Developing a new insurance product is an involved process. Inside the shop, it requires managing collaboration among the marketing and legal departments and incorporating the comments of multiple reviewers.
Next, the product has to be filed in various states, and someone has to track approvals and make sure that any state-mandated changes get incorporated into the contracts.
With specialized software for managing internal collaboration and filing products electronically through the National Association of Insurance Commissioners' System for Electronic Rate and Form Filings–SERFF–product development and approval goes faster and more smoothly, with greatly reduced risk of error.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
