The bind process and the rules of binding an insurance risk varies based on the user’s authority, insurance product protocols and company rules. • In Solartis Insure we configure the bind procedures and activities to conform to your unique bind requirements. Example of a retail agent submitting a request to bind: Once a quote proposal is produced and accepted, the retail agent can request a binder. This is generally performed as a referral to the underwriter. Once the binder request is received by the underwriter, the underwriter has full access to all entered and received information for review and approval. • A rating worksheet is available to the underwriter for applying underwriter surcharges / deviations (if needed). Upon underwriter acceptance, the underwriter issues the binder (with the designated effective date and any desired conditions). The binder (and its supporting documents) is available as a PDF to the retail agent. • The underwriter can email the binder to the retail agent or he can access it via Solartis Insure. Example of a retail agent with binding authority: Once a quote proposal is produced and accepted (accepted because it meets the automated underwriting guidelines) the approved retail agent has the authority to ether request a binder from the underwriter or issue the binder themselves. • All desired documents and binder conditions will be provided based on the retail agent’s authority and automating underwriting rules.

14. Issue • The Solartis Insure issuance process can be tailored to meet your specific carrier and program requirements: Example Workflow: • Once the bind transaction is issued the binder document is produced and a policy number is assigned (user or system generated). • A policy issuance checklist or the Solartis Insure subjectivity service is invoked to ensure all proper information is received and procedures are followed before issuance occurs. • All policy declaration pages and its attachments (based on coverages selected) are available for preview before issuance. • If needed, additional forms can be selected from the forms library. All policy documents are produced and stored in a PDF. • The PDF document is available to all designated parties via printing, email or accessible in Solartis Insure. All policy documents can be exported to document management systems for external storage.

15. Bill / Invoice At the appropriate point in the policy life cycle, Solartis Insure generates electronic or paper invoices. Invoices can be issued as a standalone process or in conjunction with other policy transactions (e.g., bind, renew). For installment based invoicing and endorsement transactions, Solartis Insure generates the invoice at the designated point in the policy life cycle. • A copy of the invoice transaction (and invoice PDF) is stored with the policy record • A complete record of all invoice transactions (and payments received) are maintained in Solartis Insure

16. Document Production Solartis Insure generates the appropriate documents as PDFs for the specified transaction. These documents include: • Quote and Underwriting Worksheets • Proposal Letters • Applications • Binders • Invoices • Policy Declaration Pages • Attaching Forms • Certificates of Insurance • State Surplus Lines Notices • Endorsements • Cancellations and Reinstatement Notices • Renewal Policies

17. Certificate of Insurance and Auto ID Card Administration ACORD Certificates of Insurance, ACORD Evidence of Insurance and Auto ID Cards are dynamically generated on-demand. Automated business rules determine whether the Certificate Record is complete and whether the user is authorized to issue. The Certificate of Insurance is auto-populated with data from the Certificate Record. SolartisInsure’s Certificate Issuance Services includes the following: • Certificate Processing Instructions • Templates (ACORD) • Distribution (email, fax, off-site and local print, web) • Ad Hoc Request Processing • Reprinting • Batch / Renewal Processing • Client / Broker Self Service • Record / Certificate Management • Reporting • Performance and audit activities • Regulatory Compliance (e.g. OFAC, ACORD)

18. Endorsements and Audits • All policy endorsements and audits are supported in Solartis Insure. • Once the policy is issued, the designated user selects to add the endorsement or audit, and modifies the appropriate policy information. • If the premium is to be adjusted the system re-rates the policy with the new information and displays back the annual and pro rata coverage premiums / changes for review. • When the designated user issues the endorsement or audit the appropriate forms are produced from the system. • A complete history of all policy transactions are stored in Solartis Insure.

19. Renewals • The Solartis Insure policy renewal process can be tailored to meet your specific carrier and program requirements: Example Process: At a defined date before the expiration date of a policy (i.e., 3 months) the system automatically creates a renewal quote containing the latest information on the policy and the latest application information in the system. • We also pull information from other systems as needed ( e.g., claims, general ledger). • Product specific renewal rules are triggered to determine what happens to the renewal quote. • For example, if no flags are triggered the system generates the renewal quote and a pdf quote proposal will then be automatically sent to the broker or insured. • If a flag is triggered (e.g., claims over a $ amount, non-payment of premium) then the renewal quote can be automatically generated so it must be reviewed by an underwriter.

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