XL Global Services, a subsidiary of XL Group, has selected P&C Insurance Systems’s (PCIS) CompVision to support XL insurance workers’ compensation business for multiple XL carriers in all 50 states, plus Guam and Puerto Rico.
CompVision is an integrated 50-state quote, rate, policy issuance, policy administration, claims management and premium accounting system, which provides control of underwriting parameters guarantees compliance with regulatory and corporate policy standards.
Given the complex requirements, CompVision’s singular workers’ compensation focus provides a superior foundation and the flexibility to configure XL’s specific requirements.
XL’s CompVision implementation takes advantage of a PCIS developed integration layer that utilizes web services to access all of CompVision’s functionality.
With this approach, XL will be able to seamlessly access CompVision functionality from any of its front-end applications.
Consolidating all workers’ compensation business to the common CompVision platform will provide: improved IT and business operational efficiencies; significantly reduced user manual interaction to issue a policy; policy issuance in a fraction of the time currently required.
It also provides easy access from any location to current and accurate rates and information and advanced support for large deductibles, retrospectively rated policies, wraps ups and professional employment organizations (PEOs).