Policy Administration

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News from 2009 IASA Conference: Sapiens Offers Policy Admin System for Small & Mid-Sized Carriers

News from 2009 IASA Conference: Sapiens offers policy admin system for small & mid-sized arriers; Web-based modular suite supports personal, commercial and specialty lines.

Cary, N.C.-based Sapiens released Sapiens INSIGHT Express for P&C, a modular policy administration suite targeted to small and medium-sized carriers that provides policy, billing, claims and reinsurance modules, as well as other components such as imaging and correspondence. The modular suite allows for quick implementation, typically 90 days or less, according to Sapiens.

The solution's service-oriented architecture provides a complete Web services library of all key features and functions. Using customer and agent portals, or their own portals, carriers are able to build and extend functionality as needed. For example, the P&C policy module offers out of sequence and cross-term endorsement processing, full audit capability, comparative rating, configurable screen flows and the ability to process personal, commercial and/or specialty lines of business. The billing module provides for equity billing, direct bill, agency bill and/or account bill. The system's claims module offers complete claims tracking, including reserves, payments, expenses, salvage, subrogation, losses by peril and sub-peril, adjuster notes, 1099 tracking, catastrophe, field checks, claims correspondence and standard reports.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio

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