Life insurance policy administration software helps insurers manage life and annuity insurance policies. Life insurance policy administration systems allow insurers to develop and administer new life, annuity, pension, and health insurance products for clients. Using these systems, organizations can design new policies, calculate policy costs, and maintain a record of policies issued to clients. Some systems offer libraries of prebuilt insurance product features that reduce time to market. Life insurance policy administration systems are commonly used by enterprise insurance organizations to manage existing policies and develop new insurance products. These systems can improve policy flexibility and administration. Life insurance policy administration systems can be implemented either as a standalone solution or as part of an integrated insurance suite.
To qualify for inclusion in the Life Insurance Policy Administration category, a product must:
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Oracle Insurance provides adaptive, rules-driven systems that let insurance companies easily change business processes as their business needs change.
Axelerator Policy Admin is a customer centric, smart, real time, highly configurable, web-enabled, rule-based technology that supports the full lifecycle of a policy including Pre-assessment, Needs Analysis, Quote/Proposal, Calculation engine, Application, Personal Statement, Underwriting Workbench, Mid-term changes, Renewal, Lapse and Cancellation. It uses the same code as all of our other products and integrates with Axelerator Claims using the same database and code. Axelerator is designed