CompVision

CompVision supports all insurers, from start-up and regional companies to large multi-state/multi-carrier companies.

This Vision system helps you to manage your business from initial assessment to final audit. It is fully integrated, field-proven and includes full accounting functions and internal controls. Like all Vision products, CompVision is designed to be flexible, enabling user management to tailor the system to the needs of the business.

CompVision automates the entire workers' compensation processing cycle beginning with 50-state quotation, rating and policy issuance. This comprehensive software solution fully integrates accounting and reporting functions through to the ongoing management of the policy. The system fully leverages Windows, .NET and Oracle RDBMS to increase user productivity and improve customer service.

Automated Workflow and Imaging

Get paperless by using integrated document and electronic file management. Go one step further by utilizing the certified PCIS ImageRight interface for an automated workflow solution that allows: indexing and automatic task assignation to employees, and access to “policy file” in ImageRight with a mouse click in the CompVision application.

Client Management

All client information and personal data is stored in a centralized online database shared by all Vision applications. Each record is entered only once, can be associated with multiple policies and can be categorized according to your needs.

Quote, Rate and Issue

CompVision stores the rates, rules, and conditions needed to write multi-state workers' compensation coverage in all jurisdictions. System controls guarantee absolute adherence to the rules prescribed by state regulations, bureau and company filings. You have full flexibility to adapt the system to new underwriting conditions. A clearance function avoids duplicate quotes through multiple agents. The quote facility stores multiple versions of quotes, allowing binding of any version, tracking outstanding quotes and creating producer binding ratio reports. Once bound, the quote is automatically converted to a policy. The system not only handles all standard comp rating plans but also large deductibles, retrospective rating and safety group rating.

Introduce New States and Programs

Bring new specialized comp programs to market in record time (e.g. assigned risk). The system design allows users to define new business rules through online creation of product rules, rating and policy processing tables. This enables rapid introduction of new programs and new states, all without programming changes.

Policy Administration

CompVision offers rich administrative functionality that covers everything from complete endorsement processing (effective date, mid-term, pending rate change, NARD and out-of-sequence), cancellations, reinstatements and renewals, to sophisticated auditing where assignments and worksheets are automatically generated and can be viewed online.

Premium Billing and Accounting

Includes a range of billing methods for direct and agency bill, along with any number of user defined payment plans. Users may create separate invoices at policy, state, entity or location levels. Other features include suspense processing and online adjustments of cash, as well as comprehensive online accounting and management reports.

Commissions

Includes single rate, sliding scale or flat dollar amounts. Commission is automatically calculated, fed directly to a commission A/R and made available for comprehensive online premium/commission reports.

Robust Claims Module

A comprehensive claims management module is available to handle claims registration, payments, reserves, claims tracking, reporting and medical bill review.

Correspondence and Forms

Statistical and Financial Reporting Management

Report to NCCI electronically daily, weekly or monthly. Get a true picture of your business by viewing online management reports. Includes a variety of reports including premium analysis, commission payable and submission logs, that can be customized to fit your specific needs. CompVision is powered by Crystal Reports from BusinessObjects, the industry leader.