Policy Issuance

Policy Issuance A global insurer needed help with its policy issuance processes. Its heavily manual processes made it challenging to roll out new products and expand its presence in the U.S. The policy lifecycle from bind to issue was not synchronized effectively for internal or external parties such as legal, underwriting, operations, or brokers. The… Continue reading

Automated Accounting

Automated Accounting An insurer wanted an application that would allow its accounting department to automatically generate invoices from policy information, perform cash applications for premium payments received, initiate collection processes when needed, and update appropriate bank information. We assembled a collaborative team that included members of the insurer’s staff along with experts from our technology,… Continue reading

Direct Selling Platform for Commercial Lines Insurance

Direct Selling Platform for Commercial Lines Insurance Business Requirements One of the best capitalized insurance groups in the world turned to Xceedance to develop its online distribution system for commercial insurance products. The direct-to-customer platform was unique in the marketplace, as typical online offerings are predominantly lead generation systems that direct customers to agents and… Continue reading

Policy Administration Systems

Policy Administration Systems Business Requirements A U.S. based Excess & Surplus Lines insurance carrier was using various Excel and Access based systems for all its administrative functions, including clearance, underwriting, claims management, issuance and billings. The hodgepodge of systems being used were inefficient and could not keep up with the growing business need for consistent… Continue reading

Rating and Pricing Engine

Rating and Pricing Engine An Australian insurer asked Xceedance to develop a rating and pricing engine to generate near real-time quotations, supplemented by rating algorithms for home, landlord, and motor coverages. The engine would integrate with third-party applications for quote generation. It would also accommodate referrals, bind policies, process cancellation requests, and manage annual, installment,… Continue reading

Credit Control Transformation

Credit Control Transformation A major insurance organization with operations in North America was rapidly growing its business in other continents. Its challenges included lack of procedural standardization across regions; manual processes for premium collection, invoicing, matching, and reconciliation; lack of integration and automation; disparate broker payment systems and collection channels; fragmented visibility and access to… Continue reading

Finance & Accounting

Finance & Accounting Business Requirements A global insurer was facing challenges with its local finance and accounting outsourcing partner. The service was costly and the work was being done on local accounting tools, which created additional challenges in consolidation of international accounts and reports. The client was not only looking to reduce costs but also… Continue reading