A life insurance policy administration system is a software that enables insurers to manage a range of group or individual life, annuity and pension products. A PAS supports the entire life insurance value chain, from product and business configuration through new business processing, policy issuance, ongoing policy administration and claims. A life insurance PAS consists of a set of core components. * Product Development and Maintenance * Quotes/Illustrations * New Business * Manual Underwriting * Billing * Customer Management * Ongoing Policy Administration * Claims
"EXL provides great service for the LifePRO platform."
EXL has made a lot of improvements to the LifePRO platform over the last few years.
"Working with FAST is a good experience."
We are new to the FAST platform so are not yet using all of the capabilities. What we are using so far has added value to our company.
"Accenture Life Insurance and Annuity Platform earns outstanding ratings"
The focus in choosing ALIP was on increased speed to market for product development,. The product configuration provides flexibility for companies to handle most product development independently if desired, The product configuration flexibility also allows for faster changes to existing products for risk management and response to market environment changes.
"Excellent platform that can be customized to your organizations needs"
Overall an excellent platform and excellent company and staff to work with. The User Group Community is also great. Lots of communication between customers discussing features, projects and sharing ideas.
" Flexible, Scalable and Open Platform. Strong consulting partnership with Equisoft."
The Oracle Insurance and Policy Administration (OIPA) platform provides a rich set of functionalities and capabilities for the automation of the individual life insurance and annuity business. The Equisoft partners provide high quality project and support services for the platform. The Equisoft team members have very strong insurance industry experts who are flexible and very responsive to changing business needs and issues.
"McCamish is an extension of our business ensuring admin and operations appear seamless"
McCamish is essential in the servicing of our account and product/clients and has been an outstanding partner. We have grown in this business together and continue to find the best ways to stay on top of the market and ahead of the curve when it comes to client services.
"Partnership at it's best "
Very positive experiences whether it be production support or project work. Key to our success is communication, all parties communicate very well.
"Implemention in a work in progress as we continue on a journey of transformation "
The team at Concentrix over the course of the last 7 years while under the ownership of several different companies have never waivered from their commitment to their clients. Their support of our company and our implementations as we have installed the Life system and the Group system over the last 7 years across our company. We consider the team at Concentrix to be strategic partners to us in our business as they work with us to transform our business.
"Practical Insurance Administration at a Fraction of the Cost"
QLAdmin has performed well for us. They have customized at reasonable prices. It is a very cost effective platform.
"Please with the capabilities of the Rating module"
We are only using the Rating's engine portion of the Admin System and are very pleased with this component. It has been integrated with Majesco’s Digital Connect platform.
"Great Partner"
Overall positive relationship and effective partnership resulting in a quality system being developed.
"Good Out-of-the-Box and even better with product configured for our market play."
Excellent business value in the fully integrated, end-to-end experience. Flexible and easy to configure. Vendor responsive; resources provided expertise in architecture, functionality and configuration. Some challenges with performance/performance tuning.
"One of the best software for all your insurance needs"
the software is one of the leader in the market and is very user friendly, fast and reliable software to manage daily business and varios LOB under single umberella
"Good relationship but still need to win over new management"
Day to day reports, transactions and files work well. New product work or functionality was a challenge.
"Socotra policy admin partnership has been great"
Overall our experience with Socotra has been very good. The policy admin system is very flexible and can be used for multiple product offerings. The support staff has been great to work with and generally provides feedback very quickly. The only challenge that I have seen thus far is their ability to complete some of enhancement requests in the time frame committed.
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This product is very intense. There are many options you can set up to make your CRM better for your business. There are many options to help with customer retention and marketing abilities. This system has been a great asset for our call center.
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