WHAT WE DO
Program Design or Review
Design:
Your good idea is a good place to start and we know putting all the pieces together can be overwhelming. Sproutr can design, build, and deliver the “insurancy” aspects needed to move you forward.
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Review:
Understanding that a go-to-market strategy might be a thinner version of your ultimate vision, Sproutr can help define or refine a progressive insurance program roadmap to credibly position you with your target carrier & reinsurance audiences.
Business RequirementsÂ
Translating your insurance product into a set of rules to guide implementation managers, engineers, and tech product managers is an essential step into running an automated underwriting workbench. Working with your policy administration provider and tech-stack advisors, Sproutr is ready to pen the requirements using flexible frameworks to minimize future build and update efforts.
Underwriting Guidelines
Developing an underwriting appetite to reflect your intended outcome is influenced by a myriad of factors including your customer engagement strategy, use of data, geography, competitor products, among others.
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Sproutr can draft your underwriting guidelines by program, coverage part, classification, or exposure ensuring guardrails support growth and align to your profitability objectives.
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Let us advise and provide alternative approaches to your existing guidelines for accountability and action-ability, and where appropriate, incorporate alternative methods of validation, and use of third-party data, where applicable.
Policy Administration System Evaluation
Using your product, rule, rate, and form architecture or one we create together; Sproutr can be your insurance subject matter expert when evaluating a systems' ability to support your insurance program/product.
Product Design and Development
Insurance product design and development is our passion and at the heart of insurance. We can take your concept and author language that aligns with your vision or a product response we create together.
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We create (author) the insurance coverages that express your vision; we work with a “right-size” approach to the coverage solution, enhancements, restrictions, and additional features.
In some cases working within the department of insurances' requirements will require you to file your product before you can sell it. Sproutr will liaise with your selected filing vendor to establish a plan supporting your go-to-market strategy and launch goals.
Underwriting Audits
Akin to how a third-party performing a financial audit protects the client company from internal deficiencies threatening the financial practices of an organization, a similar threat exists when underwriting departments perform self-audits on written policies.
Whether as a one-time review, or as a part of your compliance plan, Sproutr can provide an objective view of your underwriting workflow, risk eligibility assessment, compliance with rating plans, and coverage form utilization, raising opportunities for additional staff training, product updates, or quote-flow question-set redesign.
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