Frequently Asked Questions

How can LineSlip help me do my job?

There are many ways LineSlip can help risk professionals in your day-to-day responsibilities.

First, LineSlip eliminates the need to manually aggregate data from your insurance program documents. LineSlip uses machine learning and natural language processing to automatically extract insurance policy data and organize it in one place. We then have our internal insurance experts audit the information for accuracy. By using advanced technology to extract insurance program data, LineSlip provides you with accurate data and saves your team from doing this tedious process. You’ll free up your time so you can be more effective and efficient in doing other important tasks, such as optimizing risk financing decisions, conducting risk assessments and evaluations, creating risk management and insurance budgets, managing your team, and developing critical reports for executives and stakeholders.

Next, LineSlip visualizes your insurance program data in a set of intuitive business intelligence analytics dashboards that provide you with instant access and deeper insights into your insurance program. LineSlip gives you full ownership of your data, so you won’t have to rely on third parties. You can say goodbye to the days of asking your various brokers for an updated schedule of insurance or analysis of your premium spend with a specific carrier for upcoming negotiations.

LineSlip provides you with control, confidence and clarity. With the data at your fingertips, you have more leverage in negotiations and can drive more strategic decision-making for your organization. In addition, risk management teams can easily communicate data to senior management and other important stakeholders. 

Other than policy documents, can LineSlip store all our insurance-related documents?

We understand that there are a lot of insurance documents you handle as a risk professional on a day-to-day basis, from policy documents, binders, invoices, Third Party Administrator (TPA) agreements, brokerage agreements, contracts, and more. Due to the high volume of documents, you may want to be able to keep all your insurance-related documents in one place. Currently, LineSlip is can store binder and policy documentation. However, we're currently working on solutions to provide risk professionals with a singular central location to store all your risk-related documentation.

How long does it take LineSlip to upload my documents to the platform during the initial implementation?

Once we receive your current in-force source documents, it should take about 12-14 weeks for the initial implementation. This timeline will depend on the document quantity and program complexity. 

Can I look at data by calendar year (or by fiscal year for budget purposes) in addition to policy year? How?

Most insurance professionals like to view their insurance data by policy year, but there are times when you would rather look at the data by calendar or fiscal year. LineSlip allows risk professionals to view data by policy/program year, and has multiple ways to view policy data with the inclusion of a relative date, calendar date range, or policy year via drop-down filters available throughout the LineSlip analytics.

How do I update the data on LineSlip to reflect a mid-term policy period change or premium adjustment?

In the world of insurance, sometimes there are mid-term policy period changes or premium adjustments. When this happens, you can send us any mid-year policy changes or adjustments through an endorsement document, and we’ll make the adjustments in the LineSlip platform for you.

How is LineSlip different from a Risk Management Information System (RMIS)?

Since LineSlip also deals with insurance program data, a common misunderstanding is that we are a RMIS solution. We are not a RMIS.

RMIS platforms help risk professionals manage risk-related information including claims administration, third-party risk management, compliance, policy management, audit, enterprise risk management, project risk management, risk mitigation, and more through manual data input and on a granular level.

Meanwhile, LineSlip deals with aggregated insurance program information such as policies, premiums, retention, limits, rates, and more through automation. LineSlip is a business intelligence tool that allows risk professionals to visualize insurance program data by premium, broker, carrier, and line of coverage in data-rich dashboards. With LineSlip, you can easily manage your insurance policy data, get insights into your budget, and manage your total cost of risk.

One way to think about the relationship between LineSlip and RMIS software is that our product is not a replacement for a RMIS, but it is a complementary product that helps risk professionals have a clearer picture of their insurance data. For more information, check out the blog post here.