COREFIN Insurance & Solution
Insurance Software
your Insurance Software solution for Insurance Companies and Insurance Brokers
COREFIN Insurance & Broker is a vertically customized management solution based on Microsoft Dynamics 365, which enables insurers and insurance brokers to manage their whole business and gain a 360-degree view of the customer. COREFIN combines the flexibility and the scalability of the platform in a user-friendly and intuitive way to help companies in the insurance sector systemize their business and analyze performance!
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Insurance software
Fully Integrated Solution
Our enterprise-wide insurance software solution based on Microsoft Dynamics 365 offers highly customized CRM functionality plus off-the-shelf add-ons for Insurance & Brokerage
Insurance Core System
Easy to Manage
Developed in a way so you can take maximum control of setting up new products & services and manage the system without the need of IT help, define business processes and procedures - all in real-time!
Insurance Core System
All in one place
All processes are streamlined with automated workflows ensuring staff follows business procedures strictly. All data and activities are tracked, accessible in a single source and easy to analyze within CoreFin Insurance Core System
COREFIN Insurance Module built on MS Dynamics 365
Benefits & Features
- Core Processes
- Claim Management
- Sales
- Marketing
- Customer Service
- Accounting & Back Office
- BI & Reporting
- Broker Solution
COREFIN Insurance Microsoft Dynamics 365
Our CoreFin Insurance Software solution offers a number of readily available customizations and management of all front and back office processes for an integrated Insurance Core System
Definition of Insurance Products
Easy definition of insurance products, covers, risk factors, tariffs, risks, risk groups and insured amounts
Definition of limits of liability, excess per cover, multiple commissions for different product parameters, taxes based on products, location etc.
Ability to choose among different premium calculation methods on cover level
Mathematical calculations of reserves and insurance premiums based on relevant risk factors (integrated financial calculator)
Insurance Policy Life Cycle Management
All of the above with No need of IT involvement!
Agent/Broker Structure and Commissions
Definition, calculation and payment of commissions for different periods and schemes
Definition of users and teams with specific roles across the network of branches & departments
Broker network relationship management and reporting
Agreement & Application Management
Manage efficiently all insurer-broker relationships with CoreFin Insurance Broker Software
More info for Brokers here
Reinsurance Management
Definition of reinsurance contracts and terms and conditions
Proportional and non-proportional: Quota – share, Excess of loss, Surplus
Reinsurance payments and collections
Business constraints, alerts and notification
More info
Payment and Collection Management
Payment management – types, due dates, receivables – all within COREFIN Insurance
Online Payments integration (Direct Debit, Online etc.)
Payment reconciliation and allocation
Web services/import of data about payments from related banks
Track outstanding payments and manage collection campaigns – reminders, charges and more
Productivity
Management of required forms & documents and re-insurance contracts
Activity and task management
Seamless tracking of communication between Outlook and COREFIN
Pricelists from Suppliers and other Stakeholders
Up-to-date lists of spare parts and services of repair shops (for auto insurance), their costs and comparison between partners
Human Resource
Screening, recruitment & employees administration
Compensation and reward management
Training and learning management
COREFIN Insurance offers off-the-shelf Claims Management software solution with highly customized functionalities
First notice of loss
Self-claim registration via a web portal or over the phone
Detailed info gathering: loss details, involved parties and properties, injury information, coverage verification, initial liability determination, documents available for upload etc.
Assignment & scheduling
Claim activity management, progress tracking and task assignments
Claim loss reserve management
Assign the right resources to a certain claim based on skills, location and capacity
Investigation & adjustment
Detailed item verification process
Claim appraisal & assessment; preparation of related reports
Integration with 3rd parties for on-site visits and assessment by insurance investigators
Notes and attachments for each case
Remote access via mobile/smart devises
Settlement & Indemnification
Claim payment management & recovery
Subrogation
Catalogue of assets, spare parts and repair/service shops helps cost the repair work on the spot of damages reported
Reducing claim costs
Reduce claim settlement amounts while decreasing time
Eliminate claim leakage and minimise attorney involvement
Streamline processes with automated workflow
Sales automation is the right tool in order to win, serve and retain customers with ease
Planning
Management of territories, teams/brokers, insurance products, discounts and more for cross-sell and up-sell initiatives
Integrated financial calculator to define risk-adjusted premium payment plans, commissions, taxes, brokers’ target budgets and many more
Sales Workflow Automation
Issuance of an instant quote or аn insurance policy with a few clicks: any time from any mobile devise via a web self-service portal
Easy quote to policy conversion
Automated workflows with reminders to ensure consistency, timely action and optimal customer engagement
Central repository for sales literature and product catalogues
Lead & Opportunity Management
Leads monitoring and prospecting: the right insurance software tool for lead generation!
Leads tracking by channel to measure marketing efficiency
Lead qualification to opportunities, scoring, routing, assignment and conversion
Comprehensive risk assessment & underwriting functionality
Account Management
Application and contract life cycle management, full history of changes
Overview of organizational structures & relationships
Monitor actual revenue by creating/tracking orders and invoices
Single data source
Access and share information across departments, product lines, channels, intermediaries for policy holders and insured individuals: all in one system!
Renewal
Customer knowledge helps increase retention
Understand the reasons for non-renewal and measure the success of renewal strategies
Organise and track marketing activities for higher ROI
Segmentation & Planning
Instantly segment prospects and customers into highly targeted marketing lists
Data and list management
Base planning on historical and current market/data analysis
Ability to create planning activities, assign budgets and execute campaigns
Campaign Management
Choose from complex multi-channel campaigns or a few-clicks Quick campaigns wizard
Automated sending of personalized emails based on templates with mail merge functionality
Execution of campaigns across multiple channels (email, sms etc.) and measurement of effectiveness by channel
Assignment of campaign activities (phone calls, tasks) to related employees/teams
Track who has opened your mails and what links were clicked all within COREFIN Mail Tracking Module
Automated Email campaigns for policy renewals, Christmas promotions, Birthdays and other events
Management of Events and Responses
Plan, execute and review events
Collect and analyze the results of campaigns (by marketing channel)
Measure effectiveness and ROI of marketing campaigns and compare budget to real performance
Link event attendances to new opportunities and orders and demonstrate marketing ROI
Loyalty Management and policy holder profiling and household
Reward customer loyalty with COREFIN Loyalty Management module
Define criteria and profile your contacts base
Internet marketing
Possible integration with company website to track email and engine search performance
Quick and effective customer care to increase customer loyalty
Advanced Contact Center
Call in the cloud (COREFIN Advanced Contact Center module)
Automated incoming call recognition with instant client profile visualization
Accounts Management
Intuitive user interface
Improved first-call resolution with access to customer histories
Churn management
Services & Resources Scheduling
Easy, visual scheduling of resources (field personnel, fleet, tools, parts and resources)
Centralized view of service workers’ calendars and resources
Review response and case resolution time and identify problem areas
Case Management
Agent Scripting
Easy-to-use case management - case creation, editing, dispatch, tracking and resolution
Routing & escalation of cases and activities
Interaction & Knowledge Management
Robust email support including auto-response and auto promotion of emails to cases
Knowledge base
Article authoring, review and publishing
Integrate your COREFIN Insurance CRM solution with an ERP back office system (Dynamics NAV) for an end-to-end Insurance core management system
Automated transfer of data between CRM and NAV in a systematic fashion (tax, profit, regulatory class etc.)
Tool for Risk & Accounting Management
Regulatory Compliance (Solvency II): automation of filling Solvency II templates
Perfect for companies operating in more than one country
Multi company & consolation of financial data
International scope – MS NAV supports multiple languages & currencies
Automation for issuing various reports according to predefined rules
Management of the cash flow and easy forecasting for future payables/receivables
Supervision of all monetary transactions
Reserve Management
Accounting & Billing Management
Simple and intuitive interface
Flexible Business Analytics in real time to track the performance of your insurance company or broker
Option to integrate analytics with Power BI for creating and sharing stunning interactive reports in seconds
On-demand dashboards and reports with drill-down on agent/broker productivity, new business success, customer loyalty, policy & claim processing and many more
Track critical insurance KPIs for real time informed decisions
Ability to modify existing dashboards or create new ones: easy with just a few clicks!
Ability to export reports and charts in various formats: Excel, PDF, WORD
Ability to schedule and send reports automatically to the responsible department/person
Ability to define and create regulatory reports and predefined data templates (Solvency II)
Reports for paid and expected premiums, unresolved and paid claims
History reports and analysis by business lines and segments
Define sales/agents targets & budgets, track productivity and analyze trends
Ad hoc or customized analysis
Easy to use on any smart device
CoreFin Insurance Broker software solution provides the right tool for brokers to manage their business and relationships with insurers
Issue quotes and policies with a few clicks
Insurance web-based self service portal to calculate and issue quotes and policies in a few clicks
Ability to issue multi-item policies and invoices
Integrated and easy to manage financial calculator for multiple premium calculations
Easy administration of all the agreements, quotes, policies, cancellations and requests for amendments and renewals
Insurance Policy Life Cycle Management
List of upcoming payments and their status (paid, unpaid, late payments)
Online payments integration: Credit Cards, Direct Debit
Automated tool for document generation, invoicing, e-mailing and reminders
Ability for automated payments and invoices allocation
Payment and Collection Management
Accounting & Billing Management
Manage your relationships with Insurance companies with the right tool
Easy importing of product definitions data and related documentation from insurance companies
Reporting tool to insurers via a Bordereaux templates
Automation of cash flow
Flexible reporting tools
Claim Management:
Web & Mobile interface for (self) claim registration
Detailed info gathering: loss details, involved parties and properties, injury information, coverage verification, initial liability determination, documents available for upload etc.
Tracking communication with insurers
Out of the box collaboration tools for communicating and informing the end client
Payment management and tracking