BriteCore RFI

Solution Overview

Our flagship application and policy administration system, BriteCore, was established in 2009 when a group of mutuals partnered with Intuitive Web Solutions (IWS) to build an advanced property casualty administration system for small and mid-sized carriers. Today, BriteCore is an award-winning policy administration suite powered by the most advanced technology in the insurance industry. Our team adds hundreds of custom and community features to the software each year in order to meet the ever-changing needs of carriers, agents, and insureds.

Questionnaire

  1. What is the name of your company's solution?

    BriteCore

  2. When was your solution first released?

    July 1, 2010

  3. When was your solution was last re-architected?

    2014

  4. Provide a general overview of your solution.

    BriteCore offers the best value in insurance software. Built using modern technology, our product suite has the flexibility to help your company grow and adapt to the ever-changing landscape of insurance and technology. We provide solutions to carry out your company’s strategic goals through automation support and value-added services.

    Over the past five years, many carriers have partnered with us to strengthen their core business. We have improved operational efficiency, ease of doing business, and expense ratios for a wide range of companies. We partner closely with clients to replace core systems and technologies with modern cloud-based solutions.

    Our goal is to bring every client fully into the 21st century with industry-leading automation, access, scalability, security, and disaster recovery.

  5. What components are included with your system?

    BriteCore is an all-in-one insurance processing system that offers many of the tools and services necessary to manage a property casualty insurance company. Built using the latest cloud-based technologies, BriteCore supports highly flexible configurations for personal, commercial, and specialty lines of business. BriteCore allows insurance carriers to efficiently manage their daily operations from any device or location that has internet access. BriteCore offers broad flexibility through a wide range of settings embedded throughout the product suite. It's well designed to improve operations through automation support, ease of use, and progressive workflows.

    Due to a high volume of participation and access to community resources and client funding, our product suite is evolving rapidly. Today, BriteCore offers broad flexibility through a range of services:

    • Policy administration

      Speed to market and operational efficiencies are key advantages for progressive insurance carriers. To grow your business, you need a policy administration system that streamlines your processes and controls your costs. BriteCore offers a fully automated policy administration system that allows you to manage products and policies through a flexible workflow. Our Policy Administration module supports highly flexible configuration for personal, commercial, and specialty lines of business.

    • Lines of Business

      BriteCore allows you to define rules and rates through the Lines module. The Lines module is where the fully editable nature of BriteCore truly shines. In this module, users are able to build and edit their own coverages, endorsements, underwriting rules, rates, and forms from the ground up through a simple point and click interface that’s geared toward business users. The Lines Module is fully versioned by date, allowing you to update rates and forms in advance and review prior Lines configurations.

      • Underwriting Rules

        BriteCore can be configured with advanced Underwriting Rules that allow clients to enforce underwriting guidelines based on user input during the quoting and application process. Underwriting Rules can also be triggered by automatic lookup information such as property location or loss history. Once triggered, a rule can automatically change the availability of coverage options by enforcing hard stops or limiting binding authority.

      • Rating

        Rating in BriteCore follows a clear and concise process that provides access to both manual and automated rating variables. We support flat rates, rate pers, table-based rates, and factor based rates that can all be tied to user-entered or lookup data. We also provide powerful bulk editing tools that can apply rate changes in a few clicks. Additionally, BriteCore allows you to copy all of your existing rules and rates with the click of a button, make changes, and then set a future effective date for your new rates. When the date arrives, your agents automatically see the updates in the quoting system and all of your billing and print deliverables reflect your changes. This dramatically reduces the time needed to plan and execute rate changes and deploy new lines of business. Our clients spend hours, not months, setting up rate changes and deploying new lines.

    • Claims

      Designed with an easy-to-use graphical interface, the Claims module is equipped with powerful features that can greatly improve the speed and efficiency of the claims process. In this module, agents and adjusters have the ability to work collaboratively in order to establish reserves, issue payments, and upload reports. Furthermore, the 24/7 access to secured, controlled, online claims information ensures your employees have everything they need to effectively manage losses from open to close.

    • Reporting

      BriteCore’s reporting module provides carriers with the operational insight needed to finely-tune their business and stand out from the competition.

      • Standard

        We offer a solid base of over 50 standard NAIC based reports for managerial analysis and statutory accounting compliance. We consult regularly with Booke to validate the design and quality of our standard reports, and run automated system audits on a nightly basis to maintain correct, repeatable balances. Our standard reports come in a variety of formats including print ready PDFs, excel templates and spreadsheets, csv files, and flat text files. Examples of standard reports include written premium, aged accounts receivable, and market conduct activity.

      • BriteData

        Business Intelligence is a key asset to many insurance providers because it can be used as leverage during the business development, decision making, and implementation process. BriteCore offers the ultimate solution to business intelligence by giving carriers open access to their own data through robust reporting tool called BriteData. BriteData is a drag and drop business intelligence and reporting tool that’s designed for the easy retrieval of information. Insurers can then pair BriteData with Tableau to quickly perform risk analysis, advanced processing, business performance management, benchmarking, and predictive modeling.

    • Contact Management

      BriteCore is fully equipped with a contact management system that allows users to view and store contact information relevant to the individuals and organizations with which you do business. The Contacts module contains listings for all insureds, mortgagees, vendors, staff, agents, and more with instant propagation throughout each of BriteCore’s modules. When you add contacts to BriteCore, the system will pre-populate certain data entry fields in other modules using the previous information you provided in Contacts. This system-wide integration enables your users to write policies more quickly since all vital data regarding insureds, agents, and businesses is well organized and easily accessible.

    • Billing

      BriteCore features an advanced billing and accounts receivable module that works in combination with payment processing, premium accounting, reporting, and settings to manage the entire billing and payment lifecycle of a policy. This module is protected by over 18,000 automated system tests that run nightly to verify that the system is generating account balances and producing documents as expected. BriteCore’s billing currently automates and supports desired workflows for processing invoices, non-pay notices, cancellations, renewal invoices, NSFs, and reinstatements in or out of sequence. We support a wide range of billing practices such as combined billing, equity billing, and hybrid billing.

    • Imaging

      BriteCore comes with an enhanced imaging and document management system that allows you to store, search, organize, and retrieve documents efficiently in BriteCore. The Attachments module is where you’ll find all of your electronically stored items including policy documents, deliverables, photos, statements, and other uploadable files. BriteCore's Attachments are integrated with Policies, Claims, Contacts, Lines, and Reports in both the admin interface and the BriteQuote agent interface.

    • Printing

      BriteCore automatically generates all paperwork to be printed during nightly batch processing. Declarations, renewals, invoices, notices, and all other documents are created and organized without user intervention. Once nightly processing is complete, BriteCore interfaces with your printer and launch the daily print job. When you arrive in the morning everything is printed, sorted, and ready for mailing.

    • Settings

      The Settings module enables you to personalize BriteCore’s behavior. This means that the system’s preferences can be set to meet the unique needs of your business and support your process workflows. We offer settings for a wide range of processes such as billing, cancellations, printing, and commissions. Settings also provides you with the flexibility you need to establish your own brand. We have designed and implemented tools to allow you to effortlessly control your own messaging and logos on declarations, cancellation notices, billing notices, and other custom deliverables, as well as inside the Agency Portal.

    • Agent Inquiry

      Agents have access to insured policy, billing, and claims information through our online Agent Portal. This increased accessibility results in fewer questions and phone calls to the carrier. However, when an agent does have a question, they have the ability to engage your company staff in real-time using BriteCore’s Live Chat feature. With a click of a button agents can be instant contact with your underwriters. This works especially well when an insured is in the agent’s office and they have an immediate inquiry.

    • BriteQuote

      BriteCore comes with BriteQuote, a powerful web-based quoting and application system that allows agents to rate and submit business online. BriteQuote has been deployed for insurance companies all over the country and has played a key role in increasing many carrier’s total application volume. From the dashboard, agents can quickly and easily generate quotes, make payments, submit applications, and even process midterm endorsements. Automatic underwriting rules, electronic payments, credit scoring, zip code lookup, fire class assignment, and many other services are all integrated seamlessly to eliminate manual steps in your workflow. BriteQuote sets the standard for simple, powerful web-based quoting and application.

    • Vendor Integrations

      BriteCore can be extended through third party service providers that offer additional services such as credit scoring, loss history, or replacement cost estimation. We do not charge any margin or ongoing fees for third party integrations, instead opting for direct agreements between the carrier and the vendor. As such, we charge an hourly fee to initially connect the vendor services to your BriteCore instance and keep implementation costs within reason.

  6. How much does your company spend on research and development related to your solution (not including client funded projects)?

    $300,000.00

  7. How many companies are currently using your product?

    There are 31 carriers in the United States who are using BriteCore.

  8. How many companies are using the latest version or release of your product?

    All 31 companies are on the latest version of the software.

  9. How often do you relase updates to your system?

    We work in an agile development environment and release updates to our clients daily. Because of this, our development and support model delivers continuous shared value. Our clients choose our product destination, and we get them there quickly and efficiently.

  10. How many employees are currently supporting your product?

    There are currently 15 full time employees working on the development of our product and 8 full time employees providing professional services and support for our product. All of our employees and contractors are located in the U.S.