The Policy Administration software module from Oceanwide features customizable screens and workflows, along with a range of functionality for managing policies throughout their entire lifecycle. This system allows the recording of all types of data and coverage-specific risk information for all lines and transaction types, and includes a tax calculator for managing multinational programs. Built-in workflows handle all common transactions like cancellations and reinstatements, out-of-sequence endorsements, new business and automated renewals. Its rating and underwriting rules engine allows users to: calculate premiums, taxes, commissions and any other applicable fees; validate all data entered; and, generate MS Word-based templates for quote and policy documents.
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