Enterprise Platform

InsPro’s enterprise policy administration system supports end-to-end insurance processing requirements, and is comprised of both core system components and cross-functional system components that support or extend core component functionality. While we do not decouple our product engine/policy administration component, we readily accommodate clients who prefer to use their current systems, for claims or portals for example, rather than InsPro’s modules.

Supporting Individual and Group Life, Health, Senior Supplemental, Annuity, and Hybrid Products

2014-Components-Overview

InsPro Enterprise Core System Components

Product Configuration

  • Add new products quickly and easily, helped by simple configurability and a wizard-based setup
  • Define rating criteria and plan characteristics, including state variations
  • Identify benefits for rating, claims or both
  • Price optional and inherent riders individually or bundle into base pricing

New Business and Underwriting

  • Individual or batch web enrollments/applications
  • General and product-specific functionality based on predefined rules to reduce errors
  • Automated underwriting based on age, gender, height/weight, occupation, volume and other criteria

Policy Administration

  • From quoting to billing, web-based functionality supports day-to-day customer service activities
  • Easily track financial and non-financial history
  • Automatically trigger correspondence based on scheduled events

Billing and Collections

  • Supports all common premium modes, as well as unique payment terms to meet the diverse payroll needs of worksite clients
  • Examines each policy to determine events and their related timing during billing, follow-up and termination processes
  • Processes cash and non-cash transactions, including list bill payments, EFT payments, salary deduction, credit card payments, and internal policy accounting

Commissions

  • Track agent licensing, contract relationships and hierarchies
  • Calculate commission payments and schedules, including commission advances, periodic commissions and split commissions
  • Generate agent statements and checks or interface with Corporate Commission system

Claims
InsPro Enterprise processes claims for Life (Whole & Term), LTC, Med Supp, and all other Health products (e.g., Accident, AD&D, Critical Illness) and provides:

  • Claims management from opening to settlement, preview claim payments, authorize repeat payments, perform adjustments, and stop/void checks
  • Integration with clearinghouses and automated adjudication associated with high volume claims processing products, such as Medicare Supplement
  • Advanced functionality to support full claims history with payment details

learn more > InsPro Cross-functional System Components