WaterStreet

The WaterStreet P&C Insurance Suite is a solution designed to streamline policy administration processes for insurance carriers, Managing General Agents (MGAs), and Mutual Insurance Companies. According to the vendor, this software enables businesses of all sizes to effectively manage the entire policy lifecycle, from quote to issue, rating to underwriting rules. With its user-friendly interface and customizable features, WaterStreet aims to cater to the unique needs of each organization within the insurance industry.

Key Features

Policy Administration: The WaterStreet P&C Insurance Suite offers an integrated policy administration system that includes billing, claims administration, and document management. According to the vendor, businesses can efficiently manage the entire lifecycle of all product lines from a single platform.

Reporting & Analytics: According to the vendor, WaterStreet provides a built-in business intelligence platform that offers data-driven business insights. Its data model, specifically designed for P&C insurance, aims to ensure accurate and comprehensive analytics. Users can visualize important data and share actionable insights with their team through clean, coherent, and interactive visuals.

Insured Portal: The fully branded and white-labeled policyholder portal, included with the Policy Administration Suite, aims to enhance customer service and engagement. According to the vendor, insureds can access and update policy details, schedule online payments, and receive notifications, improving their overall experience.

Claims Administration: WaterStreet aims to streamline the end-to-end claims process within one solution. According to the vendor, users can log the First Notice of Loss, collect associated documents, identify urgent claims, and detect fraud. The system aims to ensure efficiency while managing high volumes of claims without sacrificing quality of service.

Billing & Accounting: According to the vendor, WaterStreet seamlessly integrates with payment processing and premium accounting, providing a complete billing and accounting solution for P&C insurance. It aims to efficiently manage payment processing, premium accounting, and ensure accurate and compliant regulatory reporting.

API Toolkit: WaterStreet offers a RESTful API that allows connection to third-party solutions. According to the vendor, this toolkit enables users to customize and extend the functionality of the WaterStreet PAS, ensuring interoperability and integration across systems and services.

Business Process Automation: WaterStreet aims to improve daily workflows for various departments by automating repetitive and time-consuming tasks. According to the vendor, it provides configurable rules for underwriting, claims, and customer service, aiming to minimize bottlenecks and enhance efficiency while reducing manual effort.

Imbedded Workflow Analytics: According to the vendor, WaterStreet's imbedded workflow analytics allow users to track workflow issues and inefficiencies to improve workflow processes. This feature aims to unite all team members within one policy administration system, promoting collaboration and streamlining operations.

Built-in Billing and Accounting: The WaterStreet P&C Insurance Suite is fully integrated with Claims and Policy Administration, offering a comprehensive solution for payment processing, premium accounting, regulatory reporting, and document management.

Digital Engagement for Your Customers: WaterStreet provides a fully branded and white-labeled policyholder portal, enabling insureds to access and update policy details, make online payments, and engage through various channels, aiming to enhance their digital experience.