A large part of auto insurance to consumer
marketing involves the availability of discounts. The problem with these discounts
is many policyholders have little time to chase documentation needed for agents
to apply the discounts. Agents need to find ways to separate themselves from
the competition. Often, student-related discounts go unused because of the aforementioned
reasons. Unless the agent has documentation in hand, he or she cannot apply
the discount needed to secure new business, or retain written business.
The discounts can be substantial. They can make a significant premium difference.
They can attract and retain policyholders. And yet they are underutilized even
though these discounts can extend to age 25 in some cases, and save policyholders
up to 20% per year.
Substantial savings over current back office processes used
to validate the good student discount.
AVIATOR assists insurance
companies by eliminating the need to process
paper transcripts and report cards at the back office and agency level.
Easy to use implemented
over any distribution channel and automated
transaction to update your policy administration system.
The company will realize
substantial operations savings due to the streamlining of the discount application
process. The agent will spend less time chasing documentation and free up more
time to manage profitability. AVIATOR
increases
ratings accuracy
while
eradicating instances of fraudulent document submissions. This, in turn, reduces
the amount of auto premium lost by the insurance company due to ineligible discount
application.
A streamlined method for verifying good
student discounts would be mutually beneficial for the agent, policyholder,
and ultimately the carriers themselves.
Our industry leading Aviator
(Patent Pending #60949215) (Automated Verification of Information At Time of
Request) is an internet based system, enables scholastic information to be electronically
processed by insurance carriers for all high schools and colleges in the United
States without need for advance registration by these schools and colleges.
The process is 100% validated by PRR to insure that only those eligible receive
the discount.
Aviator automatically
processes renewal student information
based upon the insurance carrier's underwriting rules.
PRR’s system AVIATOR coupled with PRR services enables
the elimination of report cards and transcripts providing substantial savings
over current back office processes used to validate the good student discount.
Fraudulent proof of eligibility is eliminated, reducing
“premium leakage” by insuring only those policyholders who qualify receive
the discount (a PRR Service Level Agreement)
Substantial savings
over current back office processes used to validate the good student discount.
Easy to use for any distribution channel
Elimination of follow-up correspondence among the policyholder,
distributor and the insurance company when the report card is not timely
submitted for processing
Subsequent good student verification synchronized with
policy renewal dates
An automated transaction to update your policy administration
system
