PolicyCore
Underwriting and Policy Administration
Superior policy lifecycle management is the key to meeting escalating customer expectations and achieving market growth and operational efficiency. Exigen’s PolicyCore enables insurers to rapidly develop and manage products in response to market opportunities and business conditions. It also streamlines customer interactions and internal operations to grow new business, reduce process cycle-times and costs, improve ease-of-doing-business with distributors, and enhance underwriting results.
Exigen Edge
Product Factory – PolicyCore’s integrated Insurance product development and lifecycle management tool accelerates product innovation and market introduction while saving insurers the costs associated with the purchase and integration of separate system components.
Most Complete Functionality – PolicyCore provides end-to-end management of all policy functions and services within the industry’s most modern technology framework.
Comprehensive Account Summary – PolicyCore provides users – underwriters, brokers, sales and service agents – with an integrated, 360-degree view of customer and account information that dramatically improves productivity and customer service while fostering opportunities for up-sell and cross-sell.
Business Intelligence – PolicyCore’s built-in business activity monitoring service tracks all processes, activities, tasks, decisions, and transactions; enables business performance benchmarking and reporting; and facilitates activity-based costing to quantify measurable results.
Product brochure (PDF) >
Core Processes
- Rating
- Customer and Account Setup
- Application Data Collection
- Premium Calculation
- Quote Generation, Proposal, and Bind (optional)
- Underwriting (manual and automated)
- Automatic Quote and Policy Versioning
- Policy Issuance
- Inquiries and Customer Service
- Endorsements
- Cancellations & Reinstatements
- Renewals
- Reinsurance Administration
- Reporting
- Lifetime Value Calculation
- External Data Services
- Automatic Activity Tracking and Measurement
- Vendor Management
- Product Development, Configuration & Management
Core Features
- Support for all sales, underwriting and policy administration processes: new business, quotes, quote-to-policy conversions, rating and premium calculations (utilizing either PolicyCore rating engine or an external rating system), inquiries, endorsements, renewals, cancellations and reinstatements
- Supports links to external data services (motor vehicle records, inspections, etc)
- Straight-through processing from application to quote to issuance of policies, with minimal or no manual intervention
- Rules-based automated underwriting with user-defined authority levels for consistent application of bind and issuance authority and adherence to defined underwriting policies
- Embedded CRM providing “one view” of all customer-related information, such as: preferences, products and services, transaction history, current activities, relationships; integration of all sales and service channels; and pre-integrated CTI capabilities
- Smart Workspaces provide adaptive user interfaces that reflect individual profiles of each user (including roles, skill levels, scope of responsibility, and authorization) to substantially reduce user training requirements and increase individual performer productivity
- Integrated document management including automatic generation, capture and management of all documents related to a policy organized into electronic policy file folders
- Integrated business activity monitoring service increases accountability of performers, tracks processes for regulatory audit, supports performance management, and enables activity-based costing to enhance financial performance
