January 20, 2009
Mansell Underwriting and Management Company (MUMCO) is a brand new business acting as a Managing General Agent, initially for business transacted under binder arrangements with Inter Hannover. With a focus on the highly competitive Small and Medium Enterprise (SME) arena, MUMCO knew it had to have outstanding processes and technology from the start in order to make an impact on the market.
MUMCO saw KnowledgeCenter’s KC Binder Manager solution and realised that it had most of the required functionality, with one notable exception. A key part of the MUMCO requirement was the ability for regional Brokers to interact directly with the MUMCO systems at the point of quoting and signing new business. KnowledgeCenter was happy to take on the challenge, as Sales Director, Alan Isaacs, reports:
“At KnowledgeCenter we have built our business, and our products, by responding quickly to real life needs out in the market. By doing that we know that the added value we build into our products is fit to provide real life solutions.”
KnowledgeCenter worked with MUMCO to define a new portal module in the KCenter product set. Together the KC Portal and KC Binder Manager form a new solution, KC Coverholder, to provide end-to-end processing of Managing General Agent business.
KC Coverholder leverages many features of KnowledgeCenter’s software portfolio, bringing them together into a coherent business solution. At its heart, KC Coverholder is based on the well-established document management and workflow capabilities of KCenter. KCenter’s tight integration with market-leading document assembly software from Exari, allows automated document production at both quotation and policy sign-up time.
Crucially, the KC Coverholder solution enables each regional Broker to create their own paperwork by working directly on the KCenter system under the control of the portal. This allows the Brokers to respond quickly to their customers and complete the full sign-up cycle under their own control. The system knows when the circumstances of a particular risk require that risk to be referred to MUMCO for an underwriting decision, but the aim is that the vast majority of the cases will be “straight through processing”.
The flexible and configurable Facility definition features of KC Binder Manager are used to provide a means of keeping track of the binding arrangements and the business transacted through those arrangements. And that business can easily be reported back to the risk carrier using the built-in bordereau-style reporting features.
It’s a solution that “ticks all the boxes” for MUMCO. As MUMCO Chief Executive Peter Murrell says:
“KnowledgeCenter really understand what we need. We plan to grow the business rapidly and it’s good to know that our software will grow with us. We will be taking on more classes of business in the near future and it is important to us that we can get our systems ready to cope with these classes with just a few days additional configuration of the KCenter system”.
Learn more about KC Coverholder.