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More than 2500 brokers, 700 insurance plans and 100 carriers spanning 10 provinces and 3 territories have one thing in common - Compu-Quote rating services. Whether in a Brokers' office as a Mainframe Underwriting Server or enhancing an Internet site, Compu-Quote engines drive the automobile and property quotes ultimately reviewed by your underwriters.
How do we maintain, support, and update those 700 underwriting and rating plans - once a week - 52 weeks a year? With OpusWorks - It works for us and it can for you too! A simple solution to a complex application. And now you can license this same technology and provide your brokers with updates which you have authorized.
With OpusWorks, you control the quotes coming from Compu-Quote’s rating services. Our simple-to-use point and click utilities allow you to set your rates, change your underwriting and guarantee your premiums - and that’s just the beginning.
The complexity and dynamics of underwriting and rating automobile and property insurance has never been as acute as they are today. The number of underwriting criteria and rating classifications continues to grow as a result of legislative changes and industry initiatives such as CLEAR vehicle group rating across Canada.
Through OpusWorks, control over the accuracy and timeliness of rate and underwriting updates is guaranteed by the insurer. Updating is available via the Internet.
The following highlights the core functions of OpusWorks
OPUS Utilities Develop and maintain rate and underwriting files for CQ rating engine applications including:
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Auto and ancillary products (ex. Motorcycle, Motorhome, Antique, etc.) |
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Habitational and ancillary products (ex. Condominiums, Tenants, Seasonal) |
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Provide risk assessment and scoring functions. |
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Provide multi level binding and issuing functions |
OpusWorks functions in conjunction with CQ Rating Engines featuring:
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Quoting |
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Underwriting |
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Rating |
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Policy Issuance |
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Policy Change |
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Renewal Processing |
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Cancellations Processing |
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Reinstatement functions, and allows printing of all declaration and application documentation. |
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Provide mapping functions for application to application interface. |
The Rating Engines are available with or without a user interface. This means an insurer can develop their own interface to use with the CQ engines or send the engine to be called by another rating application or management system. The real advantage for the insurer, is having control over the rating engine data used to establish the underwriting criteria, rates and eventually the final rate for the risk. The insurer can maintain control over - one engine - which can be used and interfaced with multiple vendor applications. It eliminates the need to audit multiple vendor applications. It eliminates the question of accuracy and timeliness and puts the control of underwriting and rates where it should be - in the hands of the insurer.
OpusWorks - control in your hands. The way it should be! |
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