Eicore’s Insurance Policy Administration System Your Complete Policy Life Cycle Management Software
In today’s Insurance Business Processing and Handling Arena, traditional PAS are unable to keep pace with rapid changes required to manage business requirements. A modern health insurance is expecting a multi-functional system that is able to adapt to dynamics of business, provide ease of customer life cycle management and can be continuously aligned to technological evolution. In other terms a modern PAS is not expected to be a mere policy storage systems.
A modern PAS should be flexible in terms is adopting the changing requirements for underwriters, business managers or claims handlers. Few of the emerging key requirements from a PAS are to Minimize time to market, handle product complexities, system based risk assessment and HealthBuzz is an intelligent system that continuously aligns itself with ever increasing expectations from a PAS.
HealthBuzz is a single system and offers specific functionalities to different product groups. So be it Health, Travel or Personal Accident Insurance, HealthBuzz can easily adapt to requirements and offers desired flexibility that ensures your business continues to remain aligned to risk acceptance as well as handle customer expectations.
It’s digital ability ensures, you can easily integrate the system with internal or external systems of intermediaries, providers, TPA/HMO’s and claim handlers along with core financial systems. It is built with a modular architecture to achieve a lighter implementation and scalability.
HealthBuzz gives you a digitized and structured view of the system for better customer experience.
Challenges Faced with Legacy Policy Administration Systems
Time Management
Recording insurance applications, registering claims, enrolling financial info, and other necessary data manually is not manageable through a system that is not streamlined for serving such purposes.
Workflow Affecting Other Users
Lack of knowledge-based or product customization makes it harder to manage policy life cycles in most insurance systems. IT admins have to work extra hard in a disjointed system to configure everything for the users because of a lack of knowledge.
Limited Mobilization and Accessibility
Even with an efficient workforce, it can be challenging to manage multiple locations for policy administering through the usual system. If the team members in an insurance firm are limited, it becomes harder to manage customers remotely.
Lack of Synchronization
A system that does not have a flexible and collective integration of all the modules is not sound. That's one major problem that most firms face due to a seamless support platform to execute all operations at a moment’s notice.
Lack of Customer Interaction
Most policy administrative systems in the world of insurance are meant to record data and leave it at being till renewals are required. That demotivates customers due to the lack of engagement from the insurer's end at times.
How Can You Overcome These Challenges?
Eicore commits solving such problems through its structured and flexible cloud-based or on-prem deployment that systematically integrates, implements, and configures all insurance-based information. Utilize the limitless power of this modularized system to ensure a more substantial insurance policy administration system for your customers by implementing our software’s unique features:
Customer Communication : Stay up to date with everything, from insurance application enrolment to policy claims, renewals, updates, and more. Get instant notifications on your portable smart devices through emails, SMS, or instant messages.
Seamless Integration : Combine all modules through a centralized system that makes the workflow simpler to manage. Access all department files and records in one massive yet encrypted system for better efficiency.
Product Configuration : : Let business users configure or customize the system as per their knowledge and professionals liking for quicker output. And that too without affecting the workflow of other users at all.
Top-Grade Product Configurator : Manage your complex insurance administration system with an automated configuration tool. Execute data-specific commands that are tailor-made for maximum customer satisfaction from the start.
Streamlined Document Management System : : Get access to a simplified document portal that records, manages, and safeguards all regulatory compliance and policy data in a cloud-based, encrypted, and limitless space. As a result, you can have easier retrieval, enhanced collaboration, better security, and decreased storage space for higher productivity.
See why some of the world’s most trusted insurers rely on eicore to meet their digital needs.
Integrating Eicore was the biggest impact investment of anything we’ve done to date.
- COO at a Hong Kong-based Life Insurance company
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Eicore offers comprehensive software services and products for brokers, insurers, HMOs, insurance TPAs, self-funded schemes and retail users. Eicore’s health insurance claims management software is an end-to-end and client-focused software providing solutions for claims handling, delivering significant benefits to insurance organizations with its wide-ranging functionalities. The claims management software integrates seamlessly with the existing policy administration system and external entities, thus digitalizing the claim process and saving resources, operational cost, and time, increasing efficiency, and preventing fraud.