Policy Tracking System
 Intro | PTS Background | PTS Features & Benefits | PTS Configurations
Complete Insurance Automation Platform
Quote • Rate • Comparative Rating
Best Fit Rating • Underwriting • Claims
Policy Maintenance • Issuance
Payment Processing • Document Imaging
Custom Reporting • Premium Finance Package
Catastrophic Recovery • Data Warehousing
Rate Analysis Tool • Workflow
Proven implementation in 90 to 120 days
PTS is a real-time Internet ready management or automation system for the Insurance industry. Never before has there been an all-in-one system managing information from policy administration and reporting functions to agency point of sale. PTS can increase efficiency across all your business processes.
PTS manages and
increases efficiencies among an insurers most critical functions
and throughout the entire organization. IDMI Systems has installed more that 30 PTS systems across the U.S. supporting Personal and Commercial lines within the Insurance Industry.
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Policy Tracking System
Intro | PTS Background | PTS Features & Benefits | PTS Configurations
PTS Background
The
PTS was designed from scratch by two teams with diverse
fields of expertise.
The
first team brought knowledge and skills in computer programming,
Internet technologies, network configuration, and database and website
design for software applications.
The
second team consisted of seasoned Insurance industry veterans.
They brought a request formed by their frustrations with
other software management or automation providers they had dealt with
in the past. They laid out in detail their basic needs.
In addition, they issued a challenge to provide them with a management or automation system with additional features and capabilities
that other software developers in the Insurance industry
had denied them.
From
this pairing the IDMI Systems team was formed. Together they created
an Insurance management or automation system that combined the basic needs
an Insurer should demand from its management or automation system
with the newest technology available to them.
As
part of the development process, the PTS was put through
rigorous testing in the field. The
team was pleased with the performance of the PTS as were
the Insurers that participated in the initial testing.
Together
they had created an efficient, all-in-one policy tracking
solution for the insurance industry.
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Policy Tracking System
Intro | PTS Background | PTS Features & Benefits | PTS Configurations
PTS
Features & Benefits
| Utilizing
Internet technology, the PTS:
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Workflow/Administration
The PTS provides the capability for the insurer
to establish a hierarchy of users or individual agents
within its organization to have access to only the
information that the insurer wants them to see. The
insurer administers the system. He/she can add users
at any time. They decide and select what users to
give access to and what level of access a user is
given. Within this heirarchy insurers may utilize the workflow
built into PTS that allows them to pass work from one user or group
to another. They also have the capability to dynamically
assign insured accounts to particular users.
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Accounting
The PTS is designed to interface with an external
accounting package. It can send the calculations
it makes, or acquire data to/from the external accounting
package.
Data
can be acquired by the PTS to ensure the financial
information corresponds with the active policies
in the system and generate a report of any inconsistencies
between PTS data and accounting information. The
PTS can also generate files that can be received
by your external accounting system.
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Policy
Tracking and Management or Automation
The PTS uses Microsoft SQL server technology
and is capable of handling millions of policies.
The system allows you to track all relevant policy
information including: policy number(s), premium
information NCCI code(s), producer or sales agent,
policy writer, complete insured information, assigned
company representative for a particular insured,
and policy status information (including payments,
renewal information, payment terms, deposit information,
etc.)
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Internal/External
Communication
The PTS includes an extensive correspondence
module. This feature creates the daily memos used
to communicate with customers. It also uses stored
information to automatically generate contact and
mailing information and customizes memos to include
a company logo to lend a professional look to all
internal and external communications.
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Transition
and Compatibility
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The
PTS is designed to be completely scalable.
This allows the PTS to expand its capabilities
and grow as an Insurers business grows.
Additional lines can be added as needed.
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Converting
an Insurers database over to the PTS is
a seamless transition.
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The
PTS is compatible with the AS400 and can
be utilized in conjunction with the AS400
to improve efficiencies in an Insurers
business.
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Reporting
(PTS contains a custom reporting module in addition to the reports listed here.)
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Net Written/Company Commission
Fees Collected
Taxes Collected
Payments Rcvd
Payments Due
Payment Totals
Bank Deposits
Producer Commissions
Company Commissions
Commission Discrepancy
Unpaid Producer Commissions
Producer Statement Balances
Refunds
Policy Balances
Class Code Reporting
SIC Code Reporting
Current Due
Adjustments
Binding
Submissions
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Producer Quote Submissions
UW Quote Submissions
Company Quote Submissions
Producer Activity
Producer Production
Class Code Production
Producer Summary
Producer Ranking
Agency Call Report
Company Activity
Company Production
Company Summary
Monthly Company Summary
Claims List
Activity
Summary
Claims Details
Individual Statement
Policy Status
Insured Status
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Agency Account Current
All Statements
All Agency Account Current
Producer Directory
Suspense Report
Document Imaging Report
Document Imaging Audit
Producer/Agent
Daily Binding
Producer/Agent Ranking
Company Production
Upcoming Insured Renewals
Renewal
Daily Receipt
Accounts Receivable
Insured Status
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Policy Tracking System
Intro | PTS Background | PTS Features & Benefits | PTS Configurations
PTS Product Configurations
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PTS Components
Multi-company and multi-line environment
PTS is designed to support all lines of property and casualty including standard, nonstandard, excess and surplus as well as ad-hoc, add-on policies and coverage certificates.
In addition we can cater to Carriers and MGA’s with unique opportunities including:
Non-standard Auto(Variable Term, 1 month, 6 month, 12 month, Point of Sale, add-ons, Best Fit Rating, Premium Finance)
Standard Auto
Homeowners(HO2,HO3,HO4,HO6, Non-standard and Standard)
Forced Placed(Auto, Home, RV, Mobile Home, Watercraft)
Flood(Flood, Excess Flood)
Dwelling Fire(DF1,DF2)
General Liability
Workers Comp
Inland Marine
Mobile Home(Standard and Package)
Watercraft(Boat, Sailboat, Jet Ski, other)
Add-on/Ad-hoc(ADD, Hospital Indemnity, Legal, Towing/rental, Life, Health)
Motorcycle
Excess and Surplus
Medical Malpractice
Artisans
Farm Owners
Renters
Condo
Commercial Package Policy
Commercial General Liability(Nursing Home, Car Wash, Taxi, other)
Event Policies
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PTS Modules or Components
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Submission Module
Quote Module
- Real-time rating engine
- Best Fit Rating
- Vehicle Surcharge by Vehicle
- Comparison Rating (Multi-Company)
- Rating Detail Display
- External Interfaces(VIN lookup, MVR's, credit scoring, etc)
- Exception underwriting supported
- Endorsement requests may be initiated by the agent
- Endorsement calculator
- Out of sequence endorsements
Policy Maintenance
Policy Memo Module
Producer Statement Processing
- Direct Bill
- Agency Bill
- Premium Financed
Invoicing & Payments
- Coupons 'book'
- Periodic coupon invoicing
- Statement invoicing
- Scan Payments
- EFT Payments
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Cancellation Processing
- Automated Non-Pay & UW Multi-Cancellations
- Equity Dating
- Automated Reinstatements of Non-Pay Cancels
Renewals
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Batch Processing
- Batch Templates
- Memo Batching
Claims
- Module
- Claims Processing System
Reporting
- Standard Production Reports
- Earned Premiums and Loss Ratio: Policy Level
- Earned Premiums and Loss Ratio: Coverage Level
- Custom Reporting/Log Database Access
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Company
The Company configuration is designed for insurance carriers. It has the complete
capabilities to run a company's operations including: policy administration, reporting,
accounting, policy issuance, suspense, correspondence, and billing and claims processing.
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MGA
The MGA configuration has the complete capabilities to run an MGAs operations
including: policy administration, reporting, accounting, policy issuance, suspense,
correspondence, and billing processing.
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Agency
The Agency configuration is designed for retail agencies. It has the complete
capabilities to run the agency, including policy administration, reporting, suspense
system, correspondence and accounting. This configuration is fully compatible with the
Company PTS and can provide direct real- time transfer of information between the agency
and company via the Internet.
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Point of Sale
The POS configuration is a limited version of the full PTS package. This configuration
gives the MGA the opportunity to use the features and efficiencies of the PTS system
without having to completely replace their existing in-house management or automation system. Pricing
for this configuration is based on a per application fee.
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Online
The Online PTS is geared directly toward smaller agency offices. It allows a small
office operation the luxury of a full-featured system, without the purchase of a server
and software. The Online PTS has all the capabilities of the Agency PTS, but is run
completely over the Internet as a service. It also includes an interface to transfer
policy information directly to the issuing company.
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PTS Online Demo
(No waiting, see it now!)
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PTS Info Sheets
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PTS Screenshots
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LIVE Demo of PTS
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More Reviews >>
"As a new company, it was essential that we bring up a system that would give our agents the best possible impression and make their job, writing insurance with Homeowners, as easy as possible. It was also important that we get a product to market as soon as possible. IDMI delivered on both counts. Our web-based agent portal is a winner in the marketplace and we were up and running within 30 days after we received our charter."
-- Spence Tucker
President Homeowners of America Insurance Company
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"I attribute a large part of my company’s success to the PTS system."
"PTS has been a critical component in the success of our company. IDMI’s rapid development and implementation of the PTS system was an integral part of the earlier than scheduled profitability of Endeavor. Still to this day, others find it hard to believe we were rating, writing and issuing policies on our new system in less than 3 months."
"…IDMI’s real strength is you have always exceeded my expectations. This has developed into a strong partnership…"
"I am continually gratified with my choice to enter into a relationship with IDMI and the use of the PTS system."
-- John McKinney
President Endeavor General Agency
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"PTS is used by our insurance carrier Delta Lloyds Insurance Company. Since implementing, this WEB based policy tracking and issuance system, agents can rate and request binding and check status of billing, all at their convenience 24/7. This system includes work flow so that the entire process is very fluid and easy to monitor. Policy issuance that typically took 2 weeks is now handled and processed next day when direct bills are mailed."
-- Bill Fink
President of Delta General Agency Corporation and Delta Lloyds Insurance Company
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