BriteCore has six categories of underwriting enforcement:
- Geographical Restrictions
- Product Offerings
- Enterprise Knockout Questions
- Step Specific Rules
- Underwriting Questionnaire
- Straight Through Processing
Geographical Restrictions
Definition: Limit where risks are written.
Features:
- Limit writing based on state, county, or ZIP.
- ZIP codes can be restricted and approved on a case-by-case basis.
Examples:
- Only write in Missouri.
- Don't write in ZIP code 90001.
- Don't write in Greene County.
Setup location:
- Settings > System Wide > Business Locations
- restricted_zip_codes database table
Product Offerings
Definition: Product offerings that the client will sell in the marketplace.
Features:
- Forms, endorsements, fees, surcharges, and credits and when they are effective.
- Use underwriting rules tool to automate offering rules.
Example: HO form 3 but not form 4.
Setup location: Lines module.
Enterprise Knockout Questions
Definition: Questions that apply regardless of line of business.
Features:
- Clients can ask for further explanation via a text input box and allow a quote to proceed.
- Clients can fire a pop-up window based on the yes/no answer that indicates the quote should stop.
Examples:
- During the last 5 years, has any applicant had a foreclosure, repossession, or bankruptcy?
- During the last 5 years, has any applicant been indicted for or convicted of any degree of the crime of fraud, bribery, or arson?
- Has this insurance been rejected, canceled, or non-renewed in the past 3 years?
Setup location: Lines > Effective Date > Underwriting > Questions
Step Specific Rules
Definition: Rules that apply to specific steps in the quoting process.
Features: BriteCore offers various settings that offer some customization.
Examples:
- Require SSN.
- Require DOB.
Setup location: Various locations.
Underwriting Questionnaire
Definition: Questions that are specific to a line of business or policy type.
Features: Clients can collect additional information and make the answers either require an unbound submission or reject the application outright.
Example: Previous carrier.
Setup location: A specific line item in the policy type.
Straight Through Processing
Definition: Set of business rules that determine whether a policy should be issued without underwriter review.
Features: Clients can define what to do with an application upon submission (commit, reject, or place in a review queue).
Examples: If the following are true, don't automatically issue the policy:
- Age of Home > 40 years old.
- Loss History > 0 losses.
- Insurance Score = Low Score, Bankruptcy, or No Match.
- Mortgagee = More than 2.
- Roof Age > 20 years old.
- Roof Condition = Fair or Poor.
Setup location: A custom yml file in STP Github repo.