Policy Administration System

Q: What is a policy administration system in insurance?

The policy administration system is a ready-made solution designed for insurers to manage policy administration efficiently, with speed, visibility, and control. It automates policy and claims management, billing, and customer interaction.

Key modules

Policies

Policies are created based on products, with coverage and limits specified. Each policy is generated with the help of a pre‑saved template and clearly reflects all the essential information such as the insured's name, the insurer (captive), premium amount, and status.

Users can filter policies by status, captive, and premium type, monitor effective and due dates, and quickly notice those that need renewal. With capabilities such as bulk creation, certificate generation, and renewal, users can efficiently manage large volumes of policies.

Products

The product management module allows insurers to create and manage insurance products with precision and scalability in mind. The system provides a clear hierarchical view of active, draft, deactivated, or archived insurance product families, enabling insurers to create root or sub‑products easily.

Each product can be configured to meet the particular laws, regulations, and markets, and according to coverage types, custom fields, and multiple versions, if required. Administrators can define coverage details, including limits and deductibles.

Claims

The claim management module provides insurers with a highly organized way to manage all types of insurance claims, streamlining the entire lifecycle from claim filing to settlement. Users can easily filter and monitor claims by status, date, type, or amount. Additionally, they can assess key details, including claim type, risk level, policy reference, deductible, and financial status.

Each claim record provides more information about the adjuster, supporting documents (such as invoices, photos, videos, and statements), and incident descriptions. Whether a claim is pending, approved, in progress, or assessed, the system enables fast, informed decisions while ensuring accuracy, traceability, and compliance at every stage.

Billing

The invoices dashboard provides a transparent billing experience for insurers, allowing them to easily create, manage, monitor, and track all invoices in one place. Users can filter invoices by status, insured party, amount, or due date, while viewing essential details such as invoice number, total amount, due date, and policy linkage.

Each invoice record provides access to additional actions, such as viewing full details or downloading a PDF copy for record‑keeping purposes. With built‑in search, filters, and a clear layout, the dashboard streamlines financial oversight, helping ensure timely and accurate premium collections.

Main dashboard

Begin your journey with a powerful, user‑friendly dashboard that displays portfolio performance, including data on policies and claims, billing, and customer interactions.

Real‑time updates, visual analytics, and intuitive navigation allow users to track policy performance, claim progress, and premiums.

Our policy administration system in insurance offers clear insights into policy status distribution, monthly premium trends, and recent activity, enabling more intelligent decisions and effective operations.

Key features

Below, you'll find an overview of the essential features that distinguish our top‑tier, ready‑made solution from other car, health, life, and P&C insurance policy administration systems on the market.

Policy setup and creation

Manual and bulk policy creation and renewal
Auto-filling of client data (name, address, etc.)
Add entity details to the policy (name, location, etc.)
Upload policy templates with dynamic fields for policy generation
Template versioning with logic for effective dates
Visual policy creation wizard
Ability to save policies in draft mode before finalization
Custom fields support
View complete policy history, including changes to versions, statuses, endorsements, and dates

Endorsements and COI

Support for mid‑term policy changes (coverage, risk object, personal data, etc.)
Automated premium recalculation (pro‑rata, short‑rate)
Approval workflows based on change type and impact
Endorsement document generation and versioning
On‑demand COI generation for policyholders, brokers, or third parties
Configurable templates by product, jurisdiction, or customer type
Real‑time data pull from active policies and endorsements
Multi‑format export: PDF, email delivery, system download
Version control and issuance history tracking
Expiry date and coverage validation logic
Bulk COI generation for group or fleet policies

Product management

Ability to create insurance products, specifying coverage and limits
Option to define product description and assign a parent product
Support for multiple product versions with different effective dates
Upload of Word templates with dynamic fields for policy generation

Billing and invoicing

QuickBooks or other accounting system integration
Manual and automatic invoice generation
User‑friendly invoice PDFs generated from policy premium data for emailing to clients
Invoice‑to‑policy period mapping
Editable invoice descriptions
Tracking of paid, overdue, and pending invoices
Premium and tax reports for annual premium tax filings
Monthly earned and unearned premium reserve calculations

Loss run data

Calculation of loss ratios

Retro premium calculation using policy premium data and loss experience

Notifications and document delivery

Notifications for creation, signature, renewal, etc.

Direct email and e‑signature sending from the platform

Document storage

Policy, endorsement and COI documents are stored in Azure Blob Storage

Easy retrieval of declaration pages and endorsements for audit purposes without downloading the full policy document

Logging and audit

Activity log for audit trail

All emails sent from the system are logged and viewable for audit and tracking purposes

General functionality

01Ability to create new user accounts via the admin interface
02Role and permission assignment during user creation
03
Secure login with role‑based access control (e.g., regular users, admin / superuser)
04The audit log tracks all login, logout, and user management actions for compliance and security
05Client and policy assignment to specific users
06System‑generated email and in‑app notifications for key events and tasks
07
Support for Multi‑Factor Authentication (MFA)

Benefits

Delivers automation, transparency, and flexibility that translate into measurable business value

01
Automated policy lifecycle management

Our policy administration system for commercial insurance offers numerous policy management automation capabilities, including creating and renewing policies, e‑signing documents, providing reusable templates, tracking versions, generating various reports quickly, integrating data from external tools and systems, and more. By automating most of the policy administration tasks, insurers can save time on repetitive jobs and focus on value‑added activities, reduce the risk of human error, and adapt quickly to new market opportunities and business rules.
02
Reduced claim processing time

A comprehensive review of claims, including detailed history and all available documents, decreases the time insurers typically need to process claims. As a result, it improves the resolution of claims and customer loyalty. Claim handlers can quickly review all necessary information, reducing delays caused by searching for missing details or documents. Access to documentation and history will help insurers avoid redundant requests for information.
03
Fast time to market

Insurers can create products faster because our system offers a set of ready‑made functionalities and established logic, allowing insurance businesses to launch new offerings quickly and efficiently. A set of pre‑built functionalities and workflows in our system allows insurers to quickly respond to market demands and enhance operational efficiency. This agility helps businesses gain a competitive advantage and growth in dynamic insurance markets.
04
Improved decision making

Reporting tools and real‑time dashboards provide insights into key metrics, including premium trends, policy statuses, and loss ratios, enabling faster, more accurate, and data‑driven decisions and performance monitoring. Also, they help identify underperforming products or emerging risks, allowing insurers to take corrective actions proactively. Interactive dashboards can drill down into specific segments, visualize trends, and highlight areas where operational or financial strategies need adjustment, further enhancing business agility and organizational transparency.

FAQ

What is a policy administration system in insurance?

The policy administration system is a ready‑made solution designed for insurers to manage policy administration efficiently, with speed, visibility, and control. It automates policy and claims management, billing, and customer interaction.

What are the key modules included in the system?

The system comprises key modules, including Policies, Products, Claims, Billing, and Main Dashboard each designed to streamline specific aspects of insurance operations.

How does the system facilitate policy management?

The system offers comprehensive policy management features, including manual and bulk policy creation and renewal, auto‑filling of client data, template versioning, custom field support, and a complete history of policy changes, along with notification and document delivery functionalities.

Can the system help with managing insurance products?

Yes, the product management module allows insurers to create and manage insurance products with precision, offering a hierarchical view of product families and customization options for jurisdiction, coverage types, and multiple versions.

What capabilities does the claims module offer?

The claims module offers a highly organized approach to managing all types of insurance claims, from filing to settlement, enabling users to filter, monitor, and assess claims by status, date, type, or amount, and access supporting documents.

How does the system enhance billing and invoicing processes?

The system offers a transparent billing experience, featuring tools for managing, monitoring, and restoring invoice activity. These tools include manual and automatic invoice generation, QuickBooks or other accounting systems integration, tracking of invoice statuses, and various reporting capabilities.

What is a life insurance policy administration system?

A policy administration system in life insurance is specialized software to manage the entire lifecycle of life insurance policies. It handles tasks such as policy issuance, premium billing, policy changes, claims processing, and customer data management, helping ensure efficient and accurate operations. Our insurance policy administration system supports all types of business lines and products, so you can easily handle various lines effectively.

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