Insurance Solutions
> Introduction to Insure3 Policy
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As you know, customers are increasingly demanding innovative
products and exceptional service. Competition is intense, costs
are high and your hard-earned brand loyalty is at stake.
You need agile software systems to change from policy-centric
to customer-centric. But your legacy business systems are not
agile. Far from it.
Can you?
- Bring rapid product innovations and modifications to market
across all lines of business?
- Achieve better customer service and more effective integration
of CRM systems?
- Increase operational efficiency and reduce costs while processing
all lines of business on one system?
- Quickly transform to support new business initiatives?
You bet you can!
Meet Insure3 Policy, the centerpiece of Castek’s Insure3
family of flexible, core business handling software for property
and casualty insurance carriers. These integrated, yet loosely
coupled systems take information technology off the critical path
of strategic corporate initiatives.
Insure3 Policy was designed by a team of insurance
and technology experts to meet your unique challenges, opportunities
and competitive needs. It lets you engage in new business strategies,
capitalize on market opportunities and introduce cost-saving efficiency.
Thanks to its robust insurance business architecture and flexible
technology, Insure3 introduces an entirely new value
proposition to core business handling for P&C.
Customers, Not Policies
With Insure3, the customer is the focus of all business
information, from the policies they hold to loss and payment histories.
Finally, you can integrate with your CRM solution of choice to
coordinate marketing, sales and service. And easily identify and
promote cross-selling opportunities.
Business, Not Programming
Allowing business and IT to fully focus on their respective competencies
is critical. So Insure3 Policy was designed with a
business user in mind, not a systems developer. All its modules
and individual components were built to provide services that
the business user can reconfigure quickly and easily.
With Insure3 Policy, your business strategy can drive
change that IT can seamlessly support. Its open architecture allows
for continuous enhancement of its business functionality. At long
last, business and IT can work in unison to provide added value.
Key Benefits
Reduced Time-To-Market For New Products
- Limit change — minutes not days
- New coverage option — days not weeks
- New LOB — weeks not months
Tech-Enabled Relationship Management
- Customer-centric views allow for cross-portfolio selling
and management, including managing special marketing campaigns
Efficient Policy Processing
- Full policy life cycle processing, from application entry
through rating, underwriting and issuing policies.
- Multiple “what if” scenarios and quotes
- Mid-term changes, cancellations, reinstatements, rewrites
and renewals
- Future-dated and out-of-sequence transactions
Rules-Based / Data-Driven Design
- All business and processing rules are stored as data instead
of code. So most system change requests are made using simple
data maintenance windows instead of complex coding/testing/implementation
cycles.
Multiple User Interfaces
Our “thin client” client/server design makes it easy to create
multiple user interfaces including web-enabled, kiosk or broker-specific
batch and real-time interfaces. Our logical three-tiered architecture
separates the presentation logic, the business transaction servers,
and the components to provide flexibility in how various user
groups view the system. Presentation layers created in different
technologies (including personal computers with windowed or browser-based
interfaces, wireless digital phones and advanced PDAs) can access
the same set of business transaction servers, including data edits
and business processes.
The Modules
Insurance Customer Information
The Customer Information module provides “one-stop” access to
all customer information in the solution. This model relates all
information about customers and policies to the customer or the
account that owns them. Complete access to customer information
from claims to payment history to existing policies, and the ability
to enable customer-focused and location-independent relationship
management, means now you can provide comprehensive marketing,
sales and service to customers.
Product Configuration
Product configuration is one of the key features that sets Insure3
apart from most policy administration systems available today.
All product information is stored as data, so product changes
do not have to be coded. Taking code changes off the critical
path of new product introduction results in much faster time-to-market.
Policy Administration
In addition to first-class iCRM (insurance CRM) capabilities,
Insure3 Policy is a powerful system that supports rapid
insurance product definition and introduction, and complete policy
life cycle management for all P&C lines of business. On top
of initial application, quote, underwriting, issuance, billing
and renewal, the system also fully supports midterm changes, including
automated out-of-sequence processing, comprehensive transaction
history, user-defined security and authorization as well as task
management. With access to complete customer information including
claims, payment history and existing policies, you can finally
provide comprehensive marketing, sales and service to your customers
through a variety of distribution channels.