Statement of Values (SOV) Consumption
SOV records can be viewed and processed through OWIT's Digitalization for Insurance Enterprise Management (O/DIEM) Point of Sale (POS)/Submission Management Solution - where they can be re-validated and rated. All records are accumulated based on rules, and multiple output bordereaux file formats are produced by Insurance Data Management (IDM) for external consumption.
IDM, combined with the POS/Submission Management Solution provides the following:
- Support for location add/delete endorsements
- Support for Underwriter Referrals for all other post-bind transactions
- Support for SOV upload and internal users support with override capabilities subject to authority levels
- Support for Policy Issuance. The population of Policy data to the Declarations page and all forms with variable text
- Automation for third-party data integrations to populate Policy data to other systems
- Ability to manually enter submission data with up multiple locations
- Ability to tailor Underwriting questions
- Ability to rate a quote through multiple underwriting carriers' rating algorithms using the O/DIEM Rating Solution
- Ability to generate a Quote and/or Binder document
- Ability to generate a Bordereaux Output dataset for Bound policy transactions
- Support for multiple sets of underwriting/rating/document/permission data sets to support individual carrier program requirements
- Ability to accept and process a rating request
- Ability to generate a complex Quote, Binder documents matching carrier requirements
