Resident liability waiver and deposit replacement programs on one platform.
InsurOps Resident Programs automates liability waiver and deposit replacement operations across pricing, enrollment, proof of insurance, claims, invoicing, reconciliation and reporting. It supports broker-sponsored white-label programs and captive insurance programs. Residents enroll through the property management system.
36.7% lower resident-default losses
in one KPMG-audited captive deposit replacement program.In third-party resident programs, the provider keeps the margin, the fee and the data.
Program economics
The provider keeps the underwriting margin and the program fee.
Program data
Enrollment, claims and reconciliation data are kept in the provider's systems, and owners receive summaries.
Resident experience
Residents still send billing questions and opt-out requests to the property manager and the owner.
Resident default
Default costs are reported apart from the insurance program.
Manual administration
Enrollment and invoicing are tracked outside the property management system.
“Our residents appreciate the option of an alternative to security deposits, which has led to a smoother leasing experience.”
Director of Technology, multifamily owner-operator, deposit replacement program
InsurOps supports two program structures.
A broker can sponsor a white-label program for its clients. An owner can operate the program inside a captive or a self-insured retention.
1 · Risk structure
2 · Operating platform
3 · Connected systems
The risk stays in the captive, self-insured retention or broker-sponsored program. InsurOps executes the operations. The owner or sponsor controls the data.
Assurified takes no share of the program's premium or margin.
InsurOps operates both resident programs from enrollment to reporting.
Resident Liability Waiver
InsurOps handles enrollment, opt-outs, proof of insurance, billing and compliance reporting for a broker-sponsored program or the owner's own captive or self-insured retention.
The broker sponsor, the property manager and the owner share the same program record.
Resident Deposit Replacement
It replaces the traditional security deposit with coverage backed by a captive or self-insured retention.
InsurOps manages enrollment, pricing, invoicing, reconciliation and claims for the program.
Results from one KPMG-audited captive program.
reduction in resident-default losses.
underwriting profit margin.
the coverage of a traditional security deposit, in the same program.
Planning range and target
of NOI goes to total cost of risk when resident default is included.
of manual program tasks automated.
Resident programs and the owner's insurance program use one platform and one data model.
InsurOps reports resident default alongside premiums and retained losses in total cost of risk.
Liability waiver operations
- Residents enroll and opt out through the property management system.
- Property managers and residents have their own portals.
- InsurOps tracks proof of insurance and issues compliance alerts.
- Invoices are presented, payments are collected and accounts are reconciled.
- Compliance is reported across the portfolio.
Deposit replacement operations
- Residents enroll through the property management system.
- Pricing, invoicing and reconciliation are completed on the platform.
- InsurOps moves each claim from intake through approval to payment.
- Performance is reported with default analytics.
White-label programs
- The program is presented under the sponsor's brand.
- Reports cover participating owners and properties.
- The program operates inside property manager workflows.
Managed back-office operations
- Selectsys operates resident program back-office workflows on InsurOps as a managed service.
- It also provides managed human-in-the-loop review.
- Access is limited to each assigned scope.
- The firm has served more than 120 managing general agents (MGAs), wholesalers and carriers over 15 years.
- Selectsys has a SOC 2 report.
The operations dashboard shows products, policy declarations, waivers and resident enrollments by status, and the items that need attention. Illustrative data.
Resident Risk Analytics supplies pricing indications based on measured default risk.
The add-on measures the cost of resident default by property and charge type, scores risk from 1 to 100 by property and lease, and builds a five-year captive or self-insured retention pro forma. The program's actuary, captive manager and carrier approve rates, funding and coverage.
Resident Risk Analytics trains private models on the owner's own portfolio history.
The chart plots predicted loss against risk score, with colors showing low to high risk. Illustrative data.
SOC 2 Type II
InsurOps provides more than 50 least-privilege access roles, SAML single sign-on and encryption, and each customer's data is isolated from every other customer's.
The path to a go/no-go decision.
An Assurified solution architect will work with your team to identify a high-value use case that's right for you. All of our customer engagements begin with a low-risk proof of value (POV).
Use cases
Learn about the InsurOps platform and map its capabilities to your potential use cases.
Metrics
Identify the metrics that matter most to your team.
First use case
Agree on the first use case.
Solution proposal
Review the solution in a deep dive with your team. The proposal includes the business case and a rapid Proof of Value (POV) based on agreed success criteria.
Go/no-go
Decide whether to move forward with the solution.
What stays the same
- Your existing brokers, carriers and systems stay.
- You control the data and who can access it.