Significantly reduce time spent on mid-term adjustments, renewals, view financials, update customer data and apply coverage changes.
All policies are versioned, and caseworkers can work on the same policy simultaneously while IBSuite ensures full data integrity. Changes are automatically logged, providing a historical record of changes and who made them. Users can also add notes to individual policies to facilitate a full customer policy overview.
Premiums, fees and charges are calculated with the same calculation engine, using exactly the same validations, constraints and other product-specific components. A standard fee structure is handled and applied to the policy charges through the billing engine, which is fully integrated with policies.
module to handle fee structures, pro-rata charges, etc.
The type of insurance product effects the process. All processes in IBSuite are implemented for automation, facilitating efficiency and speed. Because IBSuite is configurable, changes to processes are easy to implement.
In IBSuite, it’s easy to gain a historical overview of a policy: compare versions, coverage changes, and all mid-term adjustments.
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