A P&C insurance software company, CodeObjects, has introduced InsuranceEnterprise that offers a complete insurance processing management solution for the small to mid-size personal lines auto carriers.
InsuranceEnterprise is a ready-to-use, Cloud-based P&C insurance processing and is available through Software as a Service (SaaS) to provide policy, claims, billing and rating components.
Cloud delivery and full configurability of the InsuranceEnterprise enables carrier's business user to go live by configuring products, rates, rules and documents in less than 90 days.
The solution also provides capabilities to address requirements for all ancillary functions and systems for true end-to-end insurance processing with full suite of functionality.
Strategy Meets Action Founder Deb Smallwood said that the new InsuranceEnterprise is the first SaaS core system that is based on SOA to provide agility and flexibility while setting a new bar for speed to market.
Novarica's insurance practice industry analyst and partner Chad Hersh said: "As fully configurable solutions like CodeObjects' InsuranceEnterprise enter the market with true SaaS offerings, we believe that insurers will finally start to adopt SaaS on a broader scale for core systems."
CodeObjects chief executive officer Anil Annadata: "Our goal is to level the playing field for small to mid-size insurance carriers who are at a significant disadvantage when it comes to huge technology investment typically required for a modern solution."
"InsuranceEnterprise provides all the technology, functionality and configurability needed for a state of the art policy, billing, claims and rating solution - all available in the cloud delivered via Software as a Service," Annadata added.