Written by

Jeremy Battles

June 27, 2024

Our Quarterly Newsletter - Q2 2024

Our Quarterly Newsletter - Q2 2024

Written by

Jeremy Battles

June 27, 2024

We’re Heating Up

The sun is shining bright and so are our latest features and updates. We’re thrilled to share with you all we’ve been up to this last quarter and what’s down the road as we venture into summer days. The heat isn’t slowing us down one bit—in fact the opposite is happening. Check it out:

Enhanced Project Features

FilingRamp customers do nearly 90% of their filing submission in FilingRamp. More and more of our customers want to improve their work processes by doing more than just faster filings in FilingRamp. With a significant expansion of project-related functionality, now they can:

  • Project Statuses

    • “When is a countrywide project considered closed and done?”, “How many projects are active?”,  “How many projects are at the early stages before any filings have been submitted?” These are all common questions for a company’s filings division. Now a company can set the status of a project to DRAFT, ACTIVE, or CLOSED. A user’s role can even be set up to change based on the status of a project, which ensures things like no one being able to accidentally update a project that is Closed.

  • Project and State Custom Fields

    • Before the filings are created and submitted, companies can set up a new project in Draft status and enter custom data for:

      • Projects like:  Requested company(ies), requested Effective Date, Rate Impact details, and Lead Filer/Actuary/Underwriter; or 

      • States like:  Filing law, assigned filer, and ISO circular data.

  • Once a project is set up by a manager or business partner, they can directly mention the filer(s) in the project chat section and let them know they’re ready to go!

  • Project Reporting

    • Now that companies can set the status for a project and enter all of this additional custom data for projects and states, there was an immediate need to be able to run reports on this data.

    • To solve this, we expanded the Reporting feature to include a Project section. Now companies can run reports on “All Active Projects” or “All Projects that are ISO-based = True” and pretty much everything else, project-related.

Multi-Instance SERFF API Functionality

FilingRamp was the first to offer the 2-way API functionality back in 2021. It’s now expanding its “push” functionality by letting companies submit filings and filing-related correspondence (e.g., responses) from more than 1 SERFF instance from their single FilingRamp account.

Many companies, for various reasons, need to submit fillings through different SERFF instances. Now they can do that through a single FilingRamp account.

We keep pushing the boundaries of what can be done when it comes to the filings process!

Spring Conferences Recap!

We’ve been out on the field as they say, going to conferences and having face-to-face chats with customers and prospects alike. We love having the opportunity to demo and share all FilingRamp has to offer in person—and getting in touch with some of the best and brightest in the Insurance industry!

A big thanks to the organizers and participants from the spring conferences we attended:

  • April 11-12 - AICP Filing School (Indianapolis) Exhibitor, Presenter/teacher

  • May 7 - AICP New England Chapter E-Day (Worcester, MA) Exhibitor

  • May 13-15 - Target Markets Mid-Year Meeting (Tampa) Exhibitor

  • June 3 - AICP Mid-Atlantic Chapter E-Day (NYC) Exhibitor

  • June 5-6 - Insurtech Insights (NYC)

Upcoming Feature Alert - Search Expansion with Semantic Search

FilingRamp’s Search feature has been relied upon by companies to search anything and everything in a company’s filings:

Objection letter content Referenced statutes Form typos Keywords

However, with users being able to enter more data into more features in FilingRamp, a serious expansion of our Search feature is an obvious must-have.

This summer, FilingRamp is expanding Search to go way, way beyond filings. Companies will be able to search non-filing custom data, their Forms and Rates Library, the Ramp Drive, and even their conversations with one another in FilingRamp’s chat feature, which is featured throughout the application on things like projects, filings, and objection letters. Lots of important conversations happen within insurance companies about things like filings, objections, forms/rates, and countrywide projects. In FilingRamp, that conversation happens right next to the data and is not lost or scattered in places like email. Now that conversation can be searched and used to assist the company in future scenarios.

The search expansion will also include FilingRamp’s first of many AI Assist features, Semantic Search. Semantic Search harnesses artificial intelligence to inform data navigation with the context and meaning behind a user’s search terms. Instead of matching keywords like most search functions, with this new feature, users can now match the semantic meaning of their questions to that of their data. While keyword search is still useful, Semantic Search allows users to have what feels like a human mind sift through their data and locate sections within that are contextually relevant to their search query.

The logic behind this exciting new technology is complex, but, to put it simply, the meaning of a sentence or word within a user’s data is captured by thousands of specific numbers, called vectors. Artificial intelligence then uses these vectors to locate other sections of text that have similar vectors and, by extension, similar meanings.

Users will be able to use filters and search for concepts like "Defense Within Limits", "Prohibited Exclusions in Vermont", or "Extended Reporting Period" and return all the sections from the filing data that are most semantically related to the entered concept.

Upcoming Events

We had so much fun this spring at all the conferences and events that we are making sure to keep the momentum up. Look out for us at the following events as we shift into the all season. We can’t wait to pick up the fun where we left off!

  • AICP Annual Conference - September 15-18 - Indianapolis, IN

  • ITC Vegas - October 15-17 - Las Vegas, NV

  • Target Markets Annual Summit - October 21-23 - Scottsdale, AZ

When you schedule a FilingRamp demo with our team, you receive a full demo or current in-production functionality. In addition, you’ll:

  • See in-development features

  • Learn about upcoming integrations

  • Meet Jeremy and Tom, two nerdy guys who are passionate about solving insurance compliance inefficiencies with modern software

Want to just dip your toes in first? We’re always up for a quick informative call too. Get in touch today!

Read more from our reports