iSURE

An Insurance Management System (IMS) is a comprehensive, end-to-end software platform designed to manage the complete lifecycle of insurance operations for providers, agents, and policyholders. It automates core processes such as policy creation, premium collection, claims processing, underwriting, customer service, and regulatory compliance. The system aims to improve operational efficiency, enhance customer experience, and ensure data accuracy and security.

Key Features

1. User Roles and Access Control:
       ● Admin: Full system control, user management, policy settings, and analytics.
       ● Underwriter: Evaluate applications, assess risks, approve/reject policies.
       ● Agent/Broker: Create quotes, manage clients, track commissions.
       ● Customer/Policyholder: Purchase policies, view documents, file claims.
       ● Claims Officer: Review and approve claims, manage settlements.
       ● Role-based permissions and activity logs ensure security and traceability.

2. Policy Management:
       ● Create, edit, renew, or cancel insurance policies.
       ● Support for various policy types: life, health, auto, property, travel, etc.
       ● Dynamic premium calculation based on age, location, risk factors, and coverage.
       ● Document management: digital policy documents, terms & conditions, endorsements.

3. Quotation and Underwriting:
       ● Instant premium quotes based on input parameters.
       ● Rule-based underwriting engine for risk evaluation.
       ● Support for manual and automated underwriting workflows.
       ● Integration with third-party data sources (credit score, health records, etc.).

4. Customer Management:
       ● Centralized customer profiles with policy, payment, and claim history.
       ● KYC/AML integration for identity verification and fraud prevention.
       ● Communication logs (emails, SMS, chat) and service request tracking.
       ● Self-service portal for policy management, claims, and updates.

5. Claims Management:
       ● Online claim initiation with document upload and progress tracking.
       ● Automated claim assessment workflows based on type and amount.
       ● Rule-based fraud detection alerts.
       ● Claim settlement calculation, approval workflows, and payout tracking.

6. Billing and Payments:
       ● Premium payment schedule management (monthly, quarterly, annually).
       ● Online payment integration (credit/debit card, net banking, wallets).
       ● Auto-debit and installment plan support.
       ● Invoicing, receipts, refund processing, and overdue reminders.

7. Agent and Commission Management:
       ● Agent registration, licensing, and performance tracking.
       ● Commission structure configuration (fixed, tiered, incentive-based).
       ● commission calculation and payment schedules.
       ● Reports on agent productivity and lead conversion.

8. Reports and Analytics:
       ● Real-time dashboards: policy sales, claims ratio, customer churn, etc.
       ● Financial reports: premiums collected, outstanding dues, loss ratios.
       ● Risk analytics and actuarial data insights.
       ● Exportable reports (CSV, Excel, PDF) for audits and compliance.

9. Regulatory and Compliance Management:
       ● Automated compliance with insurance regulations (IRDAI, HIPAA, GDPR, etc.).
       ● Secure audit logs, encrypted data storage, and user activity tracking.
       ● Automated generation of regulatory reports and submissions.

10. Communication and Notifications:
       ● Automated SMS/email alerts for due dates, renewals, claim updates.
       ● Customizable templates for onboarding, reminders, and alerts.
       ● Internal chat support or chatbot for customer service.

11. Integration and APIs:
       ● Integration with third-party services: banks, reinsurers, CRM, ERP, payment gateways.
       ● RESTful APIs for partners, aggregators, and mobile apps.
       ● Document verification APIs (e.g., Aadhaar, PAN, SSN, Driver's License).

12. Security and Data Protection:
       ● Role-based access control and multi-factor authentication (MFA).
       ● End-to-end encryption (AES-256, SSL/TLS).
       ● Regular backups and disaster recovery options.
       ● Compliance with global data protection laws.

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Installation Modes available:
       ● On - Premise
       ● Remote Access