In an effort to grow their businesses and compete in the complex and ever-shifting North American property and casualty (P&C) insurance industry, it is vital for carriers to possess intuitive and user-friendly solutions to accomplish critical tasks using configuration, rather than coding. Policy administration requires operational agility and speed-to-market to ensure cost-effectiveness.
Sapiens PolicyPro for Property & Casualty (formerly Adaptik Policy) is part of the Sapiens CoreSuite for Property & Casualty and is a scalable and configurable quote, submission and policy management system. PolicyPro is used by agents, underwriters and customers to quote, issue and administer policies, including integration with third-party systems.
PolicyPro provides comprehensive policy lifecycle support for all P&C lines of business. It offers support for internal users, as well as agent and direct-to-consumer channels. It provides role-based processing, quick quotes and full application data capture flows, as well as configured, straight-through processing. Complete quote, issue, bind and service functionality includes “what-if?” scenario building.
The solution offers carriers full policy lifecycle management, including new business issuance, changes, cancellations, reinstatements, renewals and comprehensive support for out-of-sequence transactions. Complete historical views of policy information include full audit capability.
Additional extension components include Customer ManagerPro – which provides agents and underwriters with a complete customer picture at a glance – and Work ManagerPro – which enables P&C insurers to track and manage work items across the enterprise for better customer service and improved collaboration between agents and underwriters.