Known for their traditional business models and hardwired operations, insurance firms are facing new forces demanding significant change and new business strategies. Among them lies new competitive threats, aging technology, exponentially rising cost pressures, and increasing regulatory requirements. At the same time, the customer journey is becoming more complex as preferences are shifting to hybrid, multi-channel, and multi-touch interactions. Both insurance agents and buyers are demanding more transparent and convenient processes from insurance carriers. To meet these demands, Damco has designed InsureEdge, a comprehensive insurance software for policy administration and claims management that retools insurance carriers with the digital first approach and drive change rather than be driven by change. We get the multi-variate challenges that insurers face involving timely processing of claims, renewing existing policies, and addressing customer queries efficiently. Our robust software solution, InsureEdge, is tailored to address these specific business needs of insurers in the most cost-effective manner.
Developed with in-depth domain understanding and years of insurance industry software expertise, Damco’s InsureEdge, is a unified policy administration and claims management suite that helps insurance carriers manage critical operational processes across policy administration, claims processing, and reinsurance processes efficiently and cost-effectively. Fueled by easy to configure and scalable modules, InsureEdge empowers different departments of an insurance firm by driving new business opportunities, manage/renew existing customer policies, timely claims processing, and effective addressal of customer queries while saving time, efforts, and costs.
Global Insurers as Proud Users
Growth in Policy Sales
Improvement in Customer Satisfaction
Improvement in Conversion Ratio
Improvement in Retention Ratio
A state-of-the-art, insurance software solution, InsureEdge optimizes end-to-end organizational processes with its predefined functionalities provided as integrated, easy to scale and configure modules.
Efficient creation of personalized quotes, endorsements, policy renewals, and cancellations
Error-free claim management starting from FNOL to documenting information
Seamless communication management with clients, brokers, agents, and vendors
Ease of system configuration customization, access control, and user management
Configure reinsurance treaties and facultative arrangements, while integrating within policy administration
Manage agents with real-time data exchange between brokers/agents and users. An interactive customer portal to improve transparency and reduce repetitive tasks
80+ standard and statistical reports for quick data access and analysis
Ease of uploading and managing multiple policy/claim documents
A customer-centric mobile app for policy management, payments, or raising queries
From ease of compliance and third-party integrations to an expansion-friendly model, InsureEdge brings all functionalities under one ecosystem to deliver seamless services for all players of the insurance value chain.
Damco, a leading insurance software company, has developed InsureEdge as a one-stop insurance software platform that addresses multivariate needs across multiple lines of business – Life, Health, and General Insurance.
Damco’s InsureEdge covers P&C policy details and has automated renewal features and claims workflow management. Insurers can automate and digitize business processes through the unified dashboard of this insurance software while having access to all facets of P&C insurance such as policy, rating, billing, claims, data analytics, and more.
InsureEdge brings efficiency and digitization to the health insurance space by modernizing systems and strategizing processes. The unique automated software for insurance companies helps reduce the time and cost of performing mission-critical business functions like claims processing, benefit administration, and more.
InsureEdge accelerates life insurers’ speed to market by modernizing policy lifecycle. Insurers can develop and generate new life and annuity plans, automate operations, and efficiently manage work processes by leveraging this insurance software’s self-service and easy-to-use features.
Web-based digital platform-driven customer experience
Supports multiple lines of business
Reduced policy servicing TAT
Better adherence to regulation and compliance
Increased team productivity
Better insights powered by data-driven dashboards and reports
There are multifold benefits of an insurance software like InsureEdge. From automating mundane, manual tasks to saving time, money, frustration, and lost business – an efficient software for insurance companies like InsureEdge stimulates your business growth. Whether it is a small insurance firm or a large enterprise covering multiple geographies, the capabilities of such a solution maximizes revenue through improved productivity. For more, read our detailed article.
InsureEdge is an end-to-end policy administration and claims management solution for agents, carriers, and customers who can pick and choose the offerings that are suitable for their business. The cost of such cloud-based insurance software usually depends on the desired feature set. Contact us for a demo today and we can get the exact pricing information according to your business requirements.
We understand how critical customer data is for your business, especially with employees working from different geographical locations. Our insurance tech experts have designed InsureEdge by keeping data security as the priority. You can customize system configuration, add/delete/modify users, and control their access to your modules.
Our simple 4-stage implementation process ensures that InsureEdge is up and running in no time. However, several factors play an important role in the implementation time, including required module customizations, scope of operations, business goals, our insurance technology team ensures on-time implementation of the best insurance software in sync with your requirements.
InsureEdge is a unified, end-to-end policy administration and claims management suite for insurance companies and is easy-to-use, scalable, and secure enough to handle business- sensitive data. It is developed to work for multiple lines of business such as Life, Health, and P&C insurance, and interacts seamlessly with all the existing systems and legacy software.
As one of the best insurance software companies, we leveraged extensive insurance domain knowledge and experience to create InsurEdge, the end-to-end policy administration and claims management suite of choice for agents, carriers, and employees alike.