MANAGING INSURANCE POLICIES HAS NEVER BEEN EASIER
Transform the way you issue quotes, capture data, and process insurance policies with our powerful application.
What Is Underwriting and Policy Management Software?
Underwriting and Policy Management software is a platform used to capture and process insurance policies, underwriting data, premiums, limits, deductibles and values. It includes a quotation engine to calculate and adjust premiums, a rating system to apply business and risk factors, and a real-time correlation between each policy record and its associated claim — giving users visibility of claims count, reserves, payments and recoveries.
UNDERWRITING & POLICY MANAGEMENT — THE FIGTREE ADVANTAGE
Figtree Systems’ policy management software has been designed to service all classes of insurance. The core functionality of Figtree Systems policy management modules is to capture and process insurance policies, underwriting data, premiums, limits, deductibles and values. A quotation ‘engine’ allows premiums to be calculated and adjusted using the criteria dictated by your business and risk. A rating system incorporates all factors and conditions and offers the flexibility to ensure that changes to your business environment can be easily adopted. The production of policy wording, certificates and premium statements is standard with Figtree Systems policy management software, as is the option for customised web pages for capturing data. Easily analyse all levels of a quote, risk or premium and use the information as a management tool. This data can also be graphically represented to ensure a clear understanding of report data. A correlation exists between the policy record and the associated claim. This provides the user with a real-time understanding of the number of claims made together with reserves, payments and recoveries made.
Key Components and Benefits
Access to all the standard features in Figtree Systems Software Suite and to purpose built Life Insurance and Disability Claims Management options which include:
KEY COMPONENTS
- Policy
- Quotation
- Convert quotation to policy
- System generate policy statement and schedule
- Rating system
- MTA / Endorsement
- Policy renewal
- Policy Audit trail
- User friendly custom report generator
- User designed workflow
- Web published system
- User defined data edit (validation) rules
- Job processor
- Diary and task management
- User security
BENEFITS
- Highly configurable and works with different lines of business
- Proven installations
- Web enabled
- User maintainable rating tables
- Full policy cycle from quotation to renewal
- Mid Term Adjustment
- Full audit trail of Policy history
- Policy finance of invoice and receive
- Interface with Figtree Claim management module(s)
ARE YOU ON THE CLOUD?
Figtree Systems software solutions are web-based and are delivered in the cloud as a SaaS solution.
EXPERIENCE YOU CAN COUNT ON
We have over 40 years’ experience developing and supporting configurable software applications to help organisations manage their own complex operations relating to insurance, workers’ compensation, fleet, assets, risk, safety compliance, and more.
We are proud to be a trusted provider of underwriting and policy management software across the world, helping businesses take control of critical elements of their operations.
COMMERCIAL OFF THE SHELF (COTS) SOFTWARE
Due to our software’s COTS nature, a low-risk implementation methodology is used in our solutions, meaning that only system configuration is required to align the application to our customers’ needs.
This reduces implementation timeframes and significantly reduces the risk of issues being introduced during implementation.
Frequently Asked Questions
Common questions about Figtree Systems’ underwriting and policy management software.
What is underwriting and policy management software?
Underwriting and policy management software is a platform used to capture and process insurance policies, underwriting data, premiums, limits, deductibles and values. It transforms the way insurers issue quotes, capture data, and process insurance policies.
Does Figtree’s policy management software include a quotation and rating engine?
Yes. A quotation ‘engine’ allows premiums to be calculated and adjusted using the criteria dictated by your business and risk, and a rating system incorporates all factors and conditions, offering the flexibility to ensure that changes to your business environment can be easily adopted.
Can I see claims, reserves and payments against a policy in real time?
Yes. A correlation exists between the policy record and the associated claim. This provides the user with a real-time understanding of the number of claims made together with reserves, payments and recoveries made.
Is Figtree’s underwriting and policy management system cloud-based?
Yes. Figtree Systems software solutions are web-based and are delivered in the cloud as a SaaS solution.