Aspire Core System

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Overview

Aspire's modern technology platform delivers cloud-based core administration (policy, billing, and claims) functionality to many of the insurance industry's largest and most respected P&C insurance organizations. Designed for ease of use and maximum front-end configurability, Aspire is driving down costs, improving profitability, and powering P&C insurance for today and tomorrow.

Available as a pre-integrated suite or as standalone components, Aspire provides proven core administration functionality and additional solutions for underwriting, premium accounting, document/content management, workflow, business process reporting (BPR), financial reporting and compliance management.

Maple Tech’s Aspire Suite is the ultimate underwriter resource, providing easy integration with back-end systems, third-party data interfaces, analytics tools, and more, as well as collaboration tools, and an ability to configure workflows, scorecards, and models to make sure the company writes more of the best risks at the right price faster than any other system on the market.

A better ability to meet the changing needs of an industry in flux demands the more effective underwriting, agile policy admin, and flexible product management of Aspire to deliver the exceptional customer experience today’s new potential policyholder expects.

Aspire utilizes a combination of the in-depth market experience of Maple Tech’s executive, technology, and data teams and tested technology innovations to ensure insurer clients have the tools needed to succeed during rapid market changes.

Key Features

A cloud-based, core administration (policy, billing, and claims) technology for P&C:

  • Insurance companies
  • Reciprocals
  • Risk Retention Groups (RRG)
  • Captive Insurers
  • Self-insured entities
  • Managing general agencies (MGAs)

Across all P&C lines of business, including:

  • Personal
  • Commercial
  • Workers' compensation
  • Specialty

Policy

A highly-configurable, cloud-hosted, policy admin and product management system handling over 30 lines of P&C insurance, and in production in all 50 states and U.S. territories.

Unlike other industry solutions, Maple Tech’s Aspire puts robust policy administration and product management capabilities and quote-to-bind control at the fingertips of property and casualty (P&C) insurance professionals with:

1. Callouts to industry standard databases for quick, easy, real-time validation of risks and rates;

2. Adaptable configuration capabilities designed to empower business users;

3. Automated generation of policy documents, including endorsements, cancellations, reinstatements, and renewals; and

4. Support for omni-channel collaboration between agents and underwriters facilitated by utilization of a centralized data warehouse.

Billing

With direct bill, premium finance, account current and bordereaux capabilities, Maple Tech’s Aspire Billing delivers complete billing, payment processing, disbursement, and financial tracking functionality, as well as:

  • Enabling insurers to track productivity and user errors;
  • Offering comprehensive analytical capabilities to generate stock and customized reports critical to business operations;
  • Generating invoices, statements and reconciliations; and
  • Easily integrating with third-party payment systems.

Utilizing modern billing and payment technologies and integrations with third-party providers, premium payments are processed faster and more efficiently, account statements produced more accurately, and claim payments delivered more rapidly. Aspire Billing includes self-service features at both agent and customer levels with robust analytics to provide insights which resolve billing and payment inquiries faster.

Claims

Through real-time, integrated access to data, Maple Tech’s Aspire Claims unifies disparate stakeholders in the claim process, improves the potential for critical collaboration, and reduces the time to resolution by:

  • Immediately verifying coverage within seconds of FNOL;
  • Allowing export of data to configurable dashboards and commonly-used file types, such as Excel, CSV or XML for easy analysis by business users;
  • Reducing loss adjustment expenses (LAE) and the potential for fraud by vetting claims against publicly-available data; and
  • Improving catastrophe management by scaling to handle high volumes of claims during natural and manmade disasters.

Key Benefits

Maple Tech’s Aspire Core System is built on a modern technology platform which optimizes policy admin and product management capabilities, making it easier to enter new markets and launch new or modify existing insurance products for greater profitability.

Freedom from the Limitations of Legacy Systems

P&C insurance organizations can no longer afford to be held hostage by the limitations of legacy systems which require a larger physical footprint, constant development of workarounds by in-demand IT resources, and which inhibit growth as a matter of course. Aspire Policy is cloud-hosted for flexible deployment models, on-demand scalability, operational efficiencies, and guaranteed uptime.

Autonomy from Manual Processes for Better Speed to Market

Manual data entry is not only time-consuming, it is an error-prone process which can have a negative Domino Effect on downstream activities. As P&C insurance organizations struggle to adapt to significant industry change, more time and resources must be re-purposed from mundane, redundant, manual tasks and dedicated to driving innovation. Aspire Policy automates duplicative data entry for user convenience by employing a single data entry portal even when multiple in-force policies.

Maintain Compliance with State and Federal Regulations

The insurance industry is governed by one of the most complex and difficult to navigate regulatory environments in the world. Aspire Policy includes embedded features and functionality to simplify producer licensing and commission management, while also providing data capture, document retention, and workflow capabilities which create detailed audit trails and maintain compliance with ease.

Ensure Security of Policyholder and System Data

What’s keeping insurance executives awake at night? Due to high-profile hacks and targeting by data/identity thieves, cyber security has become a major area of focus and expense for insurance organizations. Aspire Policy relies on secure socket layer (SSL) authentication, industry standard encryption, and data redundancy ensured by cloud hosting to guarantee data privacy and security critical to retaining customers in today’s competitive marketplace.

Billing

Integration with Third-Party Providers for Faster Processing

A cloud-hosted solution for the billing and payment preferences of today’s modern consumer creates an instant audit trail, ensures optimum cash flow, and improves executive insights into overall business performance.

Creation of a Seamless Customer Experience

Utilizing cloud technology and a sophisticated permissions architecture, Aspire enables self-service functionality and allow anytime, anywhere access to coverage and account information by authorized users to keep payment preferences (credit/debit/EFT or digital wallets, such as PayPal, Venmo and Apple Pay) up-to-date without switching back and forth between windows, vendors, or CSRs.

Automation of Manual Processes to Increase Insight and Reduce Leakage

Manual processes of any kind can negatively impact downstream activities and results, and keep P&C insurers from achieving any tangible benefits from digital transformation or innovation initiatives. Aspire minimizes billing leakage by automating the daily tasks required for insurance billing, including invoices, renewal notices, cancellation notices, write-offs, disbursements, and other important billing functions.

Improved Security of Policyholder Account, Billing and Financial Data

Keeping billing and payment information for customers, as well as distribution channel partners, secure is a primary concern for P&C insurers trying to protect and store bank account and routing numbers, credit card numbers, and links to digital wallet providers. Aspire employs Transport Layer Security (TLS, the successor to SSL) protection for data in transit, and industry standard encryption to guarantee data privacy and security depending on the authority level of each individual user.

Claims

Reduction of Claim Leakage and Fraud Losses

Aspire utilizes cloud technology and a sophisticated permissions architecture to allow anytime, anywhere access by authorized users for real-time verification of coverages and past claim histories, as well as integrations with industry-standard databases to help P&C insurance organizations reduce claim leakage and fraud losses.

Automation of Manual Processes for Increased Accuracy

Manual processes of any kind can negatively impact downstream activities and results, but manual data entry is an especially error-prone process. P&C insurers still relying on paper files and manual data entry have yet to realize the benefits of digital transformation, or gain any ability to move past routine and into innovation. Maple Tech’s Aspire Claims eliminates the need for duplicative data entry by allowing cross-referencing between solutions and access to a single data repository for pre-fill of existing information at the moment of FNOL.

Product/Service details

Geographic Availability
Africa, Asia-Pacific, Central America, Europe, Middle East, North America, South America