Welcome to RiskVille Exchange
As a natural consequence of RiskVille now being the core system for many providers as well as purchasers of insurance, we now offer that the different players can integrate with each other directly through RiskVille. We call it RiskVille Exchange.
The first link in the symbiosis
With the recent release #108, RiskVille has made it possible for insurance purchasers (brokers) to receive a copy of all relevant data directly into their own policy administration, directly from the insurance provider (agency / MGA / Carrier).
The prerequisite for this symbiosis is of course that both parties (provider and purchaser) use RiskVille in their policy administration. But when that prerequisite is met, both parties can configure the mutual exchange in minutes, after which the “cohabitation” can begin. In the daily policy administration, the following then happens:
- Every time the provider binds an insurance, a copy of the UW details, premium and other policy information will flow to the broker’s Insurance reception.
- The broker can confirm the import of the individual insurance policies via the reception with a single click, after which the same insurance policy is present in the broker’s own policy administration.
Sample from brokers insurance reception in RiskVille Exchange
The primary benefit in this symbiosis goes to the broker, who automatically receives updates on new and changed insurance policies. This automation removes manual data entry and reduces the risk of inconsistent underwriting data, while also enabling real-time policy information transfer from provider to broker.
Future enhancements (true symbiosis)
The definition of true symbiosis is that it is mutually beneficial for both “life forms”. The fact that a chain has been created between the two parties around the same insurance in RiskVille, further exchanges are logical steps toward full symbiosis. For instance, one could consider additional extensions like these:
- Broker can request midterm changes.
- Exchange of Documents.
- Support for renewal process with regulatory info.
- Open for broker to draw on provider’s quote generator in RiskVille.
- Claims
RiskVille offers full functionalities for all types of actors around insured clients, not just CRM, Insurance and Document administration, but also RM, Claims, Workflows and much more. Staying in the biology terminology, you can see many benefits by having all the actors represented in the same biotope, RiskVille.
And with 15 new releases yearly, the RiskVille biotope evolves quickly, so watch this space 😊
If you have any questions about Release #108, feel free to contact us at support@riskville.com
