Insure3 Policy
Insure3 Policy is a member of Castek’s family of flexible, core business handling software for property and casualty (P&C) insurance carriers. Insure3‘s integrated, yet loosely coupled systems, directly enable business users and take information technology off the critical path of strategic corporate initiatives. They are designed to empower insurers to aggressively pursue new business strategies, capitalize on market opportunities, and introduce cost-saving efficiency and effectiveness while being seamlessly supported by technology.;Insure3 Policy consists of the following modules:;INSURANCE CUSTOMER INFORMATION;PRODUCT CONFIGURATION TOOL, AND;POLICY ADMINISTRATION SYSTEM
Features
- » Entire Policy Processing Lifecycle
- » End-User Product Configuration
- » End-User Process Configuration
- » n-tier Architecture
- » Performance tested for 2MM Personal and 300K Commercial Policies
- » Handles All Lines/States in U.S. for P&C and non-equity Life
- » Supports Global requirements
Chinese,
Korean,
English
Supported Technologies
MVS(OS/390),
Windows 95/98/ME,
Windows XP/2000/NT
Oracle,
IBM DB2,
Microsoft SQL Server
4GL,
COBOL,
C/C++,
HTML,
Java,
WebSphere,
XML
Software, Web-Based (Browser)
Click on a technology to view similar products within this category.
Pricing
Other
insurance@castek.com
1-866-9CASTEK
Castek is an Advanced Business Partner of IBM, and has business partnerships with PricewaterhouseCoopers, Siebel and CGI.
Resources
Additional Product Information
Insure3 was designed to maximize value to insurers by streamlining both the day-to-day back-office policy administration process and solution customization and implementation. Key benefits include:
-Reduced time-to-market for new insurance products
-Technology-enabled relationship management
-Efficient policy processing
-Rules-based / Data-driven design
Tailoring Insure3 and integrating it with your current environment is streamlined due to these features:
-Component-based design
-Multiple user interfaces
-Starter configuration data
REDUCED TIME-TO-MARKET FOR NEW PRODUCTS
Insure3 minimizes the cost and effort of new product introductions by taking the IT effort required for product changes and implementations off the critical path. This makes customer-tailored products and niche market products more economically feasible.
In systems where information is hard coded into the program code for each line of business, small changes needed to keep product lines current can take months to make. In a highly competitive, constantly changing market, this can be prohibitively expensive.
Insure3 is designed to store business rules, products, rating formulas and other information about products and how they relate to each other as data rather than program code. Changes to product definitions and relationships can be made using graphical user interface (GUI) windows, enabling implementation of product innovations in much shorter cycle times and with minimal, if any, programming changes and no system downtime.
Examples of this are:
-Limit change – 15 minutes
-New coverage option – ½ day
-New Line of Business – weeks not months!
TECHNOLOGY-ENABLED RELATIONSHIP MANAGEMENT
Customer-centric views in Insure3 allow for complete portfolio selling and management. For example, when viewing a customer, insurers can see at a glance if an auto customer does not have homeowner insurance, if a homeowner insurance customer also has life insurance policies, or whether a small commercial customer might be a good prospect for your new BOP policy. You can also relate customers to specific associations or other groups to manage special marketing campaigns.
Customer-based billing provides multiple payment options and allows offering customers consolidated billing with flexible options.
EFFICIENT POLICY PROCESSING
The user interfaces allow access to information about customers and policies in order to answer questions or begin a sales process with complete information about the customer and their product holdings. The customer-centric design puts all information about each customer together in one place. You do not have to access multiple systems to find the information you need. Related information is grouped on single dialog boxes or windows so you can easily move from one to another by clicking a button or selecting a menu item.
RULES-BASED / DATA-DRIVEN DESIGN
Insure3 CUBEs are designed to store business and processing rules in the form of data instead of code. Most system change requests can be accomplished using simple data maintenance windows instead of complex coding/testing/implementation cycles.
COMPONENT-BASED DESIGN
The modular design of Insure3 and its well-defined boundaries limit the impact of code changes, making it possible to implement system changes easily and quickly, and often only in one place. Well-architected internal and external interfaces allow you to preserve benefits from parts of your existing solution that can continue to meet your needs, as well as take advantage of future innovations (i.e. plug-and-play capability). In addition, this design promotes efficient and effective upgrading to new releases of Insure3 because customizations are made outside of the core product.
MULTIPLE USER INTERFACES
Insure3’s client/server design with “thin clients” facilitates creation of multiple user interfaces including web-enabled, kiosk or broker-specific batch and real-time interfaces.