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Regulatory Administration Platform for Insurance Data (RAPID)

Regulatory Administration Platform for Insurance Data

The Regulatory Administration Platform for Insurance Data (RAPID) is the web portal used by stamping offices and regulators to review, manage, and audit surplus lines policy data submitted by agents.

RAPID features include the following:

Secure Login

Access for staff to review, analyze, and audit policy and premium data submitted by agents, policyholders, and insurers

Users and Security

Create user accounts for staff and manage their level of access to the system

Policy Search

Search and review transactions submitted by agents and insurers

Transactions in Question (TIQs)

System identified transactions submitted by agents or policyholders that do not meet one or more of the state-specified business rules

Assessment Manager

Manage tax, fee, and assessment schedules, including applicable lines of coverage

Industry Managers

Manage agent, agency, and insurer data; assign credentials for agents and insurers to access SLIP

Document Manager

Send agents and insurers important messages or documents to their SLIP Inbox; email notifications also available

Detailed Reporting

Access to numerous reports including transaction data, premium data, invoicing, affidavits, late filings, and lines of coverage

Accounting Integration

System can integrate with a variety of accounting software packages to streamline the invoicing and payment processes

Compliance Review

Module in RAPID allowing the periodic, scheduled review of all licensees to ensure regulatory and financial compliance

Premium Reconciliation

Module in RAPID that systematically compares agent/policyholder and insurer data and identifies variances in the premiums reported