InsureEdge Solving the business challenges of P&C Insurance Companies

Today Property and Casualty (P & C) insurance industry faces numerous challenges in order to pursue their business growth and maintain profitability. Their path to profitability is increasingly being challenged by rising costs of operations, regulatory pressures, improper business-IT alignment, outdated technology infrastructure and inflexible enterprise architectures. Besides, insurance companies often have manual and repetitive entry processes, longer policy handling cycles, inefficient application processing and high printing costs which all result in a lot of pressure on business.

Based on its strong experience of working with a lot of P&C Insurance companies, Damco is conversant with most of the challenges facing the Property and Casualty (P & C) insurance industry today. We take pride in our rigorous technology capabilities as well as domain expertise on P&C Insurance. Leveraging our extensive experience of working with various insurance companies, Damco has developed InsureEdge - a solution framework for property and casualty insurance providers which:

• Help them optimize their processes
• Reduce turnaround times for application processing and claim settlement
• Manage agencies efficiently
• Enables them to gain customer satisfaction

Damco framework for property and casualty insurance providers is backed by our flexible implementation approach and robust production support methodology. The stringent focus that we place on quality and CMMi compliance is deeply embedded in this solution framework. InsureEdge is an extremely efficient and robust implementation of our solution framework for P&C Insurance Industry.

It is highly scalable, stable and reliable and has a wide coverage of functionalities. The various Modules in InsureEdge include:

InsureEdge Benefits:

• Feature-Rich Framework
  InsureEdge has a feature-rich framework which has been designed for today's competitive rapid application development (RAD) environment.
• Scalable Architecture
  Underlying architecture accelerates the development and customization efforts considerably because most of the functionalities already exist; only the specific behavior needs to be customized for the particular requirement.
• Synced Solution
  InsureEdge has tight links between product management, underwriting, policy processing, reinsurance and claims systems.
• Third Party Integrations
  There is provisioning for integrations with third parties to rationalize the quote and policy process considering the defaults/ claims on driver/ vehicle.
• Self-Provisioning Portals
  InsureEdge has self-provisioning portals for all roles including agents, adjusters and end users.
• DMS
  There is provisioning of document management system (DMS) to save cost on policy printing, postage and handling.
• IT and Business Synergy
  InsureEdge ensures better collaboration between business and IT by increasing standardization and automation of workflows, rule driven processes and business processes.