Property and Casualty Software
Property and casualty software gives large organizations, associations, government entities, and insurance companies software tools for tracking property and casualty insurance policies and related claims. Property and casualty software includes modules for tracking various types of property, including buildings, equipment, vehicles, office fixtures, and intellectual property. Property and casualty insurance programs often carry with them additional complexities that account for OCIP and excess insurance programs with multiple levels of insurance tracking for self insured retentions, insured parties, insured properties, and limits of liability. Excess insurance with flood and fire insurance policies can involve multiple insurance companies where the cost of risk is too high for a single insurance company to bear the financial burden of risk.
Property and casualty software may therefore require various forms of metrics for risk reporting which all vary by industry. Aviation property and casualty policies carry risk variables such as flight time, number of vessels, number of passengers, and weather patterns. Medical facilities would have other forms of risk such as number of patients, practicing physicians, and how risk is classified across different medical speciality practices. Custom property and casualty software reporting is a common problem to solve with large organizations who are responsible for reporting risk factors and risk allocation budgets to executive management teams, regulatory departments, requesting customers, and even the general public. Presenting property and casualty information in such a way that appeals to the requested party is of essential value to the business, and options for custom property and casualty risk reporting are among the top items when it comes to defining what’s involved with a software implementation. Reporting claims as occurred, such as theft, vandalism, or negligence can entail sensitive information being collected and transmitted to responding supervisors who are responsible for taking corrective action and notifying authorities or insurance claim adjusters.
Having the ability to collect information necessary to review the exposure of risk for an organization ultimately helps balance budget and operational costs. Property and casualty software by A1 Tracker is one method for insurance and risk reporting that’s accessible to end users with minimal training and adequate support.