Exigen Insurance Solutions®, a leading provider of insurance core systems, today announced the release of Exigen PolicyCore™ 3.6, the latest version of its Product Factory™, underwriting, and policy administration system.
The new and enhanced features within PolicyCore enhance property and casualty insurers’ ability to improve customer service, operational efficiency, agency/broker management and product agility.
“PolicyCore™ 3.6 has enhancements that appeal to customer-centric organizations interested in achieving differentiation through innovations in product, process and distribution,” says Rowshi Pejooh, vice president of product management at Exigen Insurance. “The common theme is providing insurers more flexibility, with transparency and control, so they can be more agile and responsive to customer needs.”
Areas of enhancement include:
- Product development: Rapid product development is key to business agility and market growth for all insurers and PolicyCore™ 3.6 provides enhanced support within Product Factory™ for collaborative product development, as well as efficiency improvements in product rules management that streamline and accelerate market expansion domestically and globally.
- User productivity: Insurers can find productivity gains through a number of Exigen Platform™ enhancements, such as the significant expansion of notes recording and management capability, including quick notes, search, spell check, and rich text support; the introduction of task management models with escalation and routing capabilities for handling manual tasks in business processes; and users can now simply drag and drop files from their own desktop system to the PolicyCore e-Folder™.
- Partner and book of business management: Insurers can broaden distribution channels and improve ease of doing business with the new Partner Scheme management tool, which manages all agreements with distribution partners – be they agent/broker, bank, retail or affinity organizations. In addition, enhancements to single and bulk agency transfer include inter- and intra-agency transfers, flexible search and preview, and lifecycle management of bulk transfer requests.
- Policy servicing: Insurers with call-centers serving multilingual clientele will have the ability to instantly switch from one language to another – English to French, for example – from within the UI.
- System efficiency: New configuration capabilities have been added to provide greater flexibility to manage taxes and fees at the policy or coverage levels. The new release also includes a more simplified way to handle non-premium bearing endorsements that saves an average of 50% in transaction time.
“The new release of PolicyCore™ has been well received by our customers who are excited by the possibilities the enhancements provide to give a revenue lift or drive more operational efficiency,” said Gwen Spertell, president of Exigen Insurance. “These enhancements demonstrate our ongoing commitment to providing insurers with more and ever-better configuration and solution management capabilities.”