Key Takeaways
- Manual compliance reviews typically sample only 5-10% of contracts
- Automated checking validates 100% of placements against configured rules
- Real-time flagging catches violations before binding, not after
- Audit trails document every compliance check for regulatory examination
- Guideline updates propagate instantly across all future reviews
- Exception workflows route flagged items to appropriate approvers
- Compliance dashboards provide portfolio-level visibility
What Ultrassure Does
- Validates contracts against configurable underwriting guidelines
- Checks regulatory requirements by jurisdiction and line of business
- Flags prohibited clauses, missing required language, and limit violations
- Creates audit trails for every compliance check with timestamps
- Provides compliance dashboards showing violation trends and resolution rates
Frequently Asked Questions
What types of compliance rules can be configured?
Rules include limit thresholds, prohibited risks, required clauses, territorial restrictions, rate adequacy checks, and combination restrictions. Rules can vary by line of business, territory, producer, and risk characteristics.
How are compliance violations handled?
Violations trigger configurable workflows — blocking bind, requiring approval, or logging for review. Severity levels (hard stop, warning, informational) determine workflow routing and escalation.
Can I check compliance retroactively?
Yes. Run existing portfolios against current or historical guidelines to identify non-compliant placements. This supports remediation efforts, audit preparation, and guideline refinement.
How do I keep guidelines current?
Guidelines are managed in a centralized library. Updates take effect immediately for new submissions. Version history tracks what rules applied at each point in time for audit purposes.
What regulatory requirements can be checked?
The system validates state-mandated provisions, surplus lines requirements, admitted market rules, and international regulatory requirements. Custom regulatory rule sets can be configured for specific jurisdictions.
How does this integrate with underwriting workflows?
Compliance checks run automatically during submission intake, quote preparation, and bind processing. Results display inline in underwriting workbenches and can gate workflow progression.
What reports are available for compliance teams?
Reports include violation trends, exception approval rates, guideline coverage gaps, and audit-ready compliance certificates. Dashboards show real-time portfolio compliance status.
How does this reduce E&O exposure?
By catching compliance issues before binding, automated checking reduces policy misdelivery, coverage gaps, and unauthorized placements. Audit trails document due diligence for defense purposes.