| 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 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 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:
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
- 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
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Globally
