Surplus Lines
Master Risk Management with Beyontec Suite for Surplus Lines
The high degree of risk associated with Surplus Lines necessitates a core system that has strong risk management functionality and the ability to integrate with reinsurers and other specialty wholesale insurers. The need to apply more stringent risk selection guidelines, disciplined underwriting, and strategic pricing makes digital technology and automated processes critical to this market.
Product Highlights
Beyontec Suite, with its cutting-edge reinsurance module, enables comprehensive risk evaluation and management functions for surplus line insurers.
Cloud-Based Solutions
Beyontec Suite allows you to keep up with shifting business trends with a core solution that is configured with industry-specific products that meet the majority of Surplus Lines insurance companies’ needs.
Pre-Configured Products
Beyontec Suite comes with pre-configured products for Surplus Lines insurance companies, making it easy to launch new products and modify existing products.
Portal-Driven
Beyontec Suite establishes an online presence and extends business activities to the web. It serves more customers by interconnecting policyholders, agents, and other business partners.
Highly Secure and Scalable
Beyontec Suite enables authorized users to securely access application data and define and manage users, groups, access rights, and authorities while implementing maker-checker compliance.
Reinsurance Module
Beyontec Suite’s comprehensive reinsurance module enables surplus line insurers to handle all reinsurance activities including proportional, Excess of Loss, facultative, and co-insurance.
Broker and Agent Portal
Beyontec Suite offers an agent and broker portal through which real-time quotes can be initiated, policies can be issued, and policyholder information can be accessed.
Automated Underwriting
Beyontec Suite offers a catalog of business rules influenced by existing surplus lines insurer clients and driven by a powerful business rules engine.
Comprehensive Rating Engine
Beyontec Suite’s comprehensive rating engine allows insurers to configure their own rating variances and systematically apply surcharges and credits based on risk.
Embedded E-Signature Functionality
Beyontec Suite provides embedded E-signature functionality to facilitate the signing of pertinent documents at multiple levels based on workflows defined by the insurer.
Inspection Gathering
Beyontec Suite provides the ability to systematically request inspections from third-party vendors and to validate inspection results using automated underwriting and business rules.
Intelligent Workflow
Beyontec Suite tracks new, pending, and backlogged tasks and notifies producers, insureds, and employees of pending work through a variety of workbaskets.
Flexible Payment Methods
Flexible payment options and payment types including cash, check, credit card, debit card, ACH, and EFT can be implemented and offered to customers.
Integrated General Ledger
Beyontec offers a full General Ledger module that integrates seamlessly with Beyontec Suite to provide a complete repository for all financial data. The GL also provides a complete set of financial reports including the balance sheet and income statement.
Configuration Toolkit
Beyontec Suite’s built-in configuration toolkit allows surplus insurers to manage the day-to-day changes to products, workflows, rating, and underwriting rules using fully integrated tools.
