Policy administration
Customers used to receiving instant gratification on the Internet are apt to be frustrated by the insurance industry's often sluggish approach to product development, underwriting, and policy administration.
The continued erosion of barriers between financial institutions, and the considerable overlap in the data they collect, support the idea that financial institutions should expand their core systems to address, in real time, more types and methods of transactions. A bank uses many of the same components to build a home loan application that an insurance company uses to build a homeowners policy. For example, flexible platforms - such as those based on the Microsoft Windows Server System - would enable a bank to populate a homeowners policy with data from a mortgage application. In this way, the bank could offer the homebuyer insurance at the same time the mortgage is approved.
Microsoft has partnered with software providers and system integrators who use Microsoft technology to build solutions that enable insurance transactions, including selling, underwriting, and policy processing. This group of providers and solutions creates an Insurance Value Chain for the industry. All partners in the Insurance Value Chain have integrated their solutions with ACORD/XML standards. This means insurers can choose from an array of solutions and apply them to business processes, avoiding the monetary and time concerns of large-scale integration efforts.
The following partners offer policy administration solutions built on the Microsoft platform:
Applied Information Sciences, Inc. (AIS)
Through continuous investment in deep technical excellence combined with the dedication of a trusted partner, AIS has delivered a wide range of solutions for insurance and other financial services clients. From policyholder administration systems to business intelligence to mainframe modernization, AIS always focuses on project success – not hours billed. Since 1982, AIS has provided software and systems engineering services to companies looking to modernize applications, automate business processes, gain better business insight and create more effective workflow for employee, partner and customer experiences.
Duck Creek
Duck Creek Technologies markets insurance software that enables carriers to rapidly define, develop, deploy, and manage their insurance products and services for any line of business. Duck Creek seeks to become the leading provider of product life-cycle management software and services for the insurance industry. Their EXAMPLE Platform, a collection of Web services, enables business users to create and manage the entire product life-cycle management process.
Insurity
Insurity offers end-to-end software solutions and services for property and casualty policy administration, claims, business analytics, and reporting. These solutions are used by more than 125 insurance and financial services companies, including more than half the top 20 carriers in the United States. The Insurity suite of integrated solutions use Microsoft technologies such as Visual Basic, Microsoft Active Server Pages (ASP), Microsoft Message Queuing (MSMQ), and SQL Server
SISTRAN
SISTRAN has been providing software solutions and services for the insurance industry since 1977. SISTRAN serves more than 100 insurance carriers, from small businesses to large enterprises. The company's solutions allow insurers to enhance their operational and financial performance by improving the processes of risk-acceptance and loss-mitigation, automating underwriting, reducing claim cycle time, and managing increasing compliance and regulatory requirements. Solutions available include a rules based insurance product designer; a policy administration system; mobile & wireless solutions; a claims administration system; a reinsurance system; regulatory reporting, billing, accounting and a general ledger system.
See all of our Microsoft insurance partners who use the power of Microsoft technology to build integrated solutions that provide true end-to-end transaction processing.
