1. Powerful Rating Engine: Our service features a versatile rating engine that allows you to set up insurance rates with ease. You have the choice to configure rates independently through our self-service portal or rely on our NVT configuration team for assistance.


2. External Data Integration: Seamlessly integrate external data sources, including Polaris, software houses, SIRA, MyLicence, Percayso, CUE, Companies House, and more, to enhance your rating capabilities.


3. Flexible Configuration: Customise your rating rules with precision, defining decline rules, referral processes, endorsements, and supporting rules. You can also mark endorsements as chargeable for additional premium options.


4. Version Control: Effortlessly manage multiple versions of your insurance products. Export your rates with a version number, which is integrated into the IHP response and documented within policy transactions.


5. Automated Testing: Ensure the accuracy and reliability of your rates with an automated test pack that checks every aspect of your rating structure, providing results in a convenient CSV file for easy review and approval.

Our Product Build & IHP service empowers you to create and manage insurance products efficiently, integrate external data seamlessly, and maintain quality control throughout the process. Elevate your insurance offerings with our comprehensive solution.

The NVT platform covers the full policy lifecycle including temporary MTAs, Broker and Insurer Led Renewal inviting, and Policy extensions (used for short term insurance). Insurers can configure intermediary agencies with commission, and additional discounting and decline rules. Where a broker is on the NVT platform or using NVT APIs the insurer product becomes immediately available.

For each transaction type it is possible to set fees (flat fee or dynamically calculated based on premium) and chose from our predefined calculation rules. For example, Mid Term Adjustments (Old Risk / New Risk against Old Rate after discount or New risk / Old Risk against New Rate / Old Rate etc.) and Cancellations (prorata, short term with without fee, with / without claims check).

NVT supports a full set of referral processes so not only NB referral to insurer but also MTA ad Cancellation referral allowing insurers to fully control their premiums with no manual override by brokers.

All of our policy processing supports short term and multi (bundled) insurance products.

Policy Documentation Service:

At NVT, we understand the critical role that comprehensive policy documentation plays in the insurance industry. We take pride in offering a complete suite of policy documentation services tailored to your specific needs. Our services are designed to streamline the process of policy creation, ensuring your clients have access to professionally crafted, branded, and customised policy documents that reflect the uniqueness of their insurer or insurer scheme.

Customisation to Perfection:

We recognise that every insurance provider has distinct branding requirements. To accommodate these needs, our Policy Documentation service allows for an extensive level of customisation. You have the flexibility to personalise documents at both the insurer and insurer scheme levels. This includes incorporating branding elements, such as logos and specific wording, to ensure a consistent and professional look throughout your policy documents. With our help, your documents will not just meet industry standards; they will become a powerful extension of your brand identity.

Endorsements and Policy Excesses:

In addition to crafting your policy documents, our Integrated Policy Handling (IHP) service offers you endorsements wording and policy excesses. These are essential components of any insurance policy, and our team is well-equipped to provide you with expertly crafted, legally sound, and easily understandable content that seamlessly integrates with your policy documentation.

Flexibility with Document Layouts:

We understand that every insurance provider may have unique preferences for document layouts. That's why we offer the choice between using our standard, off-the-shelf layouts for each document type or creating a fully customised version from scratch. Whether you prefer the efficiency of our pre-designed templates or the distinctiveness of a tailored layout, our team is ready to meet your requirements.

1. BDX Service (Bordereaux Service):
   
   Our BDX service offers a comprehensive solution for handling your insurance and capacity provider communications. We provide a diverse selection of pre-built CSV Bordereaux, specifically designed to facilitate seamless interaction with insurers and capacity providers. These Bordereaux are invaluable tools for reporting both premium and risk data, ensuring a transparent and efficient exchange of information.
   
   Key Features:
   
   
   • Flexible Data Exchange: Our BDX service allows you to communicate in a manner that suits your preferences. Whether you want to run it manually or automate the process, we've got you covered.
   • Real-time or Batch Processing: Choose between real-time data updates for immediate results or batch processing overnight for convenience. You have the flexibility to select the timing that best aligns with your needs.
   
   
2. EDI Service (Electronic Data Interchange):
   
   Our Electronic Data Interchange (EDI) service simplifies the exchange of information between you and your partners in the insurance industry. We offer a wide range of pre-established EDI message formats for efficient premium and risk reporting to insurers and add-on suppliers.
   
   Key Features:
   
   
   • Streamlined Communication: With our EDI service, you can communicate vital data seamlessly, reducing errors & saving time.
   • Automation Options: Choose to run EDI messages manually or configure them to run automatically, based on your preferred schedule, either in real-time or through overnight batch processes.
   
   
3. MID Service (Motor Insurance Database Integration):
   
   Our MID service is designed to facilitate the updating of the Motor Insurance Database (MID) for various policy types. We offer two integration options: MID1 and MID2, ensuring that your motor insurance data remains accurate and up-to-date.
   
   Key Features:
   
   
   • Policy Data Management: Maintain precise and current policy information on the Motor Insurance Database, ensuring compliance with legal requirements and industry standards.
   • MID1 and MID2 Integration: We provide seamless integration for both MID1 and MID2, catering to diverse policy types and business needs.
   
   

Our Claims Import and Analysis service is a powerful tool that streamlines your insurance data management and empowers data-driven decision-making. Here's a concise overview of what this service offers:

1. Effortless Data Import and Linking:
   Easily import and link claims to relevant policies and policy periods.
   
   
2. Comprehensive Reporting:
   Generate detailed reports on claims movement, identify incorrect claims, and analyse claims by cost types and types derived from claims handler imports.
   
   
3. Customisable Analysis:
   Drill down into data for risk assessment and analyse transactions by various factors.
   
   
4. Flexible Data Export:
   Export transaction data for use with third-party reporting tools, simplifying report generation and analysis.
   
   
5. Scenario Analysis and Claims Cost Adjustment:
   Perform "what if" scenarios, reprice policy books, and recalculate claims costs for better financial strategies.
   
   
6. CUE EDI Data Export:
   Export claims data in compliance with industry standards for seamless data sharing.
   
   

Our platform allows you to take control of your financial transactions with ease. One of the standout features we offer is the ability to enter bank transactions, enabling you to streamline the reconciliation process for various financial aspects of your brokerage business.

With NVT's broker accounting features, you can effortlessly manage and reconcile:

1. Insurer & add on payments:
   We facilitate the efficient tracking and reconciliation of payments from insurers and any additional sources, ensuring accuracy and transparency in your financial records. This feature simplifies the process of verifying payments, helping you maintain a clear financial overview of your business.


2. Card Payments Received:
   In today's digital age, card payments are a common method of receiving funds. NVT's accounting tools allow you to seamlessly handle and reconcile card payments, reducing the likelihood of errors and discrepancies. You can easily match card transactions to your records, providing a seamless accounting experience.


3. Finance Provider Reconciliation:
   Managing relationships with finance providers is a critical aspect of insurer operations. Our platform simplifies the reconciliation of transactions with finance providers, helping you maintain a precise record of financial interactions. This feature ensures that you stay on top of your financial commitments and maintain a positive rapport with your financial partners.

This service also includes ability to produce broker statements and payment reconciliation (to bank account) to track payment. It is also possible to do the same for capacity provider and even split IPT and premium for payment to different entities.

NVT's insurer accounting features offer a robust, user-friendly solution to streamline your financial management processes. Whether you choose to integrate with your existing back office or rely on our comprehensive accounting tools, you can count on NVT to provide the support you need to maintain accurate and up-to-date financial records, ultimately enhancing the efficiency and transparency of your brokerage operations.