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Profit Life & Pension

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Overview

Profit Life & Pension (PLP) is a core policy and claims administration system specifically design for life insurers. In PLP a life insurer manages the whole product range, savings, pension, and life risk, side by side in one system. PLP covers sales, care and claims phases. The platform includes services, tools and system integrations to effectively run the daily business and to fulfil the regulatory demands.

Key Features

SUPPORTS LIFE INSURER'S WHOLE PRODUCT RANGE

  • Saving insurances
  • Pension insurances
  • Life risk insurances
  • Products combining pension and life risk, e.g. occupational pensions schemes

SUPPORTING DIFFERENT TYPES OF SAVINGS

  • Capital redemption
  • Unit linked
  • Base rate
  • Defined Benefit schemes
  • Defined Contribution schemes

LIFE RISK COVERS

One time payment covers

  • Death
  • Critical illness
  • Permanent disability

Daily allowance payment covers

  • Temporary disability
  • Hospitalization

Cost based payment covers

  • Medical expenses

AGREEMENT AND RISK COVER STRUCTURES

  • Individual insurance
  • Joint insurances
  • Group insurances

RISK CLAIMS MANAGEMENT

  • Lump-sum claims
  • Recurring claims
  • Cost based claims
  • Case handling

COMPREHENSIVE SET OF PLATFORM SERVICES

  • Policy management
  • Investment management
  • Client data management
  • Insurance calculations
  • Service API's for self-service and 3rd party integrations
  • Omni channel support
  • Invoicing
  • Printout generation
  • Processing of in- and out-payments
  • Commission management
  • Bookkeeping
  • Reporting

Key Benefits

OPERATIONAL EFFICIENCY

Modern platform providing a large number of services supporting business processes automation and rules based decision making.

DIGITALIZATION

A full range of Application Programming Interfaces (APIs) enabling expansion of the digital customer journey.

REGULATORY COMPLIANCE

Built-in regulatory compliance supporting EU and local requirements.

MARKET FLEXIBILITY

Scalable solution for growing volumes. Flexible solution for new and changing product features. Standard solution, which can be modified to adapt to customer specific needs.