Autosure, which provides warranty and credit insurance to the New Zealand car industry, has set up a quick turnaround web-based internet policy system for car dealers and other agents for processing car warranty insurance.
The new system captures customer policy information, automatically calculates premium rates and then prints out policy documents. It also has a mechanism for uploading policy details to a back-end system.
The system replaced a manual process and has reduced turnaround time for processing new insurance proposals from around four weeks to just three days.
The electronic generation, tracking and control of policy invoices is also reducing the number of errors caused by manual processing, as well as reducing the risk of fraud. The system automatically applies underwriting, rating and dealer dispensation rules to policies. Previously this was done manually.
There has been a 5% increase in car warranty sales since the online system was installed. Autosure consulted with the car dealers throughout implementation to ensure it met the dealers’ requirements.