RapidSure P&C Insurance Software - Functional

RapidSure is a modern, SOA based insurance software for the Property and Casualty Insurance market. With its rich functional capabilities, RapidSure is the selection of choice for any P&C insurance company.

RapidSure - Functional Overview

• RapidSure - A modern, insurance based solution that has been designed and developed to support the specific and unique needs of the North American Property & Casualty Insurance market.

• Service Oriented Architecture – A suite of solutions, easily integrated into existing environments, providing a robust Policy Administration capability with tools and services to process business efficiently and effectively in a modern IT infrastructure.
  
  
  
  

• Quick to Market - RapidSure Product Configurator delivers business users tools to quickly and easily define rules, workflow, product components (coverage, limits, deductibles, etc.) and user interactions. React to market and regulatory changes quickly and efficiently. Manage admitted and non-admitted lines as well as specialty and customized products. Existing clients have implemented RapidSure and taken new insurance products to market in as little as 3 weeks.

• Streamline Business Processes - Full underwriting referral with integrated rules and workflow driven processing provides efficient mechanisms for dealing with risk management, agent / broker enquiries and business concerns with rapid decision-making capabilities. Enhances relationships, communication, follow up, retention and loyalty.

• Process Reporting and Metrics - Business processes and metrics can be reported and analysed to identify problem areas or opportunities for improvement and new business acquisition.

• Rich Interface Experience - Deploy broker portals, direct to customer internet portals as well as internal user portals, each with unique branding, functionality and look and feel. “White Label” user interfaces become a reality.

• Dashboards - Dashboard functionality allows users to have all the tools they need in one location and provide a robust work environment with the information and processes required to effectively process business.

• Consolidated, Synchronized and Integrated - RapidSure Business Integration Platform consolidates enterprise data into a single view for enterprise reporting and analytics.

• Fully Integrated - The RapidSure component design provides a step by step approach to system integration. Control risk, costs and timeframes associated with implementation.
  
  
  

RapidSure Components

• Point of Sale Portal – A web portal that delivers productivity and effectiveness to producers, consumers and underwriters. Full access to policy information and transactions is available with the security, functionality and configurable user interfaces required to provide effective display and control of information and processes to all users.

• Policy Engine – A web portal policy administration and lifecycle processing solution utilizing current, modern technology to support all insurance transactions including automated out of sequence endorsements, renewals (automated and manual), cancellations, reinstatements, rewrites, reissuance as well as configurable, custom transactions.

• Product Configurator – A business tool to define business rules, workflow, product components (coverages, limits, deductibles, etc.) and user interaction. Support simple and complex insurance products. Existing clients have utilized the Product Configurator to roll out new, production ready products in timeframes as short as 3 weeks.

• Customer Relationship Management (CRM) – A web portal customer management solution providing a unique “MyInsurance” view to enable insurers and customers to view policy data, collaborate, educate and initiate basic transactions.

• Enterprise Agency System (EAS) – A web portal agent, broker and/or producer management system to record and maintain relationships between agents and offices, appointments, licencing and commissions with line of business particulars.

• Insurance Enterprise Architecture – A business transaction engine that executes and supports insurance business processes. The server based solution delivers functionality and scalability to drive business now and in the future.

• Business Integration Platform - Extract, transform, consolidate and synchronize insurance data from or to multiple source systems using an agnostic set of services that can be accessed via standards based interfaces including web services (SOAP, RESTful), messaging protocols, API, EJB and RMI calls. The SOA foundation provides common functions and interfaces to third party applications through exposed, well-defined services. RapidSure is ACORD and CSIO compliant and utilizes ACORD XML messaging as a standard integration method.

• Conversion – A visual data mapping, conversion, and integration tool, designed and developed specifically for the insurance marketplace that provides effective loading and cleansing of legacy data into the RapidSure platform.

Contact Sapiens today to learn more on RapidSure software for Property and Casualty Insurance