5 reasons you need Ebix Advantage Web!

Insurance sector is going though a tremendous transformation. In the new-age insurance industry, it has become easier to conduct business; relationships have improved a great deal and credibility too has taken a big leap.

A similar revolution is underway in the world of Property and Casualty Insurance. The best thing is, there is no dearth of solutions. Insurers have flooded the markets, making available a number of options available for customers.

Muddled in a wide range of products and services, it is not an easy job to seek the right solution. Despite cut-throat competitive world, there are certain enterprise insurance administration systems that stand out. What differentiates them from the rest? Here’s what to look for in a processing system property and casualty carriers.

All-inclusive Design

When it comes to Property and Casualty industry, design is key for an Insurance Solution to cater to the requirements. A seamless design is one that is fully-integrated makes allocation of functionality, policy administration, processing Carrier’s claims, accounting needs relatively simple.

Best-in-class User Experience

Easy navigation or interface for users is a must. There must be a single source database, which has one entry for most data irrespective of the functions that are to be exercised. The interface should be able to integrate all the data, policy-related information such as policy details, photos and documents and should give an easy system-wide access of all data at any given time.

Impeccable Functionality

The core of any insurance solution is its functionality. Users expect logical end-to-end processing workflow with ease. Moreover, it must give users options to integrate their existing insurance applications and third party data sources, while rules-based and table-driven product-builder function facilitating development or modifications to insurance products and lines of business with requisite programming changes.

Tailor-made/Custom Functions

There may arise a compulsive need to make program changes anytime. Just not easy modifications and changes, the modular design and construction techniques should streamline the design and testing as and when needed.

Built-in Data Exchange

If a product is powered with a built-in data exchange, it enables data download between carriers and agencies/brokers. The system integrates several workflows within a single system, including workflow based diary system, client management accounting, prospect accounting management, policy insurance management, claim settlement, agency interfacing, agency interfacing, document generation and much more.

In a nutshell, quick implementations, comprehensive functionality and hassle-free integration of work is all that makes a processing system for property and casualty carriers.

Ebix Advantage Web, a Software as a service (SaaS) platform, helps cater to the complete range of general insurance activities such as Policy Administration, Claims management, Dynamic rating and quoting, Management Accounting, Document Management. Moreover, the modern enterprise carrier system provides an option for comparative quoting for direct broking operations of Insurance Carriers, MGA’s and Brokers.

As part of the agency or broker solutions for the property and casualty market, it is one of those key software solution that helps in managing the entire lifecycle of a policy. Being an enterprise-wide product, it has a range of key functions comprising policy production, front-office management, customer correspondence, real-time data exchange and business intelligence.

Keeping in mind the diverse requirements for the Brokers and Agents within the property and casualty market, Ebix offers a wide range of products and solutions. These include Internet-based ASP model Management system specifically designed to handle various sized Agencies and brokerage houses, document management system for insurance agents and providers, e-Commerce enabled client- centric applications, web-based financial services solution for CRM, practice and agency management, and much more.

Ebix Inc. is one of the 70 top-rated Life insurance companies that powers more than 10 million life sales illustrations every year.