Overview
PASS Insurance is the comprehensive, component-based core system that supports the entire insurance cycle with multi-company, multi-territory, multi-currency and multi-language capabilities. PASS Insurance manages the definition and lifecycle of insurance products and the end-to-end functionality of sales, post-sales and accounting processes for motor, non-motor and life LoBs. PASS Insurance is a fully integrated and highly configurable suite based on a modular architecture and a unique data model. The system has a single point of access control and user profiling, a single centralised database and a single product configurator.
Key Features
The complete PASS Insurance suite consists of the following modules
- Core modules for P&C, Life and Claims Management, covering the entire policy lifecycle: the sales process (quote, offer, policy issue), policy management (administrative changes, technical changes, refunds, cancellations) and automated processes, for the different lines of business: P&C (motor and non-motor, personal and commercial lines), Life (human life risks, capitalisation, unit/index-linked, dread disease, long-term care policies, pension, etc.), Claims (a complete set of claims business processes; claim opening and claim management).
- An omnichannel digital front-end, a sophisticated social network inspired digital front-end with an innovative user experience to access the business logic of the other modules in a user-friendly, customisable and modern way. The fully responsive GUI (Graphical User Interface) allows a high degree of customisation and an efficient and intuitive workflow.
- PASS Customer, a self-service area and operation with services to improve the policyholder experience.
- A bundled insurance solution that allows the issuance of different products (multiple policies) across LoBs, even belonging to different policy administration systems, in a single issuance flow.
- Product configurator and rating engine for managing all aspects of insurance products, as well as a needs and wants questionnaire for in-depth customer profiling.
- Print configurator and engine providing a web-based interface for document composition and production.
- Common Cross Modules: Designed to provide a seamless connection between all modules and an easy to maintain management and configuration of the business logic. These modules allow the management of the customer database, technical accounting and the sales network.
- BI & Analytics tool for business intelligence and data extraction and visualisation.
Key Benefits
Powered by an advanced service-oriented architecture and best-in-class configuration capabilities, PASS Insurance sets the standard for adaptability, reliability and time-to-market. PASS_Insurance combines all core insurance processes and lines of business into a cost-effective, flexible underwriting and distribution solution that empowers insurance professionals to respond and adapt to market changes faster and better.
The key benefits of using PASS_Insurance are
- A customer-centric vision with a centralised view of personal data, quotes, contracts, etc. of all parties interacting with the company (customers, prospects, claimants, partners, etc.), improving customer relationships and streamlining service processes. All information is properly segregated to ensure visibility to the right users and in compliance with data protection regulations.
- Distribution network management, which allows the company's organisational structure to be defined and managed according to configurable rules, software security and authorisation levels, ensuring organisational efficiency and performance monitoring. In addition, the management of multiple companies on the same platform, with multi-currency, multi-country and multi-language configurations, allows centralisation of processes and a single view.
- Management of all lines of business, ensuring the ability to create cross-line products that share a common accounting system to ensure a centralised and consistent view of all the company's transactions.
- Flexibility and efficiency in configuring and managing insurance products and business rules, optimising overall time to market. The solution is designed to respond quickly to new market opportunities by facilitating the process of developing, testing and launching new products, distribution and commission rules. All lines of business share a common product factory, database, metadata, technical accounting, etc.
- Compliance with local laws and regulations, embedded in "local layers" completely decoupled from the rest of the platform. It is already available for several countries (e.g. Italy, France, Tunisia, Germany, Ireland, Romania, ...) and can be adapted to new regulations in specific client contexts. It covers the risk of sanctions associated with the various regulatory regimes.
- Ready to become part of the company's ecosystem, thanks to online and offline integration modalities, exploiting interworking to create value. Typical third party systems we integrate are General Ledger, Document Management, Data Warehouse, existing web portals and other components required for the specific business process from a multi-channel perspective.
