AVIATOR also has the capability to automatically apply the Monitored
Alarm Discount to Personal Lines homeowner’s policies. One of the most
significant discounts for homeowners in today’s market comes in the form
of a premium reduction for those policyholders who equip their homes with
security systems. State of the art monitoring stations have the ability
to detect hazards such as the presence of intruders, carbon monoxide gas
and water leaks inside the home. These alarm systems are wired to central
monitoring stations who can immediately contact police, firefighters,
or the homeowners themselves.
The advantages of a home security system
are primarily financial although it provides the policyholder with security
and peace of mind, whether at home or away. Developing close ties to your
neighbors can also provide a sense of comfort. If you are considering
a monitored security system, contact your homeowner's insurance company
for a possible homeowner's policy discount. While a security system may
benefit you financially through insurance discounts, it can also provide
the peace of mind to know your home is properly defended against burglary,
fire or other hazards. Insurers routinely give a policy discount for
homes equipped with a centrally monitored burglar and fire alarm system.
Informing your homeowner's insurance company that you have certain security
measures in place can save the policyholder up to 20% on your homeowner's
policy.
Central Home Monitoring System
AVIATOR electronically provides proof of active
service
effectively removing paper from the process.
How We Can Help.......
AVIATOR vastly
improves the current discount application process. Presently, the policyholder
must annually submit proof of the active monitoring service by providing the
insurance company with a current bill or invoice. AVIATOR electronically provides
proof of the active service and effectively removes the paper from the process.
Our method provides convenience for the policyholder by eliminating the annual
documentation requirement. The insurance company realizes administrative cost
reductions by no longer having to review, image and index the paper documentation
currently used to validate the discount. The insurance company can additionally
reduce premium leakage by negating the submission of fraudulent documentation.
The alarm companies can employ AVIATOR as an enhanced marketing tool while also
reducing its administrative costs from providing paper proof of the active monitoring
service.
Our Capabilities For The Insurer.......
PRR’s system AVIATOR coupled with PRR services enables the elimination
of proof of the active alarm monitoring services providing substantial
savings over current back office processes used to validate the Monitored
Alarm Discount. Additional benefits include:
Fraudulent proof of
eligibility is eliminated; reducing “premium leakage” by insuring
only those policyholders who qualify receive the discount (a PRR
Service Level Agreement)
Easy to use for any
distribution channel
Elimination of follow-up
correspondence among the policyholder, distributor and the insurance
company when the proof of the active alarm monitoring services is
not submitted for timely processing
Subsequent Monitoring
Alarm verification synchronized with policy renewal dates
An automated transaction
to update your policy administration system
Our Capabilities For The Consumer.......
The monitored alarm system provides the
deepest premium discount for the homeowner, up to 20% of the annual policy
premium.
Security companies offer a host of options, including protection against burglary,
fire and carbon monoxide, as well as medical and mobile monitoring.
There are two basic choices in security systems. Monitored systems contact your
monitoring company by telephone when activated. The monitoring company then
dispatches the police, fire department, or other emergency personnel to your
home. However, the drawbacks could be quite serious, depending on the situation.
The monitored system uses your telephone line to notify emergency personnel.
That means your phone line is in use, and you need a secondary phone line or
a cellular phone to call for additional help. So if an intruder cuts your telephone
line before entering your home, the advantages of a monitored system are lost.
Also, in case of a false alarm, the police department may charge you for a making
an unnecessary trip to your home.
Some monitoring companies sell their security systems, but do not act as the
monitoring company. They may subcontract with another monitoring firm, who will
handle this. You can find a secure monitoring company on your own, but if your
company has an Underwriter's Laboratory rating, you can trust that they are
secure.
Unmonitored systems have advantages and disadvantages as well. An unmonitored
system usually has an audible alarm and possibly flashing lights, which notify
neighbors the security of your home has been breached. This, however, poses
a problem: you must rely on your neighbors to take action if they see or hear
your alarm system activated. Your neighbors may not be at home when you need
assistance, or they may not want to get involved. Consider initiating a neighborhood
watch program and having social functions in your community, so you can all
become involved in protecting one another's safety.
AVIATOR verifies the Monitored Alarm Discount information
for insurance companies.Insurance customers will
only need to submit active home alarm monitoring documentation ONCE. AVIATOR
then provides updates to the renewal process, saving the consumer the hassle
of continuously submitting proof of the active service in the form of bills
or invoices to qualify
for the substantial Monitored Alarm Discounts. The process is automated, eliminating the need for a continuous
paper trail prepared by the policyholder and verified by the insurer.
Transacting business between homeowner and insurer becomes that much easier.
