Risk Profile Services
What is a risk profile?
Insureds and 3rd parties need a way to define their insurance needs. But more than just define needs; this definition must be able to “talk” with 3rd parties and insurance carriers. This is a risk profile – a definition of insurance needs that can be shared and compared with all 4 parties in the insurance ecosystem.
GAPro is the nexus of:
- Insurance Carriers – Policy information from insurance carriers that contains current and accurate data and status of the policy is made available to agents, insureds and authorized 3rd parties
- Agents – Using Insureds risk profiles, GAPro alerts agents when policies issued by insurance carriers do not comply with their client’s needs. GAPro also alerts agents when 3rd party risk profiles are in conflict with either the insurance policy or Insureds risk profile.
- Insureds – Enter and maintain their insurance needs via Insureds risk profiles. Agents are communicated with whenever there is a conflict with insurance policies or 3rd party risk profiles.
- 3rd Parties – Enter and maintain their insurance needs via 3rd Party risk profiles. Agents are communicated with whenever there is a conflict with insurance policies or insured risk profiles. GAPro does not rely on people receiving printed information and then transcribing it. As policy information arrives at GAPro, it becomes available for immediate, real time verification and
- Correct policy information including dates, coverages, limits/deductibles and forms
- Certificate/Proof-of-Insurance requirements are compared automatically with 3rd party requirements, verifying correct coverage, limits/deductibles and forms are employed
- All policy actions initiate data verification, ensuring standardization, efficiency and compliance for all 4 dimensions of the insurance ecosystem GAPro takes appropriate action to notify all affected parties when policy actions take place. GAPro also updates its dashboards based on new policy data.