PCMI has a good understanding of how the point-of-sale systems used by our TPAs and clients operate. This allows PCMI to effectively navigate through our accounting and reporting systems to support our warranty business.-- Mike Ryan, Starr Indemnity
Chicago, IL (PRWEB) June 06, 2013
PCMI Corporation said today its new modular Policy Claim and Reporting Solution (PCRS) improves the administration of consumer warranty products.
“PCRS enables insurance companies who insure service contacts/extended warranties the tools for supporting both the sale of consumer warranty products and the unique rules for earning warranty premium for both product service plans and replacement plan,” said CEO Mark Nagelvoort, PCMI’s CEO.
In addition, he said, the PCRS platform supports multiple sectors such as vehicle service contracts and other automotive aftermarket products. PCRS is the first platform to support multiple sectors on an international basis in either a browser or tablet.
These unique benefits are competitive advantages for consumer-product warranty insurers like Starr Indemnity and Liability Company, New York. “Historically, software companies serving the consumer warranty industry were only focused on warranty claims administration and lacked the tools for supporting the sale and earnings of warranty products,” said Starr Vice President Michael Ryan.
PCRS accurately earns warranty premiums, which allows Starr the ability to pinpoint the true loss ratio of each warranty contract it insures. This benefits everyone in the distribution channel of that warranty contract -- the administrator, the retailer and the consumer of that contract.
“PCMI has a good understanding of how the point-of-sale systems used by our TPAs and clients operate. This knowledge base allows PCMI to effectively navigate through our accounting and reporting systems to support our warranty business,” Ryan added
- Improves sales: Identifies the products sold, by producer, to help identify opportunities to increase sales; quickly accepts new products for expanding market offerings; adaptable to multinational use and automatically calculates for different states’ and countries’ currencies and tax logics.
- Improves claims administration: Retains margins and reduces the time to process claims; enables self-reporting and claims management; automatically obtains claim approvals.
- Improves reporting: Consolidates key reporting through a single access for insurers and agents having to represent production results for their products; mobile app puts reporting in the hands of agents and retailers for on-the-go marketing decisions.
As modular software, PCRS enables insurers and TPAs to add its specialized warranty sales, claims processing and reporting functionality at minimal upgrade costs to existing platforms. This modularity enables users to consolidate other systems’ reporting into highly readable and understandable graphic reports through PCMI to help them identify marketing and sales strengths and opportunities.
According to Nagelvoort, “This modular approach enables our customers to either adopt the entire system in phases or select a single module to extend their current systems.”
Nagelvoort, who pioneered eContracting, eRating and eRemittance technologies, has more than 25 years’ experience assisting companies in extended warranty products in the auto, consumer and home warranty sectors. Prior to forming PCMI, Nagelvoort was the president of NAT, Inc., the first dealer-to-insurer product e-gateway, acquired by DealerTrack in 2005.
With world headquarters in Chicago, IL, PCMI also serves the globe with additional offices in Krakow, Poland, and in Chiang Mai, Thailand. PCMI provides the only policy, claim and reporting solution for extended warranty sales, claims and reporting available in multiple languages.
For more contact, visit http://www.pcmicorp.com or contact Mark Nagelvoort at PCMI at 847-496-0090 Ext 100.