Stingray
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Stingray One/10 - "All you need is a browser" Stingray
 
Sleek And Simply configured, this system is designed for the small company, RRG or MGA processing one line of business in a single state.
 
As Low as: $175,000
- OR -
$6,805 per month
 
The Complete Core System
 
 
All Stingray Systems come with the three essential functions needed to run your business:
Optional Modules
 
 
 
Policy Administration
 
The Stingray System includes all of the features required to enter, bind, endorse, cancel, reinstate, renew, non-renew, and review policies. Since the Stingray System is a 100% web-based and centralized system, users have nothing to install or maintain on their computers.
 
Imagine the next time there is a critical file that someone within your organization needs access to - they simply login via the Internet and have access to everything they would have while in the office - they can even perform their job duties securely from a remote location!
 
Flexibility – built in
 
Stingray was developed to be extremely flexible - so 3rd party data, or decision making software can be incorporated anywhere within the system. For instance if you write homeowners policies and you want to get an accurate value for the home - Stingray can incorporate Marshal-Swift Boeckh Cost data in real-time during the rating process.
 
If you write automobile coverage and you want to automatically select the proper Year, Make, Model, Options, and Symbols for a vehicle you can incorporate the VIN Verification module to select the vehicle information based upon the VIN code of the vehicle - automatically and in real-time during the rating process.
 
Maybe you want to run Motor Vehicle Reports on drivers within the household before you bind the policy or automatically get the Property Protection Class for a Homeowners policy based upon the dwelling address. All of these options and many more are currently available within the Stingray System.
 
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Billing & Payment Processing
 
The Stingray Billing module allows companies to define an unlimited number of payment plans. Each billing plan can support the calculation of billing fees and premium amounts due based upon the current policy status including the calculation of future equity dates.
 
In addition the system is designed to provide complete customer, agent or CSR information about fees, endorsements, cancellations, reinstatements, future bill print dates, payment due dates, cancellation dates, when or if the plan charges late payment fees, and much more.
 
The Stingray Billing module is based upon company specific rules - so users may create different billing plans for new business or renewals, for policies that have elected to pay by credit card or ACH, for policies above or below a specified premium amount - or any other rules your company utilizes to select which payment plans will be offered to the agent or insured.
 
Stingray takes care of everything else including: printing the bills on their scheduled print dates sorted by zip code for postage reduction. Additionally, if the optional bar code and image modules are purchased, all documents are saved within the system. The Image module also affords the opton of directly emailing bills to the Insured or other Payee, further reducing postage and mailing costs.
 
The Stingray Payment processing module securely ties a 3rd party payment processing gateway to the Stingray policy processing and billing system allowing insured’s or agents to pay by ACH, EFT, Credit Card, or Electronic Check. Payments processed through the gateway are processed in real-time so you can collect and verify payments before issuing a policy and/or allow insured’s to pay their bills online.
 
Finally, since both payment processing and billing are integrated modules communication is instantaneous: if a payment is late or does not clear, the billing module can take the necessary actions such as billing a late payment fee, issuing a cancel notice, or notifying your accounting department of a potential problem - all automatically and seamlessly.
 
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Claims Administration
 
Stingray ties it all together in the Claims module. Easily confirm coverage, check policy status and coverage details, access contacts and policy database entries directly from the web. This flexibility creates a mobile and productive claims force working in the field with remote access via the ease of an Internet connection.
 
The Claims module allows for complete tracking, review, and reporting of:
 
  • Reserves
  • Payments
  • Expenses
  • Salvage
  • Subrogation
  • Losses by Peril and Sub-Peril
  • Adjuster Diary Notes
  • 1099 Tracking
  • Statutory Reporting
  • Named Catastrophe Tracking
In addition the Stingray Claims module supports Laser Printed Checks, and includes a unique word processor option that integrates standard and custom claim letters that automatically incorporate and merge claim and policy information into the letter.
 
The system support business logic generated base line reserving by peril or sub peril, automatic reserve manipulation based on pre-set business rules and facilitates the ibnr process through reporting and ad hoc modeling.
 
The Stingray Claims module was designed to handle claims by sharing data between the policy and claims modules. When a new claim is created within the claims module the Stingray System automatically verifies coverage, coverage limits, deductibles, and aggregates based upon the date of loss.
 
Working as an Adjuster Workstation, the Stingray claims module assists and directs aspects of the claims function which were previously laborious and time consuming, thereby freeing your claims staff to focus on the settlement and claims handling efficiency.
 
Finally, The Stingray Claims module was built and operates like all of the other modules in the Stingray System. Company specific rules and procedures can be built into the system visually to enforce, warn, or notify adjusters, management, policy holders, and other interested parties of issues and conditions based upon your companies specific business logic.
 
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Integrated Imaging / Barcode Document management
 
The Stingray System will automatically create a digital image of any document the system produces and store that image in a digital archive. The Stingray document imaging software also barcodes each document assigning a unique identifier to each document, and time stamping the document showing when it was produced, who produced it, and what the document contains.
 
The Stingray System can then use this coded information by reading the bardcode on the document to increase speed and efficiency in all operating units. A user can simply scan the barcode on a document and the Stingray System will instantly move the user to the proper quote, policy, or claim.
 
Go completely paperless in one easy step. Any document once digitally imaged can be sent to any valid email address, printed, faxed, or saved by users with proper rights. There is no longer a need to retrieve a paper version of a policy file if the Stingray document imaging module is in place!
 
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Workflow Management
 
Traditional workflow is defined as:
 
"The automation of a business process, in whole or part, during which documents, information or tasks are passed from one participant to another for action, according to a set of procedural rules."
 
The Stingray System allows workflow to be defined as a procedural set of rules, but because the workflow process is defined visually and can make decisions based upon user workload, system status, policy status, or any other criteria available to the rules engine.
 
The Stingray Event Oriented Adaptive Workflow allows the system to make intelligent and informed decisions of where or to whom to route work, documents, files, claims, and etc.
 
The Key Benefits of Workflow
 
  • Improved efficiency - automation of business processes result in the elimination of many unnecessary steps and delays in processing.
  • Better process control - improved management of business processes achieved through standardizing working methods and provides availability of audit trails to management.
  • Improved customer service – consistency in the processes leads to greater predictability in levels of response to customers.
  • Flexibility – software control over processes enables their re-design in line with changing business needs.
  • Business process improvement - focus on business processes leads to their streamlining and simplification.
  • Distributed work load - process rules allow for better distribution of workload among employees of the same skill levels or work functions.
 
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Reporting plus Stat & Bureau Reporting
 
Dynamic & Customizable Reports
 
The Stingray System comes with standard pre-built reports that address the needs of virtually any regulatory or reporting entity. Specific reports based upon the Line(s) of Business the Stingray System is automating are included as well.
 
Multiple Output Options - Simply select a check box and it does the rest.
 
The Stingray Reporting System produces all reports in printable formats such as:
  • PDF - Portable Document Format displayed in Free Adobe Acrobat Reader.
  • HTML - Web based format.
 
and exportable formats such as:
  • XLS - Microsoft Excel.
  • CSV - Comma Seperated Values.
  • XML – Extensible Markup Language.
 
There are a number of standard reports available with Stingray – Each company, MGA or RRG has their own specific needs and report formats and names. Some of the most commonly used reports:
 
Policy Level
  • Policy Balances
  • Policy Status
  • Insured Status
  • Individual Statement
  • Upcomming Insured Renewals
  • Renewal
  • Insured Status
  • Current Due
  • Adjustments
  • Payments Received
  • Payments Due
  • Payment Totals
 
Company Level
  • Company Commissions
  • Commission Discrepancy
  • Company Activity
  • Company Production
  • SIC Code Reporting
  • All Statements
  • Company Summary
  • Monthly Company Summary
  • Net Written
 
Accounting Department
  • Accounts Receivable
  • Bank Deposits
  • Daily Receipt
  • Refunds
  • Fees Collected
  • Taxes Collected
 
Agency Management
  • Producer Commissions
  • Unpaid Producer Commissions
  • Producer Statements Balances
  • Producer Activity
  • Producer Production
  • Producer Summary
  • Producer Ranking
  • Agency Call Report
  • Agency Account Current
  • All Agency Account Current
  • Producer Directory
  • Producer / Agent Losses
  • Producer / Agent Loss Ranking
 
Quote / Application Processing
  • Binding
  • Submissions
  • Producer Quote Submissions
  • UW Quote Submissions
  • Company Quote Submissions
  • Suspense Report
  • Daily Binding
  • Class Code Reporting
  • Activity
  • Class Code Production
 
Our optional Visual Report Builder is a tool that makes defining and accessing any report you want a breeze. The Visual Report Builder allows a user to select the data and the report criteria “visually” and then move the data elements they have selected to the print locations by using their mouse.
 
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Data Mining & Data Warehouse
 
Stingray Systems are designed to work with industry leading databases like SQL, MySQL, DB2 and any ODBC compliant database. When it comes to analyzing your data Stingray System stands head and shoulders above the rest.
 
Another analytical option is the Stingray Export Report – this advanced tool allows users to export selected data to excel and sort, filter and analyze within that powerful platform.
 
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The Line of Business Bundles
 
Every Company has specific rating and processing needs. We have bundled the most common and popular add-on services for specific lines of business and priced them competitively as a package. Additional custom features may be added.
 
Auto Bundle
  • Integrated VIN Verification Module
  • MVR, Credit, Investigation Interface
  • Comparative rater Bridge and XML exchange
Homeowner Bundle
  • Integrated Property Protection Class
  • Credit, CLUE and Investigation Interface
  • Boeckh Property Replacement Cost Interface
Commercial Bundle
  • Patriot Act Compliance – OFAC
  • Integrated Geo-Coding / Risk Concentration Analysis
  • Integrated Trans Union Credit Reporting
 
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