Update Incomplete Insurance Applications

Client Need

A large property & casualty insurance carrier, producing business via a nationwide network of independent agents, brokers and financial advisors, needed an affordable solution for updating incomplete applications with missing property-related information. In the past, the provider used microfiche and other offline methodologies, which was time consuming, expensive, cumbersome, and often outdated. The insurer sought an online solution that would enable multiple users to research the underlying property characteristics using comprehensive search criteria.

Solution

Using First American CoreLogic's online property data solution, the insurance provider is able to gather property detail using many query options, including property address, owner, comparable sales and more. In addition, members of their application review team can simultaneously research and update incoming applications and immediately move them to underwriting.

Results

By implementing this online property research tool into the front end of their application processing, the carrier has accelerated application underwriting and policy issuance, and decreased lost business related to uncompetitive turn times.