Ravello's web-based Policy Administration software supports the entire policy lifecycle, is offered as a stand alone application and integrates into Ravello's Billing and Claims Management systems for a complete solution suite.
Highlights of Ravello Policy include:
- Business Origination (quotations and new policy binding)
- Electronic submission of business
- Binding policies in real time
- Multiple-level underwriting with automatic/semi-automatic/manual underwriter support
- Endorsements (money, non-money, and out-of-sequence)
- Ad-Hoc Reporting
- Active Policy History Timeline
- Unlimited Login/Portal types: Underwriters, Agents, Insureds, Outside Auditors, etc.
- Rating and quoting online (with precise calculations instead of gross estimates)
- Retrospective rating
- Reinsurance Management and Bordereau Reconciliations
- Automatic debit or credit adjustments
- Generating, viewing and printing forms online
- Policy flagging capabilities
- Complete file search engine
- ACORD Certificates of Insurance
- Robust user notification/alert engine
- E-mail capabilities
- Renewals and Quotes
- Underwriter diary system, alert and messaging capabilities
- Production of proposals, applications (including ACORD) and quotations
- Maintenance and updating of rates, rating rules and rating factors
- Document generation in PDF format
- Reconfigure user workflows and interfaces
- Customize data analysis reports
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