Insurance policy administration system
The core of our platform is the comprehensive group and individual policy administration system. Our team has an average of 25 years in the industry which equates to a deep understanding of the market requirements, trends and expectations for the future. We are able to leverage this domain expertise to ensure we are investing in the platform to the benefit of the clients and markets we serve. Our knowledge and investments combined have built a platform that currently supports complex insurance products and is continuously modernized and modularized.
As a full-service policy administration system, our open platform is based on micro services architecture, supporting both open block and closed block plans.
Customizable for your needs
As an insurance software solution designed to support products primarily for the North American market, our policy administration software creates the perfect balance of robust out-of-the-box functionality and configurability.
Insurance product definition and maintenance
Billing & payment services
• Individual
• Group
• Worksite/supplemental
Policy owner services
Claims administration
Payout management & disbursements
Agency management / commissions calculation & payment
Calculations & valuations for statements and reports
Integration with peripheral systems
Feature spotlight
Customizable
Insurance companies can easily configure every necessary attribute and business rule to administer a wide range of products:
- Life: term; whole life, universal life, fixed and variable
- Disability: short term & long-term disability
- Health: major medical, critical illness, and hospital indemnity
- Annuities: fixed / variable, immediate / deferred
- Individual, group and supplemental
- Long-term care
Group worksite payroll deduction support
As an insurance billing platform, illumifin’s policy administration software saves time and increases efficiency by simplifying steps for complex groups of all sizes with straight-through processing of member enrollments, updates, and remittance files.
Full client administration in a single platform
Rather than switching between systems for different types of policies, our system combines all client policies on the same core instance, creating a seamless experience for the client and 360-degree view of the client for the carrier.
Get in touch
Want to learn more about how our insurance software can help your company increase revenue and efficiency?
