CHSI Technologies: All-In-One Insurance Management for Small Businesses

CIO VendorLee Mashore, Chief Product Officer
When it comes to the insurance market, smaller firms receiving less than 250 million dollars premium tend to have manual processes in place due to lack of technical expertise. Most often, these firms do not even have an internal IT team and rely on outsourced IT resources for their technical needs. The lack of IT expertise limits their capabilities to time-consuming and error-prone manual tasks. “Having less access to sophisticated resources doesn’t make a small firm any less of an insurance company. Even a company receiving 10 million dollar premium has to operate in the same manner as does a large insurance firm,” says Lee Mashore, Chief Product Officer of CHSI Technologies. Bringing efficiencies to small insurance companies, CHSI Technologies offers advanced solutions for policyholder management, premium billing as well as portals for policyholders. "Our focus is on becoming the defacto technology arm for smaller firms to help them grow and compete with larger organizations,” he adds.

The company’s CHSI Connections is a full suite policy administration system that includes all functions such as CRM, underwriting, billing, claims management, analytics, and broker & policyholder portals. Tailor made to fit the unique needs of small businesses, Connections is a cloud-based solution that provides the right tools to employees for replacing manual processes with automation. The systems’ rule-based multi-state underwriting module automates the collection of data and creation of endorsements, audits, and renewals while providing customizations to all outbound documents. “By providing the right tools, we can increase the productivity of employees by as much as one and a half times,” remarks Mashore. Besides, Connections' billing module provides premium and contribution billing reports. “We can manage all the premium components for our clients including earnings reports and cancellations that are essential for maintaining cash flow and adequacy to ensure their business is moving in the right direction.”

Our focus is on becoming the defacto technology arm for smaller firms to help them grow and compete with larger organizations

CHSI’s Connections also meets industry security standards to ensure the security of client data.

In one instance, Utah Business Insurance Company (UBIC) required improving its workflow and efficiencies to maximize its ability to provide exemplary service to both its independent agents and its customers. By implementing CHSI’s Connections platform, UBIC was able to shape its modernization efforts. Leveraging the configurability of Connections’ underwriting and billing modules, UBIC was able to ensure customized communications. Similarly, Connections offered the safety and security of the Microsoft Azure cloud platform and ensured greater efficiencies. “Some companies are less transparent, but CHSI is very open with the data, so I can extract all kinds of reports, do it on my own and control the output,” says Tyler Nielsen, VP of Operations at UBIC.

CHSI Technologies has recently rolled out new technological tools allowing clients to reach their customers more responsively and quickly through a front-end marketing website that is controlled by the carrier in the back end. "Keeping in mind today's millennial buyer who is moving towards a more direct approach to insurance companies rather than using a broker, we have designed a new toolset that empowers carriers to provide ease of access to their customers,” says Mashore. Most buyers prefer doing the research themselves before making a purchase decision. With CHSI's new toolset, buyers can purchase insurance coverage of their choice without filling out a bunch of forms in a quick and easy manner. Similarly, the company’s next big focus is on moving towards providing claims administration for worker compensation claims. CHSI is also looking at leveraging AI and predictive modeling for underwriting and policy administration to improve efficiencies for clients.