BUFFALO, NY, August 15, 2019
Utilant, the developer of the insurance industry’s premier loss control survey management platform, recently unveiled their new Premium Audit Product Suite for Workers Compensation and General Liability insurance as part of the Loss Control 360 software platform.
Utilant’s Loss Control 360 Premium Audit functionality enables auditors to instantly capture relevant and accurate data regarding exposures. Utilant collaborated with a market leader – that performs hundreds of thousands of audits annually – to validate the functionality and ensure that the auditing functions included in Loss Control 360 would exceed the capabilities of other competitive tools.
“Utilant’s Premium Audit Product Suite enables the Loss Control 360 platform to service customers with new lines of business beyond traditional Loss Control,” said Ben Holub, Vice President of Product at Utilant. “Loss Control 360 now addresses a broader market, bringing “best-in-class” functionality to the Insurer’s full book of business.”
The Premium Audit Product Suite identifies policies that need an audit by utilizing a rules engine, which is the most robust and configurable on the market, to determine eligibility. Once policies are identified, the system determines whether a virtual or physical audit is required by evaluating the risk’s characteristics and then routes to either the auditor, a call center or the Insured for completion. Audit data is then captured through a 50 State compliant audit form that accepts input from clients or auditors from a browser or an offline capable app for iOS, Android or Windows.
Carriers gain greater assurance that appropriate premiums are paid by automating the collection and examination of data to establish the actual exposure and validate the classification codes and rates used in determining the final premium.
“Forward-thinking loss control and audit professionals need access to technologies that enable them to automate decisions and collect the most accurate data possible,” said Pat Davis, CEO at Utilant. “Utliant is committed to making modern intelligent loss control technology accessible for more lines of business to the global insurance market.”
About Utilant and Loss Control 360
Utilant’s Loss Control 360 is the “best-in-class” Loss Control Survey Management Platform for P&C insurance and inspection/risk engineering companies, establishing its position as the hub for connecting insurance core systems, inspection firms, and InsurTechs to comprehensively transform the global insurance industry workflow. The solution supports Commercial, Personal, and Specialty lines, and is deployed via a SaaS model. Utilant’s Loss Control 360 platform is used by leading Insurers around the world, as well as by top inspection vendor survey companies across North America. The Loss Control 360 platform helps Insurers to efficiently survey and score risks for an efficient underwriting process across all lines of commercial and residential business. A typical implementation provides positive ROI within the first year. More information on Utilant and Loss Control 360 is available at www.utilant.com and www.losscontrol360.com.