ConceptOne

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Overview

Introduction to ConceptOne

ConceptOne, the flagship product of Epic-Premier, serves as the foundation for meeting the needs of our clients. ConceptOne provides an innovative solution for close to 7,000 users from over 65 different insurance organizations managing billions in premiums and claims.

ConceptOne standard production capabilities include Policy, Accounting, Claims, and Document management. Policy administration services such as application clearing, quoting, submission tracking, binding, policy lifecycle management, policy issuance, integrated claims and accounting management. Policy lifecycle management includes the ability to endorse out of sequence, audit, cancel, reinstate, reissue, renew, non-renew and rewrite.Policy rating is available through several integrated methods: third party ISO rating software, integrated spreadsheet rating, slot rating, and custom rating applications. ConceptOne native accounting capabilities include billing, payables, receivables and general ledger management.Rules based surplus lines tax generation and tracking is also integrated.The claims functionality is transactional, can be configured for claims management, tracking or a combination of the two and allows for full claim processing and review, including accounting and reporting. Fully integrated Document mangement automatically files all system generated documentation and provides the ease of drag and drop capability for importing external documents.

Adaptability is a major feature of ConceptOne. Any user can implement specific work processes as user-defined workflows. In addition, users can create new or modify existing reports, create standard correspondence templates and extend the database through the creation of user-defined tables/fields.

ConceptOne provides a rich user interface to all of these features that exposes extensive visual customization and business process rule capabilities.We also recognize that clients may have the need for a digital platform to interface ConceptOne with other systems or provide their own specialized custom applications while leveraging the foundation they have built on ConceptOne.The ConceptOne Software Developers Kit (SDK) provides clients and third party vendors the ability to develop their own desktop and web applications based on ConceptOne transaction processing engine.The SDK supports multiple interface development platforms and all service requests are formulated by the developer in XML (Extensible Markup Language).Secure RESTful API’s and a secured Enterprise Transaction Manager assures a secure deployment of the SDK.

Key Features

ConceptOne Policy Management Functions

·Clearance

·Rate, Quote, Bind

·Policy Issuance

·Policy Lifecycle Maintenance (Endorse, Renew, Cancel, Reinstate)

·Product/Coverage Configuration Tool

ConceptOne Accounting Management

·Billing (Invoices/Statements)

·Accounts Receivable/Payable

·Financial Reporting

ConceptOne Claims Management

·Claims Processing and Management

·Claims Diaries/Notes

ConceptOne Paperless Operations

·Fully Integrated Document Management

·Workflow Designer Tool

·Integrated Email Communications

Technical Foundation

·SQL Database

·Microsoft Office Interface (Outlook, Word, Excel)

·Softwared Developer KitDigital Platform Software Development Kit/XML Tools

Key Benefits

  • Deploy new business offerings faster with the ability to configure new products, integrate rating, configure policy forms, and design workflows.
  • ConceptOne's fully integrated management system makes data mining easier with a single source of record.
  • Developed with a robust digital platform, clients expand their systems using ConceptOne's SDK which provides hundreds of API's and a secure transaction gateway.
  • Gain the benefits of Epic-Premier's best business practices during ConceptOne implementation projects.
  • Configure the system to manage your business the way you need to run it, not the other way around.
  • Non-restrictive seat licensing enables clients to process as much premium and as many lines of business without increased licensing costs.
  • Maintain seperate financial entities in different ConceptOne books, but on the same database, allowing for consolidated reporting.