Today’s severely competitive market has made it difficult for Property & Casualty (P&C) insurance players to maintain a steady growth rate. They have to set up property structures for new customers within hours, compared to weeks a few years back. They are required to Web-enable their systems to give access to remote users such as Agents and Brokers. Rising incidences of fraud cases also affect their business.
P&C insurance players have to allow their customers to manage property issues online. Most players have different applications on several platforms and databases, making it difficult for customers to track claims. These legacy systems are costly to maintain, and too complex to be merged with new technologies, which necessitates prolonged manual activities and overnight batch cycles.
PREMIA Property & Casualty is a proven property and casualty insurance software designed meticulously for overcoming these hurdles. It supports underwriting / policy administration, rating, billing, claims and reinsurance, with comprehensive financial accounting, reporting and analyses features. A part of the PREMIA suite, the property and casualty insurance software is popular among global insurance companies.
The property and casualty insurance software covers business lines such as personal auto, homeowners, commercial package, professional liability, workers compensation, etc. It allows you to create and launch unique products across these lines.
The property and casualty insurance software helps minimize losses caused by frauds. It is equipped to detect fraudulent claims before they are paid, and is also useful in evaluating underwriting risks. Its enterprise identity management features allow you to manage identities of vendors, customers and employees, thereby, preventing identity frauds.