It will also automatically include any relevant endorsements and warranties applicable to that risk, as dictated by the Insurer’s instructions.

The documents are clear and easy for the client to read and understand and have been designed to provide the client with full information, in keeping with current and future FSA industry standards.

All quotations that are accepted by the software can be stored on the system to enable the user to retrieve at a later date, whether it is for viewing purposes or to amend or re-quote the terms.

The broker cannot see quotation letter, proposal, schedule and other documentation ‘on screen’ which are fundamental to the process to bind and which are uneditable. These documents are printed directly in the brokers office on their local printer.

Quotations are only valid for 30 days from date of quote.

The system also allows and produces all the documentation for NTU’s and mid-term adjustments.

Data Security:

The Software calculates quotations, produces documentation and compiles the bordereau and is sophisticatedly encrypted to prevent changes. Its other fundamental function is to save the data that has been worked on for the broker’s and the Insurer’s future reference and to provide Generation with a concrete record of the Risks bound. All data is saved from the moment of quotation and the Software records all subsequent actions relating to the Risk. A full history of each and every risk is maintained

To remind the broker to ‘Back-up’ the Software is programmed with a ‘wizard’ that automates the process for them.

System Processes

Automatic Bordereau Accounting:

When the Software accepts a risk and the client agrees to the quotation it has generated the broker has the authority to place the client on cover.

By doing so the Software records the Risk and automatically adds it to a bordereau that it compiles and then automatically sent to Generation on the 5th of the month.

Underwriting Up-dates:

Software up-dates will be automatically be Downloaded and installed by the system when changes to underwriting criteria or pricing are requested by the Insurers.

User Registration Authority:

For authority to use Generation Software for commercial purposes to bind insurance business, by using the office based software solution, the user must apply to Generation to become an authorised Registered User.

Without this registration the user has no authority to bind cover. To apply, please click here.

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