Policy Management
A fully integrated policy lifecycle management solution for insurance industry
At the core of any insurance business is the policy management system. It can no longer be just the back-office system for storing and managing policies. It needs to be able to meet the contemporary needs of the insurance industry and be able to stay relevant in an increasingly competitive, diverse and fast-paced industry.
Contemi Policy System can fulfil these needs. It is designed from the ground-up to meet the current focus on digitalisation and to be well positioned to adapt to the next industry trend. At its heart is full life-cycle support from quick quote to policy, optional MTAs and through to renewal – and naturally accessed as a web-based system.
Business Benefits
Increase Efficiency
Enter a minimum of information to get a quote
Find and get access to customers, quotes and policies quickly
Streamlining of the issuance process to get the policy to the customer fast
Adaptable
Able to handle all types of insurance products for the private and commercial markets in the same installation
Easy to adapt to different customer and sales models, including web portal and mobile app based self-service solutions
Developed for digital business models and integrability with other systems
Role based permission driven with feature switching to align the system to your processes
Flexible product maintenance
Enable Growth
The system will scale as your business grows. Contemi Policy System has been re-designed from the ground up to be highly performant and scalable.
Quick to add new direct, partnered, brokers and call-centre sales channels
Pain free branding (white labelling) for sales channel's documents and emails
Improved Self Service
Using our “soft versioning” technique our customers can update pricing factors, lookups (e.g. car make and mode) themselves
New sales channels can be added as needed
Document templates and email templates can be modified to reflect changing business requirements, previewing possible with different data sets
Control over which products can be sold on each sales channel
Capabilities
Insurance Process
Flexible sales process, policy fulfilment, optional (multiple) policy adjustments, renewals, policy cancellation and termination processes
Ability to import pre-sold policies
Ability to alter the start and end date of a policy
Multi-carrier support
Multi-cover per product as well as multiple risks per product
Calculated or manually maintained premiums
Control
Start date and end date can be set for when a product is available for sales (by channel)
Easy to add and configure user roles and respective permissions
Flexible organisational structure used to control which quotes and policies a user can access
Easy to add purchase constraints with role-based approval process
Highly flexible control of user interactions for data gathering
Event history (audit) of all actions affecting a customer, their quotes and policies
Financial
Support for multiple taxes and fees per product
Written and Earned premium transactions available
Multiple payment methods and schedules plus the ability to customise payment schedules
Broker commission and fronting company fees – as percentages or absolute amounts
Multi-currency support
Integrations
Seamless integration with other Contemi systems, incorporating Single Sign On
Able to integrate with external identity providers, motor registries, credit checks, etc.
Messaging framework to enable bespoke processing
