Sapiens PolicyMaster for P&C (IDITSuite)

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Overview

Sapiens PolicyMaster for Property & Casualty (formerly called IDIT Policy) is part of Sapiens IDITSuite for Property & Casualty and comes pre-integrated with the Sapiens DigitalSuite for Property & Casualty. It is easily integrated with existing and external systems and applications. PolicyMaster manages the end-to-end policy administration lifecycle of an insurance contract from initial quote, through rating and policy issuance. It also features a complete range of policy issuance and amendment capabilities.

Agents, underwriters and customers use PolicyMaster to quote, issue and administer policies. It provides comprehensive policy lifecycle support for all P&C lines of business.

Sapiens PolicyMaster for Property & Casualty is available as a standalone management system, or as part of IDITSuite.

Key Features

With Sapiens PolicyMaster, insurers can benefit from:

  • Support for internal users, as well as agents and directto-consumer channels
  • Quick quote and full application data capture flows
  • Support for role-based processing • Configured straight-through processing
  • Complete quote, issue, bind and service functionality, including “what-if?” scenario-building
  • Full policy lifecycle management, including new business issuance, changes, cancellations, reinstatements, renewals and comprehensive support for out-of-sequence transactions
  • Complete historical views of policy information, with full audit capabilit

Key Benefits

  • Automated and end-to-end, the system eliminates manual processes and increases accuracy, which reduces costs and effort
  • Using open standards, and innovative tools and capabilities, the system enables insurers to quickly respond to changing business needs and regulations. This results in quick time to market and increased revenue streams
  • Modern and automated management enables insurers to support new sales channels, shorten the deployment of new and innovative products, and support global operations. This will enhance insurers’ competitive advantage

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