Entries by DBIBAbruger

IBSuite: What to gain as an insurance CxO

As an insurance business executive you are of course continuously optimizing internal administrative procedures, seen from a cost perspective. You are also likely to have a regular need to make changes in response to external factors; new legal regulations, market shifts or changes in customer demographics or culture.

Insurance Company

The insurance industry is approaching a breakpoint where the market changes will accelerate further, and the ability to adapt to the new situation will become the decisive factor for the well-being of many of today’s insurance companies.

Business are moving away from tied agents to independent brokers, MGA’s, internet channels and affinities, and especially for the consumer products we see increasing commoditization and de-bundling – and certainly a wealth of new products, channels and business models will continue to surface over the coming years.

Insurance Broker Company

IBSuite is a full-fledged insurance broker software that covers all processes from quote to bind, claims notification, payments, reconciliation and reporting – including online bordereaux generation. IBSuite – created with SME units of large corporations in mind

Business are moving away from tied agents to independent brokers, MGA’s, internet channels and affinities, and especially for the consumer products we see increasing commoditization and de-bundling – and certainly a wealth of new products, channels and business models will continue to surface over the coming years.

IBSuite: Set up new insurance products with IBSuite Product Lab

Many companies and agents are successful in expanding their market reach by adding more insurance sales channels, with the result that their ability to segment customers and prospects more narrowly increases in a linear way. By adding new affinities, you gain access to well defined and homogeneous customer segments, and by adding new insurance communication channels such as web shops, social media, or mobile apps, you gain access to valuable customer segmentation data.

IBSuite: Insurance Policy Administration

By using IBSuite for your insurance policy administration, you can significantly reduce time spent on mid-term adjustments, renewals, billing and dunning, updating customer data, cover changes etc. All policies, (along with all IBSuite data), are versionized in the system, allowing several members of staff to carry out changes to the same policy simultaneously and still maintain the full integrity of the data.

Insurance Solution for MGAs

Managing IT projects all the way from requirements specification to deployment on own hardware can be challenging for organizations with scarce IT-resources. Therefore, IBSuite is designed with focus on quick and agile implementation, and is deployed as Software-as-a-Service with a subscription model aligned with the generated revenues.