Overview
Evitec Life (formerly known as Profit Life & Pension) is a core policy and claims administration system specifically design for life insurers. In Evitec Life a life insurer manages the whole product range, savings, pension, and life risk, side by side in one system. Evitec Life covers sales, care and claims phases. The platform includes services, tools and system integrations to effectively run the daily business and to fulfil the regulatory demands.
Key Features
SUPPORTS LIFE INSURER'S WHOLE PRODUCT RANGE
- Saving insurances
- Pension insurances
- Life risk insurances
- Products combining pension and life risk, e.g. occupational pensions schemes
SUPPORTING DIFFERENT TYPES OF SAVINGS
- Capital redemption
- Unit linked
- Base rate
- Defined Benefit schemes
- Defined Contribution schemes
LIFE RISK COVERS
One time payment covers
- Death
- Critical illness
- Permanent disability
Daily allowance payment covers
- Temporary disability
- Hospitalization
Cost based payment covers
- Medical expenses
AGREEMENT AND RISK COVER STRUCTURES
- Individual insurance
- Joint insurances
- Group insurances
RISK CLAIMS MANAGEMENT
- Lump-sum claims
- Recurring claims
- Cost based claims
- Case handling
COMPREHENSIVE SET OF PLATFORM SERVICES
- Policy management
- Investment management
- Client data management
- Insurance calculations
- Service API's for self-service and 3rd party integrations
- Omni channel support
- Invoicing
- Printout generation
- Processing of in- and out-payments
- Commission management
- Bookkeeping
- Reporting
Key Benefits
OPERATIONAL EFFICIENCY
Modern platform providing a large number of services supporting business processes automation and rules based decision making.
DIGITALIZATION
A full range of Application Programming Interfaces (APIs) enabling expansion of the digital customer journey.
REGULATORY COMPLIANCE
Built-in regulatory compliance supporting EU and local requirements.
MARKET FLEXIBILITY
Scalable solution for growing volumes. Flexible solution for new and changing product features. Standard solution, which can be modified to adapt to customer specific needs.