InsurerMate© P&C CorePAS Suite

About Bytesforce:

Bytesforce is an industry leading technology provider of insurance solutions. Recognized by Celent as a ‘LUMINARY’ in the Core Policy Admin System( PAS) space, receiving the HIGHEST RATING across Advanced Technology & Breadth of Functionality.

We provide Next Generation Digital CorePAS Platform whereby All Products and All Channels are supported on the same platform.

Outstanding Implementation Success History for the Solution:

1) 100% implementation success rate for 20+ insurance company customers
2) 100% satisfaction ratio. All customers are willing to provide customer reference.
3) Fast platform launch: CorePAS Suite: 4-6 months full Core+Portals for 10 products in Phase 1, followed by 10+ products being launched every subsequent month
4) IT Cost reduction of 70% for local players and up to 85% for MNCs
5) In 3 months after launch, 80% customers see significant business growth, 100% customers see increase in efficiency and user satisfaction
6) 100m policies being transacted in 2024

All Products on One Platform:

1) P&C: Motor, Home, SME Packages, Fire, Engineering, Liability, Bond, Fidelity, Marine, Fleet, Aviation. All lines of business
2) A&H: PA, Travel, Health, Employee Benefits
3) Life: Term, Whole Life, Endowment, Savings, ILP, Universal, Takaful Family Plans
4) Embedded Insurance Products: Event-driven products, UBI, Telematics, PAYG and many more patterns

All Channels on One Platform:

1) Intermediaries: Tiered Agents, Financial Advisors, Brokers, MGAs
2) Bancassurance
3) Affinity Channels
4) Internet Channels
5) Direct to Customer
6) B2A2C
7) B2B2C
8) B2A2C

End-to-End on One Platform:

1) Modern Core Operations: Product Factory --> Quotation --> New Business / Underwriting --> Endorsement --> Renewal --> Claims --> Reinsurance --> Billing, Collection, Payment & GL Posting
2) Out-of-the-box Portals Empowered by Core APIs: Intermediaries Portal, Customer Portal, White-labelling Portals (B2A2C, B2B2C, B2C2C)
3) Powerful Data Middle Office for data analysis, reports and inquiries
4) Compliant with IFRS17, PDPA, AML and industry standards

Industry-leading Differentiators:

1) Arguably, the industry's most comprehensive and modern insurance CorePAS built on full internet techstacks with no legacy issue
2) Open API, cloud native and micro-service architecture, with 2,700+ APIs out of the box
3) One platform for all purposes, from back-office operations to intermediary portals to direct customer portals to eco-system adoption
4) One platform for all Lines of Business (General & Life, Consumer & Commercial, Individual & Group, Traditional & Embedded)
5) Multi-tenancy: Run core system for multi-country operations on one single platform (for MNCs)
6) High security, 7*24 availability and app/db scalability
7) The highly modular, 'plug and play' nature of platform ensures quick deployment with low risks

1) Deliver Growth : We commit to your growth. Limiting Factor should not be your chosen CorePAS for your business growth and digital transformation initiatives.

With our Modern & Comprehensive CorePAS Suite you can launch/run all lines of business/products on a single platform. Even the incremental growth avenues such as Stackable Insurance - Embedded Insurance/ Event Drive Insurance/On-demand Insurance etc are supported on the same platform. E,g, our client in Middle East achieved

2) Reduce IT Costs: We have delivered up to 85% reduction in cost for our MNC customers, and an average of 70% cost reduction for local players.

With our Cloud Native and End to End CorePAS Suite built on Open APIs (2,700+) you can reduce the TCO of a CorePAS deployment and the benefits multiply if you have global operations.

3) Reduce Operation Costs: The modern core encouraged seamless data flow and automated processing that saves operation costs tremendously, with improved TATs.

100% of our clients see significant reduction in operational cost, especially in underwriting, policy fulfilment, reinsurance, billing, claims and financial reconcillation. The TAT for key business transactions has improved by 40-70% for various clients

4) Improved Customer Satisfaction : Through the STP, improved TATs and a modern / comprehensive customer portal, together with omni-channel experience on the platform, the customer satisfaction level was greatly improved after implementing the solution.

E.g., one of our strategic client increased conversion ratio by 3 times after introducing the improved customer journey.

5) Speed to Market : The inbuilt no-code capability on the platform makes it easy for business users to create, uprgrade or white-label products & schemes in no time.

On average, the configuration and testing of a new product takes less than one week. White labelling and testing of schemes can be completed in one day.

6)Low Risk Implementation with Quick Business Benefits: This is our modular approach to your growth imperatives.

Our clients can either start with e2e coreplatform for a few lines of business followed by product launches by batches, or start from 'multi-channel distribution' and evolve into a full core later. Quick business benefits can be achieved within initial implementation of 3-6 months.

7) Deliver What We Promise: 100% customer reference so far and word of mouth. We focus on creating and increasing customer lifetime value. This is predicated on our customer centric approach aligning ourselves to what matters most to you and your business.

8) A Scalable, Secure and 7*24 Available Platform: The solution is multi-tenanted, and highly scalable at both app and db levels, support up to 1 billion transactions a year without special tuning/house keeping required. It is cloud native and passed strict security testing and regulatory requirements in mainstream markets.