PREMIA Life Insurance Software Solution
Developed on the latest Oracle platform, PREMIA Life is an award-winning, end-to-end solution that enables life insurance companies to stay ahead in a rapidly changing business environment. With a powerful suite of inbuilt tools for all insurance operations from underwriting and claims processing to financial accounting, this dynamic bi-lingual and multi-currency solution dramatically cuts costs and time-to-market with innovative process automation, delivering long-term benefits.
- Proposal-to-policy conversions
- Integrated new business, policy administration, claims, and finance modules
- Financial underwriting
- Medical underwriting
- Batch underwriting
- Agency management
- Auto RI allocations
- Auto financial accounting
- Image and document uploads
Key differentiators
- Flexible and dynamic components and tools that can be easily adapted to any business requirement
- Integrated risk-analysis tools
- Innovative product configurator with tariff and formula components to set up complex premium ratings
- Deployable in both Internet and intranet environments
Key business benefits
- Improved productivity and shorter time-to-market with automated business processes, market-ready products, standard checklists, and minimal data entry
- Reduced business costs
- Complete business view at all times with integrated modules
- Smarter business decision-making with advanced insurance analytics and reports
- Increased flexibility and scalability with parameterized tariff and calculation tools, resulting in quicker service cycles and reliable data entry
- Efficient handling of voluminous transactions and documentation requirements
- Enhanced fraud prevention with transaction auditing capability
PREMIA Life can also be deployed with Oracle Database 11g Release 2 and Oracle Weblogic Server 11g R1.