GAPro University – More Power 3

The Power 3

trifecta

Profitability

Standardization + Efficiency + Compliance = Profitability

An Uphill Battle
Standardization in managing insurance compliance between/among stakeholders is a virtually impossible, uphill battle when it comes to the Certificate/Proof-of-Insurance. Today there are precious few incentives to follow or enforce standards when creating a Certificate/Proof-of-Insurance. 

Standardization – Misconception
Since they are perceived as a drain on precious resources and time, generating no income, Certificate/Proof-of-Insurance tasks are relegated to the least experienced/low-cost resources. Perhaps the greatest problem and exposure throughout the Certificate/Proof-of-Insurance lifecycle is creation and follow-up employing standards. ​​

GAPro – Standardization as a Natural Byproduct
As GAPro employs policy data, approved forms and procedures throughout the entire Certificate/Proof-of-Insurance process, enforcing standards can be a natural byproduct of requesting, follow-up and fulfillment. Standards administration includes usage of policy limits, policy language, forms and unique regulatory and 3rd party requirements. And since GAPro includes all participants, actions and workflow, dashboards reflect current activities while key performance measurements/indicators are captured and reported. All this happens as a natural byproduct, not requiring any additional effort or cost.

Streamlined Process
Through GAPro, the once inefficiency riddled Certificate/Proof-of-Insurance process will fundamentally be changed and streamlined. By marrying direct policy data access and an insurance enabled cloud platform, all 4 dimensions of the insurance information ecosystem will be empowered to self-serve their Certificate/Proof-of-Insurance needs. As the policy changes, all involved parties will be appropriately notified electronically and appropriate workflows established, monitored and reported.

Cloud Driven Data Modelbr /> GAPro replaces today’s wasteful and numerous disconnected tasks and handoffs with an efficient and cloud driven data model, workflow and communication. Paper forms and faxes are replaced with instantaneous information and communication. Uncertainty about all Certificate/Proof-of-Insurance requests and requirements are transformed into immediate information, communication and follow-up.

Straight-Through-Processing Certificate/Proof-of-Insurance
By instituting insurance based standards and workflow, guesswork and wasteful tasks are eliminated via GAPro’s Straight-Through-Processing Certificate/Proof-of-Insurance capabilities. GAPro will automatically ensure that the right information reaches all required organizations and people. GAPro will “push” information out for follow-up, eliminating inefficient duplication and wasted effort

Mind-numbing Maze of Legislation or Regulatory Requirements
Compliance has emerged as an increasingly costly and critical imperative within the P&C ecosystem. Compliance starts with the mind-numbing maze of federal, state and local legislation or regulatory requirements. To this you add line of business and company specific prerequisites. Once you finally fold in 3rd party specific conditions, everyone is confused and frustrated at the complexity and cost to address this legitimate business need. All 4 dimensions of the insurance information ecosystem (insurance companies, agencies, insured and 3rd parties.) are seeking ways to transform the burden of regulations and compliance into a competitive advantage.

Extending Direct Access Across All Dimensions
By placing all 4 dimensions of the insurance information ecosystem on the GAPro cloud platform, compliance with policy language, insurance regulations and 3rd party requirements can be brought together in a single place for the first time. Conflicting requirements are identified and addressed once and for all, allowing compliance needs can be met under throughout the Certificate/Proof-of-Insurance lifetime.

Unique Insurance Needs By Industry
By extending direct access to policy holders and 3rd parties, everyone can be looking at the same information at the same time, working together towards a quick and efficient resolution. GAPro takes this insurance industry-wide approach and then gives it a unique focus for individual industries based on their specific needs. GAPro addresses industry-unique needs (truckers, commercial real estate, franchisees, lending institutions, etc.) through configuration and the cloud, offering a single Platform-as-a-Service solution, driving down cost while raising profitability. GAPro brings a unique, industry approach and solution to the Certificate/Proof-of-Insurance dilemma that has plagued the industry for so long.