Functions of the Policy Management Software

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Functions of the Policy Management Software
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Table of Contents
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About Policy Management Software
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Functions of Policy Management Software

• Manage Multiple Lines of Business
• Automate Underwriting
• Generate Complete Policy Documents
• Provide Full-Versioning of Policy Management
  System

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Conclusion
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Introduction
Insurance Policy Management Software is a
comprehensive package that supports the core
operations of the insurance business. It
facilitates numerous activities including new
business, underwriting, distribution channel
management, policy administration, claims
management, insurance accounting, reinsurance,
etc.
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Functions of Policy Management Software
Manage Multiple Lines of Business
Automate Underwriting
Generate Complete Policy Documents
Provide Full-Versioning of Policy Management
System
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Manage Multiple Lines of Business
The Policy Management Software integrates
policies across lines of business including
Property and Casualty, Life Insurance, Health,
etc.
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Automate Underwriting
It automates the underwriting process making the
decision-making process easy and providing
support tools to make informed decisions.
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Generate Complete Policy Documents
The software generates complete policy
documentation including schedules, certificates,
cover notes, debit notes, wordings and
endorsements, and attaches it to the individual
risk.
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Provide Full-Versioning of Policy Management
System
It provides full versioning of the policy
management system giving the user ability to see
how policy looked at any point of time.
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Conclusion
Insurance Policy Management Software makes policy
management easy for insurance providers. It
automates the routine tasks increasing the
efficiency and accuracy of the work. The software
empowers business agility and enables efficient
regulatory compliance.
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