Life Insurance Policy Administration
Overview
InsurerMate© Core Suite is the next-generation core platform that transforms across the insurance value chain- insurance innovation, distribution, user experience and operation.
Bytesforce is an industry leading Insurtech. Recognized by Celent as a ‘LUMINARY’.
We provide Next Generation Digital Insurance CorePAS (including Micro Insurance Core) and Omni Channel Distributionfor All Linesof Insurance Business : General, Life, Personal, Commercial, Group, Reinsurance etc.
Four Key Differentiators:
- Arguably, the industry's most Comprehensive and Modern Digital Insurance CorePAS built on Open APIs (1200+)
- Cloud Native and Modular Architecture
- All Lines of Business(General, Life, Individual, Group, Personal, Commercial, Reinsurance etc) , and,
- All Products ( Traditional, Digital, Micro, Embedded etc)- on the same platform
3. All Front End Applications and Backend Systems run on the same Tech Stack/APIs- Another industry leading capability!
4. Multi-tenancy: Run core system for multi-country operations on ONE platform (for MNCs)
Key Features
Four Key Differentiators:
- Arguably, the industry's most Comprehensive and Modern Digital Insurance CorePAS built on Open APIs (1200+)
-
Cloud Native and Modular Architecture
- All Lines of Business(General, Life, Individual, Group, Personal, Commercial, Reinsurance etc) , and,
- All Products ( Traditional, Digital, Micro, Embedded etc)- on the same platform
3. All Front End Applications and Backend Systems run on the same Tech Stack/APIs- Another industry leading capability!
4. Multi-tenancy: Run core system for multi-country operations on ONE platform (for MNCs)
Key Benefits
a) 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.
b) Reduce Costs: We have delivered upto 66% ( approx) reduction in cost for our customers who adopted our Next Generation Digital Insurance Core PAS
With our Cloud Native and End to End CorePAS Suite built on Open APIs (1200+) you can reduce the TCO of a CorePAS deployment and the benefits multiply if you have global operations
c)Maximise Existing Investment: This is our modular approach to your growth imperatives as the saying goes - 'Proof of pudding is in eating it' !
You can start with a module - for example our Micro Insurance Core PAS to co-exist with your legacy Core PAS and we can still deliver the benefits of Embedded Insurance/ Event Driven Insurance/On-demand Insurance etc
d) 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.
e) Accelerate System Deployment and Reduce Time to Market: Our Industry leading layered API (1200+ out of the box APIs) based architecture comes with modularity & full configurability built into the platform. This helps in accelerating your System Deployment time by 3X-4X and in reducing your Product Launch time by upto 70% in some cases.
1) Speed : How much faster do we typically deploy ?
a) Core PAS 4-6 months for MVP phase covering 3-5 traditional/micro products, all core modules, compared to 1.5 year plus on average for other vendors in the market. 2-4 additional products can be configured and launched each month after MVP
b) Omni Channel 3-5 months for phase 1 covering 5 traditional/micro products, compared to 1 year on average for other vendors in the market. 2-4 additional products can be configured and launched each month after MVP
c) Micro Insurance 3-4 months for MVP Phase covering 3-5 micro products, compared to 1 year plus on average for other vendors in the market.2-4 additional products can be configured and launched each month after MVP
2) Time: How much quicker ? Time it takes to configure/launch products etc ?
70% quicker than other solutions.Time to launch a new product
3) Scale & Performance: How many policies system can issue per day etc ?
Highly scalable. Performance testing shows system can support 300k transactions a day without special tuning/house keeping required. Can support more by infrastructure upsizing
4) Availability: Availability Vs Traditional/Legacy Core system availability ?
Platform is designed for 7*24 availability.