Insurance software development

The necessity of software development for insurance companies

Nowadays government agencies and commercial companies with a large paperwork volume strive to optimize the processes of resources management, making reports and maintaining various tasks. To accomplish all of this without using computer technologies is impossible. Individual insurance software development – is a unique tool for optimizing working processes.

For the companies, that provide insurance services, software development in accordance with individual business requests is turning into one of the competitive advantages as it allows to significantly reduce the time for order fulfillment and for business processes improvement.

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Program units for optimization of business processes, delivered by computer software

Insurance program unit integrates all the processes, reduces time on an insurance policy issue, makes selling insurance policies manager’s work extremely time-efficient. The System gives the opportunity to register multi-object contract insurance contracts, setting fixed insurance coverage, price rate and payments for every single subject of the agreement separately.

Reinsurance

There is a possibility to reflect optional and obligatory reinsurance, register incoming and outgoing reinsurance contracts and make changes to them. Shape a fact-based planed analysis of the payments and on an actual analysis of payments and expiration dates of the reinsurance contracts.

Settlement of losses

Automatization of the losses settlement process reduces the specialist’s working time and saves the client’s time. Insurance software development allows registering all information about an insurance case, starting from notification to the closing of the insurance case. Programs can, as well, give an opportunity to analyze unprofitability, in terms of insurance types, risks, policy holders (reinsured), subjects of insurance contracts.

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Finance, accounting, staff

Automatic report generation for state financial agencies. Reports for the tax inspection and pension capital fund. Report on financial indicators for all branch offices or each separate branch. A combined report on the main areas of activity of the insurance company (insurance, reinsurance, out payments, etc.) is quickly generated. Reports on balances and turnover, deposit accounts and percentages on them, account books of strict reporting.

Development stages

1. Preparation. Collection and processing of the requirements. Preliminary stages of work, terms, resources and insurance software development cost planning.

2. Obtaining technical assignments, developing specifications. The partner receives a documented description of his requirements and work plans.

3. Engineering computer software.

4. Development for further configuration.

5. Insurance software design — obtaining the design schemes, visual forms, development of interfaces. Creating an individual style.

6. Coding — is writing of the source code.

7. Testing — checking insurance software system for compliance with all requirements to it.

8. Documentation — handover of all the accumulated knowledge to the users and to other developers.

9. Implementation —  insurance software application installation, user instructing.

10. Support — correction of the identified errors, users support.

The functional insurance software system

The right software allows to solve a wide range of tasks, first of all, it is the insurance companies’ automation to achieve the main strategic business goals.

A complete history of interactions with clients:

• Contacts

• Connections

• Insurance policies

• Insurance incidents, damages

• Marketing influence

• Negotiations and calls

• Workflow

• Correspondence

Sales management

• Planning sales by insurance type, by product type, by segments, by managers

• Work with different clients segments according to business processes

• The funnel of corporate sales

• Stages of negotiations

• Following the regulations

• Cross-selling

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Customer Service Management

• Registering all the client dressings and requests

• Automation of insurance operations

• Interaction with the client during the policy validity period

• Reminders about the expiration date of the insurance policy

• Product portfolio monitoring is to its profitability

Marketing Management

• Customer segmentation

• Planning the marketing influence

• Evaluation of the marketing initiatives effectiveness

• Working out the loyalty programs

• Automatization of direct newsletters mailing

• Creating a unified library of marketing materials

Call Center — Call Management

• Caller’s card display on the operator’s screen

• Register of all incoming/outcoming calls

• Analysis of the call-center managers’ performance (number of calls, the average duration of calls)

The main advantages of professional insurance software development by KATASIS

• Taking into account individual features of the insurance object, the client’s interests and wishes;

• significant enlargement of the insurance coverage compared to typical insurance software systems;

• a narrowed list of obligations of the insurant according to the contract — only the most essential;

• clearly specified a course of the parties’ actions on the occurrence of the insured event (including the sealed list of documents, required for the obtaining the insurance payment), excluding the possibility of unspecified delay of the insurance payout period by the insurer;

• the insurance payment model is determined by the policyholder;

• optimal correlation of quality-to-price;

• the possibility of supporting the signed contracts by our company highly qualified specialists, including direct participation in the insurance cases settlement.

The profound knowledge in the field of insurance law, the study of foreign experience, the analysis of our own experience of many years gives us the opportunity us to develop insurance for software products, superior in quality to our competitors, available on the market.