Beecher Carlson, an Atlanta-based insurance brokerage and risk management consulting company has launched NOVUS, a browser-based program-building solution that dramatically accelerates the issuance of accurate commercial insurance policies. NOVUS enables real-time communication and collaboration among all three parties in the insurance value chain—the client, broker and insurer—so they can interactively build insurance programs online. Using NOVUS, Beecher Carlson can significantly accelerate the time-to-delivery of a complete and accurate policy, eliminating a major client frustration.
“We developed NOVUS to fulfill an unmet need in the market,” Tom Golub, Beecher Carlson president and chief executive officer explained.. “All parties, clients, brokers and insurers are interested in getting policies issued accurately and at the time of inception. But until now, no other broker has been able to develop such a streamlined, user-friendly, intuitive solution. NOVUS represents a huge leap forward in efficiency for commercial insurance clients, brokers and insurers. We know our clients will be delighted by this revolutionary solution.”
NOVUS is designed to allow complete transparency, enhance submission consistency and preserve data integrity. For insurers, NOVUS makes handling complex submissions easier. The system streamlines online submission review and quoting and tracks responses as they are received. The insurer, along with the client, can easily view all coverage details and supporting materials.
For clients, NOVUS delivers complete transparency. Since each program is actually “built” using NOVUS, clients can see where they stand at any point in the process. They can also see how Beecher Carlson has positioned their risk, review insurer’s communication and track countering responses.
NOVUS manages all four phases of the insurance placement process: submission, quoting, program review and proposal, and policy selection, recommendation and issuance. NOVUS provides a completely trackable, paperless process that facilitates:
• Real-time collaboration: All three parties in the insurance value chain, client, insurer and broker are connected, allowing each to communicate and collaborate at any time online.
• Full automation: Designed to provide substantial productivity gains and improved service, NOVUS centralizes the entire policy submission and building process, providing a secure digital archive of each interaction and eliminating ceiling-high stacks of paper.
• Complete transparency: Clients can see every form, every quote and every endorsement at any time in the process.
• Accelerated policy delivery: NOVUS allows all three parties to interactively build the policy. With everyone on the same page, Beecher Carlson significantly accelerates the time-to-delivery of a complete and accurate policy.
• Improved accuracy: NOVUS enables each party to review the policy before it is bound. Sharing this information electronically significantly accelerates the insurer’s ability to issue an accurate policy.
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