INTERFACE

Only Paulmar-certified professionals are permitted to use the Paulmar premium accounting and solvency management technology. They may be either employed by the client-agency (in-house) or outsourced.

Point of Contact

Insurance premium management (IPM) service is performed on the agency premises. All data files are maintained on the user’s computer. The agency personnel provide the necessary source documents to IPM professionals for data input and will receive them back after data input is complete. An interface procedure between the agency and IPM professionals will be in place so that the flow of source documents is properly managed.

IPM professionals will have a single point of contact (SPOC) in the agency. The SPOC will coordinate and monitor the flow of source documents.

The SPOC is also required to participate in the decision making process after consulting with agency’s senior management if necessary. The following is a sample of management decisions a SPOC will be required to participate in:

  • Mail or put on hold notices of intent to cancel a policy for nonpayment of premium;
  • Remit or put on hold a premium remittance when agency disputes it;
  • Decide the amount of earned commissions to be deposited in the agency’s commission reserve fund, if necessary;
  • Review and approve remittance check vouchers;
  • Review and approve commission transfer memos;
  • Review and approve return premium credit or refund check vouchers.

IPM Professionals

Outsourced IPM professionals go to client-agencies as many times a week as necessary to keep the work current. One professional will have the ability to perform IPM services in two or more small agencies. In large brokerage firms one or more professionals may have to work full time on the firm’s premises.

Client-agencies will provide outsourced IPM professionals workspace and access to a telephone, fax machine, and copier.

In-house IPM professionals will perform the IPM functions using the same procedures outsourced IPM professionals do. They will also work with a SPOC in matters related to premium funds management.

Accountability

Whether in-house or outsourced, IPM professionals will be technically accountable to Paulmar for operating the software application in accordance with Paulmar standard operating procedures. Paulmar retains the right to disqualify any IPM professional who violates these procedures.

 

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