InsureIT

Rapidly build an attractive eBusiness Quote and Buy front-end for consumers and partners.

InsureIT is a comprehensive eCommerce Framework for General and Life Insurance. It provides insurance companies and brokers with a fast, efficient and easy way to build web-enabled insurance products. With InsureIT you can develop a truly interactive web presence which links seamlessly to your back-office system. InsureIT’s sophisticated rating engine is available for separate licensing as a snap-in component for existing insurance applications.

Overview of InsureIT modules

Overview of InsureIT modules

Extend your Reach

Insurers today need to connect directly with their prospects, customers and channels to market. This applies equally across life and general insurance, for both commercial and personal lines. With InsureIT you can rapidly extend your reach. Potential customers can self-assess their insurance requirement against your offerings. Secure self-service access by brokers and agents is also supported. The result is more new business without compromising on quality.

Manage the Quotation Process

InsureIT’s question sets are tailored to your requirement for each product. Asking the right questions in the right sequence streamlines the process and respects the customer’s allocation of time and effort. Unacceptable risks can be automatically recognized and rejected. Borderline cases can be referred to your call-centre. Otherwise immediate quotations are provided, with confirmation emails and documentation. Prospects can store quotations on-line and return to them at their convenience. If assistance from the call-centre is required, your staff can access quote data to advise the customer over the phone and update status. On decision to purchase InsureIT collects any additional policy information required.

Enhance your Rating Capability

Just as accurate risk assessment is vital to your profitability, so is setting the premium appropriately for each risk you accept. With InsureIT’s sophisticated rating engine, you can attract the right business by issuing competitive quotations while discouraging adverse selection. InsureIT’s rating can be a combination of points-based, percentage-based (discount or surcharge by percentage) and value-based (discount or surcharge by a fixed amount). You and your underwriters define the rules and rates on a hierarchical basis via control tables. Self-maintenance means you can quickly respond to change in the risk classification landscape and to competitor activity. InsureIT also allows you to use external rating engines with this choice being available by product.

Integrate with your Back Office

If your website is stand-alone you are missing out on the benefits of integration and straight-through processing. With InsureIT when a prospect accepts a quotation the captured data flows directly through to new business registration in your policy administration system, eliminating error and the cost to you of rekeying.

Easily Configure your Web Presence

With InsureIT you stay in control of the customer interface. Presentation templates act as a starting point. You define the questions to ask and their sequence. You also define field validation rules and navigation from page to page. The end result is a highly configurable web presence which you can maintain and enhance as required.

Enjoy LANSA’s Technology Advantage

InsureIT’s framework is developed using LANSA’s award winning and highly productive development tools. As a result InsureIT is rapid to deploy and easy to maintain, and your website easy to customise. Integration with other applications and corporations is also simplified, whether by XML, EDI, other data formats or web services.

For more information visit: www.mdc.ie/insureit/index.html

InsureIT

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