In today’s business environment, the pace at which companies conduct transactions gets faster and faster each year. Nowadays it’s not enough to simply have an electronic cash register and multiple queues—one must have salespersons equipped with tablets or other smart devices that are deployed at various locations throughout the building, able to check out a customer on the fly wherever they encounter him or her. When it comes to DMV reporting, whether you are an enterprising program administrator, managing general agent (MGA), or insurance carrier, your clients and thus your business demands the same level of agility to instantly rate commercial auto insurance coverage. That’s why and when you need the assistance of a qualified provider of services and systems that will connect seamlessly with the software and processes already in place in your own organization.
Providers of these commercial auto rating modules gives firms everything they need to quickly, accurate produce coverage rates, either on an Insurance Services Office (ISO) or insurance company-specific basis. The modules are capable of supporting multi-state policies and most every kind of vehicle on four wheels, including specialty vehicle types. Modules can often look up ISO territory by city and county or ZIP code, as well as offer look-up for ISO classification. From that point on, policy processing throughout the life cycle, from issuing endorsements through renewals or cancellations, and much more, is available.
These systems can integrate with DMV report data to provide even more detailed aggregation of information—and that’s a huge amount of data to contend with. Consider that the DMV is charged with keeping records for a variety of reporting periods covering various types of incidents. For example, the agency keeps records for simple collisions for three years, but will keep that information for 10 years if the collision was reported by law enforcement or a commercial vehicle or hazardous material was involved in the crash. In contrast, for certain types of moving violations committed by commercial driver’s license holders that result in specific convictions under the motor vehicle code, records are kept for 55 years.
To harness the power of all the data represented by a DMV reporting system, all it takes for you to get started is to contact a quality provider. Make the call today.