AAIS COP-UP Brochure - American Association of Insurance Services

COMMERCIAL OUTPUT PROGRAM
& AAIS UNDERWRITING PLATFORM
COP
Commercial Output Program
The Leader in Output Coverage
Output policies are an ideal way to provide broad,
flexible property coverage and peace of mind to large
commercial risks.
With output policies, agents, brokers, and underwriters
don’t have to combine disparate forms and rating
procedures into a package policy, running the risk of a
coverage gap and E&O exposure.
For decades, AAIS has led the property/casualty
industry in developing output coverage with its two
defining characteristics:
inclusion of broad commercial property and
§ The
inland marine coverage in a single base form and
a few coverage parts, and
use of a flexible rating procedure to rate each
§ The
risk as a single entity.
AAIS set the industry standard when it expanded
eligibility for output coverage from manufacturing to
commercial and institutional risks. Today, more than
100 insurers, including some of the largest carriers in
the U.S., use the AAIS Commercial Output Program.
What do those product experts see in the COP?
COP streamlines the process of writing and
§ The
rating comprehensive property coverage.
COP is ideally suited for large, multi-site risks
§ The
with transit exposures.
COP’s flexible rating procedure, filed and
§ The
approved in all states, provides a systematic way
to rate each risk.
For each major coverage part the COP manual
provides a deficiency point rating methodology
underwriters can use to build upon loss loads to
reflect relevant risk characteristics.
Key Features of the COP
perils building and business personal
§ Open
property coverage
for buildings under construction
§ Coverage
between blanket or scheduled coverage,
§ Aorchoice
a combination of the two
income, equipment breakdown, and
§ Business
spoilage options
for mobile equipment throughout the
§ Coverage
coverage territory
coverage extensions and supplemental
§ Built-in
coverages for rewards, brands/labels,
consequential loss, and inventory/appraisals
inland marine coverages for accounts
§ Built-in
receivable, property in transit, property on exhibit,
sales rep samples, fine arts, and valuable papers
inland marine computer coverages for
§ Built-in
virus and hacking and for software storage
and “loss sustained” crime coverage
§ “Discovery”
options
§ “Green” coverage options.
For the right risks, the COP provides virtually an entire
property program.
Your Powerful
Product Combination
UP
AAIS Underwriting Platform
Making Output Underwriting Easier
It’s now a whole lot easier to underwrite and
rate Commercial Output policies with the AAIS
Underwriting Platform (UP), a centralized, flexible, and
cost-effective cloud-based application for managing a
company’s COP product line.
Using UP, companies save time and money on IT
work while retaining the flexibility to accept, reject, or
postpone program updates. Users can also customize
program features and rules to meet their unique
business needs.
The AAIS Underwriting Platform for COP supports
COP 2.0 for California and Oregon, as well as COP 3.0
for other states—all in one system.
What AAIS UP Does
identifies applicable COP forms for
§ Automatically
writing a specific risk
requirements for state-specific variations
§ Validates
users to upload location data
§ Allows
COP underwriting, featuring the
§ Streamlines
flexible deficiency point rating system
gaps in essential information or errors in
§ Flags
underwriting logic
a detailed quote for underwriters, and
§ Generates
a streamlined quote for agents
interface accessible from any location
§ Provides
web service integration, so agents and
§ Features
underwriters never have to leave their own policy
administration systems
IT Advantages of AAIS UP
multiple interfaces that allow a range of
§ Includes
company systems to interact with the platform
cloud-based, service-oriented architecture
§ Uses
with mobile-ready HTML5 interfaces
standards from ACORD and IAA, with
§ Leverages
on-the-fly mapping for data imports
§ Scalable and affordable for all organizations
How UP Works
and/or underwriters provide risk information
§ Agents
using the web interface or their own quoting systems
connected by web services or data exchange
are automatically provided for coverage
§ Values
extensions and supplemental coverages; defaults
can be overridden or customized
underwriter assigns and adjusts deficiency
§ An
points to develop premium
UP generates a quote derived from the risk
§ AAIS
information provided
agent or underwriter edits and documents risk
§ An
information to arrive at a more precise quote
variations are created with coverage
§ Quote
differences to provide a selection of solution options
and underwriter quote sheets are generated,
§ Agent
using templates customized with company logos
and information
accepted quote is “locked” and links are provided
§ The
to the applicable policy forms on AAISdirect
policy data is downloaded for import
§ Detailed
or automatically pushed to or pulled from your
internal system
We’re Just Getting Started
UP for the COP is the first application of the FJA
“Product Machine” to support AAIS programs. Support
for the Inland Marine Guide will be coming in Spring
2014, with more AAIS programs to follow.
Visit www.aaisonline.com/UP to learn more.
“
The COP is a great program to have when you’re
competing for prime property accounts. The best
indication of that is the number of COP users who
seek out AAIS for a COP affiliation after they’ve
changed companies.
”
Robert Guevara
VP of Inland Marine & Commercial Lines | AAIS
Products & Services
You Can Rely On...
Commercial Lines
■ Artisans & Businessowners
■ Commercial Monolines
■ Commercial Umbrella
“
The AAIS Underwriting Platform is a complete
package. Everything is contained within it, so a
user goes through the process of underwriting
a policy without having to refer back and forth
between a manual and a separate rating tool.
”
Sheila Morris
Manager of Inland Marine | AAIS
Farm & Ag
■ Agricultural Output Program
■ Ag Liability Programs
■ Farm Programs
Inland Marine
“
The Underwriting Platform provides users with an
online platform that will save our members a vast
amount of IT work and cost. From a technology
perspective, the Underwriting Platform is scalable
and affordable for all organizations.
”
Truman Esmond
VP of Customer Engagement | AAIS
■ Inland Marine Guide
■ Commercial Output Program
■ Filed Inland Marine Programs
Personal Lines
■ Homeowners & Mobile HO
■ HO By-Peril Rating Plan
■ Personal Monolines
“
The AAIS team provided a great wealth of
knowledge helping to provide feedback for the
development of the Underwriting Platform. AAIS
was easy to work with, receptive to our feedback,
and continues to foster an effective partnership
between our organizations.
Marc Dutton
CEO | FJA-US, Inc.
”
■ Personal Umbrella
■ Watercraft Programs
Services
■Actuarial
■ Governmental Affairs & Product Compliance
■ Product Implementation
■ Statistical & Data
For more information on this powerful product combo contact:
Rick Maka | Director of Marketing & Strategic Alliances
[email protected] | 800.564.AAIS ext. 222
American Association of Insurance Services | 1745 S. Naperville Road | Wheaton, IL 60189
p 800.564.AAIS | f 630.681.8356 | www.aaisonline.com

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