Overview
Comarch Life Insurance is a comprehensive system supporting individual and group life and health insurance. The system is perceived as a platform that can handle any type of protection, pension, savings and investment products with possible extension to health insurance.
The solution allows for efficient management of all business areas and it focuses on product definition, group offer presentation, policy operations, fund management, settlements and technical provision calculation. Thanks to its modular structure and unique flexibility, the system can be tailored to an individual customer’s needs and requirements, including the individual life cycle of business processes and the specific nature of a particular insurance company.
Key Features
The system gives possibilities for comprehensive policy administration. Key features are:
■support for both individual and group life and health business
■product development including the actuarial calculation engine, the rate table and the update management tool
■extended scope of stored data and interfaces
■full policy life cycle support – quotation and application management, policy issuance, ongoing contracts administration and endorsements
■possible extension for collection and disbursement support, as well as technical sub-ledger accounting
■comprehensive and ergonomic policy and contract data overview with versioning.
Key Benefits
The system is characterized by process optimization and improves the competitiveness of the insurance company. Key business advantages are:
■Competition left far behind-Quick adjustment to market changes with flexible and configurable tools
■Process optimization - Process-oriented solution ensuring a high level of automation and more efficient task management
■Costs and mistakes reduction - Optimize and automate customer service processes, four-eye acceptance and support by system calculations and verifications
■Scalability to meet business and IT needs - Modular architecture, proven technology and the SOA approach delivered by a highly experienced team
■Continuous development and growth - New perspectives and possibilities to expand the worldwide business