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InsureEdge

Home > Products > InsureEdge

Helping Caribbean insurers innovate to compete in a customer-first digital world

Damco’s InsureEdge is a scalable technology platform designed to help Caribbean Insurers achieve maximum benefits through its comprehensive modules covering policy administration, claims processing, reinsurance, dashboards and statutory reporting, agency management, and more. InsureEdge has the industry’s most comprehensive and flexible .

For more than 7 years, Damco has been working in the Caribbean region as technology partners to the clients and helping them move to a modern and scalable Policy Administration system through InsureEdge. After several product implementations in different Caribbean islands, we are now partners in innovations, conceptualizations, and implementations of ideas to facilitate strategic alliances for business growth with our numerous clients.

Natural disasters and hurricanes are a constant challenge for the Caribbean Insurers. To help them handle the soaring Claims in such days, InsureEdge manages Claims documentations, feeding Data in the system, verification of claims, prioritizing the claim queue and many such things with Life Insurance Software, P&C Insurance Software and General Insurance Software.

Being one of the sponsors of Annual Caribbean Insurance Conference, Damco actively participate in this annual event to foster the advancement of the Caribbean insurance industry and help create a platform for regional coordination and integration in the industry.

InsureEdge


InsureEdge modules simplify insurance administration with rich suite of features and wide coverage of functionalities

  • Product Administration
    Configure your system as per your needs and preferences; set up rates, discounts or loadings. It also allows you to manage users and provide access based on their roles.
  • policy management software
    Policy Administration
    This full policy management suite enables the customer to create quotes, enforce policies, do endorsements, renewals or cancellations.
  • claims management software
    Claims Processing
    Manage your Claims through claims processing system. It allows you to register the first report of loss and document all the necessary information for its informative processing. It is integrated with policy modules providing the user with real-time coverage verification.
  • reinsurance software
    Reinsurance
    Insurers can configure their reinsurance treaties and facultative arrangements and automatically integrate reinsurance processing within the policy administration and claims life-cycles with Reinsurance Software.
  • Dashboard & Reporting
    Access your data through ready reports, which are more than 200 in numbers, including both standard and statistical reports. These could be exported for further data drilling. Dashboard interface is available both on web and mobile; giving you added flexibility to keep a tab on your business at your ease.
  • InsureEdge
    Customer Portal
    This is a self-service portal for customers, where on either web or mobile customers can view and manage their policies or raise a concern through interactive chats.
  • Agency Portal
    Set up your Agencies or manage your agents and their commissions from here. The agent portal is easy to set up and configurable at agent level for better control. It allows for real time data exchange between broker/agents and internal users.
  • p&c insurance software
    CRM
    Track your communication in one place; this becomes a contact repository for all your clients, brokers, agents, reinsurer or vendor. This module will help you to manage your contacts and allow you to engage in up-selling or cross-selling at the company level.
  • InsureEdge
    Digital Document Repository
    This takes away the hassle of managing paper documents and linking them back to the policy or a claim. You can upload as many documents against a policy or a claim and can manage them accordingly within this interface.
  • reinsurance software
    Accounting
    With ready connectors to bind any third party accounting software, the system is equipped with operational accounting to give you a clear view of your income and expenditures.

Re-engineer the way insurers do business for Life, Health and General Products with InsureEdge multiple lines of businesses

Life
  • Group Life
  • Creditor Life
  • Group Pensions
  • Loss of Employment
  • Accidental Death and Disability
  • Critical Illness
  • Funeral Grant
  • Term Life/Whole Life
  • Guaranteed Life
Health
  • Individual Health
  • Group Health
General Insurance
  • Property – Commercial/ Homeowners
  • All Risk – Jewellery Insurance
  • Fire and Special Perils
  • Motor Personal/ Commercial
  • Commercial Fleet
  • Road Side Assistance
  • Public Liability Insurance
  • Workmen’s Compensation
  • Marine Insurance
  • Erection All Risk
  • Fidelity Guarantee
  • Goods in Transit
  • Plate Glass
  • Machinery All Risk
  • Money Insurance
  • Consequential Loss
  • Professional Indemnity
  • Advance Payment
  • Bid/Tender
  • Computer Insurance
  • Burglary Insurance
  • Electronic Equipment All Risk
  • Contractor All Risk
  • Customs Bond
  • Retention Bond
  • Supply Bond
  • Performance Bond
  • Travel Insurance
  • Aviation Insurance
  • Mortgages
  • Umbrella Policies

Customer Success Stories with InsureEdge

Trinidad’s oldest Insurer wanted to replace their legacy system with a web-enabled interface to increase their business in the competitive market. After showcasing InsureEdge’s vast capabilities, we successfully implemented InsureEdge with General and Life Insurance as part of our product. We also helped them migrate their legacy data into the new system successfully, the migration part had always been one of the biggest impediment in their conversion planning. Currently, they have added new LOB’s in offering and extended new area of operations with the help of integrated Agency management system.

The lack of a regular Policy management system and existing manual processes were making the task of policy writer and auditors difficult. The management also had to wait long and rely on iterative counting to get actual picture of their business health. The client realized they needed an integrated and web-enabled policy management system to increase their business in the competitive market and have better and easy control over the performance matrix. We implemented General Insurance as part of our product on in-premise for the client, which they have been using successfully since, and are very satisfied with the control and feedback reporting it provides. They are currently writing policies for around 22 LOBs. The policy system is well supported by Claims, Reinsurance, and Reporting.

The client was our existing customer for whom we provided support and maintenance of their legacy policy management system. They wanted to change their system to a more modern web-based system for ease of handling and improve agent management and distribution. After studying our system, they agreed to migrate their policy system to InsureEdge. We helped them migrate to the new system in staged process, which made the conversion journey easy for their users. The new system helped them achieve their target of opening new agencies and add new coverages to their existing P&C offerings.

The client was facing challenges in managing all the policy and claims documentation. Storing data year after year and digging older records for claims verification was getting tiresome and lengthy. After few consultations, we offered InsureEdge’s Data management system that helped them store policy and claims documents digitally, and also uploaded all the historical data documents into the system methodically. We implemented only DMS module from our product catalogue and customized the batch document upload job to give them more control and easy access to upload all historical documents. This implementation made them save cost spent on inventory space and measures to keep documents safe and secured.


For further information or product demo, reach us at insureedge@damcogroup.com.

InsureEdge - p&c, Life Insurance, Reinsurance Software

Home > Products > InsureEdge

Helping Insurers Make the Shift to Digital Insurance 2.0

Damco’s InsureEdge is a scalable technology platform designed to help Insurers achieve maximum benefits through its comprehensive modules covering policy administration, claims processing, reinsurance, dashboards and statutory reporting, agency management, and more. InsureEdge has the industry’s most comprehensive and flexible insurance processing functions for multiple lines of businesses, including P&C Insurance, Life Insurance, and General Insurance.

For more than 20-years, Damco has been working with Global Insurance companies as technology partners helping them competently move to modern and scalable Policy Administration system through InsureEdge. After several product implementations in different parts of the world, we are now partners in innovations, conceptualizations, and implementations of ideas to facilitate strategic alliances for business growth with our numerous clients globally.

With strings of natural calamities around the world, Insurers are facing many rising challenges and demands. To help them handle the soaring Claims in such days, InsureEdge competently manages Claims documentations, feeding Data in the system, verification of claims, prioritizing the claim queue and many such things with feature-rich Life Insurance Software, P&C Insurance Software and General Insurance Software.

Being one of the sponsors of Annual Caribbean Insurance Conference, Damco actively participate in this annual event to foster the advancement of the Caribbean insurance industry and help create a platform for regional coordination and integration in the industry.

InsureEdge


InsureEdge modules simplify insurance administration with rich suite of features and wide coverage of functionalities

  • Product Administration
    Configure your system as per your needs and preferences; set up rates, discounts or loadings. It also allows you to manage users and provide access based on their roles.
  • policy management software
    Policy Administration
    This full policy management suite enables the customer to create quotes, enforce policies, do endorsements, renewals or cancellations.
  • claims management software
    Claims Processing
    Manage your Claims through claims processing system. It allows you to register the first report of loss and document all the necessary information for its informative processing. It is integrated with policy modules providing the user with real-time coverage verification.
  • reinsurance software
    Reinsurance
    Insurers can configure their reinsurance treaties and facultative arrangements and automatically integrate reinsurance processing within the policy administration and claims life-cycles with Reinsurance Software.
  • Dashboard & Reporting
    Access your data through ready reports, which are more than 200 in numbers, including both standard and statistical reports. These could be exported for further data drilling. Dashboard interface is available both on web and mobile; giving you added flexibility to keep a tab on your business at your ease.
  • InsureEdge
    Customer Portal
    This is a self-service portal for customers, where on either web or mobile customers can view and manage their policies or raise a concern through interactive chats.
  • Agency Portal
    Set up your Agencies or manage your agents and their commissions from here. The agent portal is easy to set up and configurable at agent level for better control. It allows for real time data exchange between broker/agents and internal users.
  • p&c insurance software
    CRM
    Track your communication in one place; this becomes a contact repository for all your clients, brokers, agents, reinsurer or vendor. This module will help you to manage your contacts and allow you to engage in up-selling or cross-selling at the company level.
  • InsureEdge
    Digital Document Repository
    This takes away the hassle of managing paper documents and linking them back to the policy or a claim. You can upload as many documents against a policy or a claim and can manage them accordingly within this interface.
  • reinsurance software
    Accounting
    With ready connectors to bind any third party accounting software, the system is equipped with operational accounting to give you a clear view of your income and expenditures.

Re-engineer the way insurers do business for Life, Health and General Products with InsureEdge multiple lines of businesses

Life
  • Group Life
  • Creditor Life
  • Group Pensions
  • Loss of Employment
  • Accidental Death and Disability
  • Critical Illness
  • Funeral Grant
  • Term Life/Whole Life
  • Guaranteed Life
Health
  • Individual Health
  • Group Health
General Insurance
  • Property – Commercial/ Homeowners
  • All Risk – Jewellery Insurance
  • Fire and Special Perils
  • Motor Personal/ Commercial
  • Commercial Fleet
  • Road Side Assistance
  • Public Liability Insurance
  • Workmen’s Compensation
  • Marine Insurance
  • Erection All Risk
  • Fidelity Guarantee
  • Goods in Transit
  • Plate Glass
  • Machinery All Risk
  • Money Insurance
  • Consequential Loss
  • Professional Indemnity
  • Advance Payment
  • Bid/Tender
  • Computer Insurance
  • Burglary Insurance
  • Electronic Equipment All Risk
  • Contractor All Risk
  • Customs Bond
  • Retention Bond
  • Supply Bond
  • Performance Bond
  • Travel Insurance
  • Aviation Insurance
  • Mortgages
  • Umbrella Policies

Customer Success Stories with InsureEdge

Re-engineered a web based Policy Management system which allowed the client to overcome all the existing limitations and automate daily processing. The solution aided their cause to become one of the biggest insurance writer in the US.

The client had a basic insurance writing setup and their plan for business expansion was restricted by their application capacity. They got the complete InsureEdge application setup and started training their staff to use it. Through Agency portal they expanded into new territories and were able to tap the market potential to their benefit

Managed client’s insurance product with our suggestions to do production support and data handling by automating many of their processes. We also implemented several regulatory reports and its processing.

Developed Reporting and Dashboard on a mobile application for the client’s users and management that enabled the client to be in constant touch with their business data and make informed decisions.


For further information or product demo, reach us at insureedge@damcogroup.com.