Ebix’s processing system for property and casualty carriers

EbixAdvantage is a holistic, fully integrated enterprise insurance administration system for the Property and Casualty industry. Its comprehensive design allocates all the functionality needed to process a Carrier’s claims, policy administration, rating, quoting, and accounting needs.

Additionally, EbixAdvantage utilizes an easy to navigate, user friendly interface (Users can enter accurate data by selecting entries from system maintained pull down options. In case the risk information for a particular client already exists in the system, the CSR is not required to key in the same information again. The system automatically picks this information from the database) along with a single source database which requires a single entry for most data despite what functions are later exercised. Data only needs to be entered once and all related policy information, such as policyholder details, documents, photos, etc., are linked for easy system-wide access of all data. This design lends to a simple, logical end-to-end processing (The system components are integrated so that all data is easily accessible and logically linked together. This creates a single source for all information which automatically feeds into accounting, cash management, and reporting. A user can easily drill back to the transaction source from multiple applications within the system (based upon their authorizations) workflow which helps guide users to the correct screen while automatically creating necessary follow-ups items, work assignments, and tracking indicators.

EbixAdvantage can also integrate seamlessly with your existing insurance applications and third party data sources. In addition, EbixAdvantage’s product builder is rules-based and table-driven, which allows access to quick development of and modifications to insurance products and lines of business with few, if any, necessary programming changes. Most processing parameters and validation criteria are carried as easily maintainable values in relational database tables. When program changes are unavoidable, the modular design and construction techniques simplify design and testing. This feature helps to accelerate EbixAdvantage’s implementation and deployment.

The system comes with a built-in data exchange that enables data download between carriers and agencies/brokers. It also automates the majority of workflows within a single system, including:

• Prospect/Client management
• Workflow based diary system - Based on your business, EbixAdvantage automatically tracks screens where information input is required and guides users through the complete workflow process with suitable messages and prompts. Automated diary entries are created in the system, thus eliminating the need for any manual follow-up creation.
• Submission and quote generation
• Flexible policy issuance and management - EbixAdvantage has numerous integrated processes but can easily accommodate your needs for both website and phone based customer interactions. Both straight-through processing and customized support can all be accomplished with one system.
• Claims settlement
• Reinsurance
• General Ledger accounting
• Document generation
• Agency interfacing

Enjoy quicker implementations, reduced integration work, and comprehensive functionality with EbixAdvantage.

EbixAdvantage Core System Features

Screen/Process Level Security

• Set up user types
• Define access levels for user types
• Assign user types to designated users

Global Program Management

• Insurance product management
• Flexible dialogue definition
• Distribution channel management
• Broker & contract management

Client and Prospect Management

• Setting up new clients
• Contact management

Quote Management

• Setting up submissions
• Quick quote
• Quote amendment- Rates can be easily modified by authorized users and automatic rating is tied to quote amendment allowing underwriters to modify screen values and submit them to the system for re-quotes. Underwriters can also compare selected quotes with different parameters.
• Quote acceptance
• Underwriting support

Rating Engine

• Automatic premium calculation
• Business rules maintenance
• Rating factor maintenance

Workflow Management

• Process integrated workflow management
• Automated work assignment & tracking
• Active task list
• Comprehensive audit trail

Claims Management

• Claims adjuster setup & maintenance
• Claim hierarchy maintenance
• Instant coverage maintenance
• Claim update & settlement
• Financial processing

Reinsurance

• Treaty definition
• Inward (accepted) reinsurance
• Outward (ceded) reinsurance
• Retrocession
• Facultative/treaty placement
• Proportional/Non-proportional
• “Catastrophe” indicators
• Reinsurance accounting with recovery tracking

Multinational

• Multicurrency
• Multilingual

Accounting

• Full general ledger/accounts payable
• Transaction detail accessible throughout policy, claims, & billing processes

Policy Administration

• Policy issuance
• Policy reference
• Renewals
• Endorsements
• Cancellations
• Reinstatements