Evalscore®'s proposed Commercial Insurance Real Time Interactive Credential System

Insurance Sector

Today’s commercial insurance industry operates on a daily basis utilizing experience modification factors on customers that reflect dated processes. The fact is that current systems for recording and accessing loss history are insufficient. Furthermore, these methods impair the distribution process as insurance agents and brokers regularly need a ridiculous number of authorizations to be signed in order to even give a client a commercial insurance quote. It is not uncommon for some cases to require numerous individual authorizations for loss history disclosure only to be manually manipulated by several insurers. This is an incredible financial burden on the industry. With a standardized system of performance disclosure, insurance companies, agents and brokers could rate and issue policies instantly based on prior loss and insurance payment history — aggregated, scored and analyzed in real time.

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How can Evalscore® help insurance companies, agents and brokers greatly increase efficiencies?

  • Increases operational efficiencies by providing real- time underwriting through a patent protected InsureScore® C.L.A.I.M. Index®
  • Provides historical loss history of insured’s Insurance Performance Index® based upon real time calculations of earned premium vs. incurred losses aggregated and scored for easy interpretation.
  • Instills insured accountability through behavior modification, increasing claim consciousness thus reducing claims costs
  • Provides real-time, aggregated performance indicators through a patent protected Insurance Payment Index® (IPI®) system consisting of historical notices of cancellations, re-instatements, cancellations, non-renewals, outstanding audits, endorsements etc. for additional loss predictability