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Prime Insurance Suite

Solutions

Complete solutions for your Unique Insurance Business

Prise packs a set of independent and preconfigured components which can either be integrated as an end-to-end solution to support the insurance life cycle or as individual modules to fit the needs of your business.

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Prise Policy

The Prise Policy module allows you to add accounts, create quotes and policies along with the administration of the policy and its processing.

This module is available and hosted as a Web application or can be hosted on the cloud. The Agent portal is integrated into the Policy Administration System to support Agents and Direct customers.

Features
  • Supports all policy transactions from Quick Quote, Policy Submission and Bind, Endorsements, Renewals, Cancellations, Reinstatements and Rewrites.
  • Standard Policy Statuses and next Actions allow customers to configure the workflows as per their need and bypass the policy statuses which do not match their business need.
  • Automated out-of-sequence endorsement is an additional feature.
  • Supports both manual and automated policy processing.
  • Issues and stores all policy data and documentation as per the product model.
  • Offers role-driven dashboards for Carriers, Agencies, Brokers and other Distributors.
  • Integration with inbuilt underwriting module, rating module and forms module delivers fast responses from each supporting module and complete the quote/policy transaction in no time.
  • Provides flexibility to integrate with any external system as well.

Prise Forms

The Prise Forms module allows you to integrate your existing legacy system, based on your need. This is a built-in module within the product configuration module.

Features
  • No Programming is needed for attaching forms and printing data on forms.
  • Generates policy data as tokens and prints the real-time policy data on forms.
  • Easily uploads rule-based forms.
  • Maintains a repository of Base forms, Coverage forms, ACORD forms, exclusion forms for various product lines and maintains them separately in different file subnets for ease of access.
  • Can integrate with multiple policy processing systems primarily through APIs or XMLs.
  • Organizes forms according to the form type.
  • Allows configuration of forms for the printing of policy data as per the existing (customer’s) templates.
  • Generates placeholders or tokens to be placed on the forms for policy data at the time of form generation/printing.
  • Attaches forms based on the user-defined sequence.

Prise Rating

Speed up your existing policy processing systems by integrating with the Prise Rating module.

The Prise Rating module is built on the Drools platform and allows the maintenance of multiple rating tables without duplication. This module delivers faster response and improved performance due to the execution of rule-based rating steps, which in turn increases the hit rate and ensures better performance.

Features
  • Allows business users to build rating algorithms for their products.
  • Uploads rate tables as excel sheets and maps them to the rating steps.
  • Delivers greater version control to avoid rating errors and premium leakages.
  • Enables comparisons through dual or parallel-rating feature.
  • Supports multivariate rating through rule-based rating algorithm
  • Maintains multiple rate levels for the same product with different effective and expiration dates.
  • Allows easy edits to the rating algorithms and rate tables with effective data-driven logic to avoid rating issues during back-dated and future-dated endorsements.

Prise Underwriter

As multiple systems integrate with PRISE Underwriter, your business rules, regulatory rules, and user-specific rules can be configured in a single location and maintenance is made easy. The Prise Underwriter module is an independent module that offers the flexibility to integrate with any existing legacy system. This is also a built-in module within the product configuration module.

Features
  • Provides the Underwriting Workbench wizard.
  • Allows adding rules, build scorecards, workflows for review, referral and knock-out decisions.
  • Supports searching of existing rules, decision tables, and scorecards.
  • Allows modification of existing rules, decision tables, and scorecards.
  • Defines assignment rules and set due dates.
  • Automates referral and notification processes as per user group characteristics.

Prise Reporting

The Prise Reporting module allows users to generate the reports manually and also to trigger reports by defining the frequency of reports automatically. It also offers many standard reports and enables users to configure customized reports.

Features
  • Standard Reports
  • Agency commission reports
  • UW Referral reports
  • Quote to Policy conversion reports
  • STAT reports
  • Coverage information reports
  • Daily transaction reports
  • User-defined reports

Administration Portal

The Administration Portal in Prise allows the admin to define Carriers, Agents, Brokers, Distributors and their business information along with mapping their producers and products.

Features
  • Allows you to create an organizational level hierarchy by mapping the carriers to Agencies, agents, brokers, and distributors
  • Maps producers to Agencies, with a bulk upload feature as an added advantage.
  • Commissions multi-level configuration.
  • Multilingual feature.
  • Configures Roles and Permissions against each User Group.

 

Insurers can also choose from any of the independent modules that include Underwriter Workbench, User management, Account management, Carrier Management, and Commissions Management.

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Headquarters

295 East Swedesford Rd.,
Suite 341
Wayne, PA 19087.

302-213-6990

Headquarters

295 East Swedesford Rd.,
Suite 341
Wayne, PA 19087.

302-213-6990

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