INSIGHT™ for Life Insurance - Policy Administration
The heart of the Life & Pensions Suite is the Life, Health, Pension and Savings application module. Engineered to streamline and facilitate all steps in the process, Sapiens Life, Health, Pension and Savings module guides the insurance organization firmly into the next generation of policy planning, processing and management.
Key Advantages
Sapiens INSIGHT™ for Life & Pensions Suite has exceptional advantages in addressing emerging trends in the life and pensions insurance sector. It offers comprehensive coverage of all aspects of policy administration– from product setup, through on-going administration, and even on to closed blocks.
- Separation between the business and platform layers – a modern approach to better utilize common infrastructure components and allow a modular and phased system deployment
- Total integration of all relevant parties - the insured, the insurance companies, agents/brokers and Life Insurance and Pension Funds personnel
- Dynamic, highly customizable system that and can easily accommodate any change to the organization's administrative processes
- Web-enabled, leveraging the advantages of the Internet and company intra-net
- Multi-company, multi-currency and multi-language
Business Layer and Platform Layer
- Parties
- Products
- Policy admin
- Funds accumulation
- Surrender & Redemption
- Billing & Collections
- Business logic
- Workflow
- Information management
- Infrastructures/interfaces
Life, Health, Pension and Savings processes divided into two layers
The functions and processes that comprise the INSIGHT™ for Life & Pensions Suite are logically and strategically divided into two layers, ensuring greater efficiency and to enhance features:
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