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  P&C Brokers/Agency
  Data Exchange and     Rating
  eTools
 
 

P&C Carriers
Ebix is a leader in electronic end-to-end process and systems integration in general insurance. We strongly believe that the current levels of errors and rework and the resulting extraordinarily high costs in personal and commercial insurance can be eliminated by fundamental redesign of the client-broker-insurer interaction process. To achieve this, Ebix offers insurers and brokers a range of products and services to enable paperless, electronic execution of insurance business

To transform your business operations Ebix can help design and implement a custom plan that provides:

• Assessment of your current systems and technology needs for a transition to a new and more efficient working environment.
• Rapid installation of an operational environment that can scale to support corporate growth and future initiatives.
• Independent review and validation.
• Cost-effective and low-risk implementation.

Ebix solutions can help to:

• Establish principles of application architecture.
• Define a common model of major application building blocks across business units.
• Establish clear boundaries between application building blocks for increased independence and reduced interface complexity.


Product Line

BRICS-Business Reinsurance and Insurance Company System

BRICS is a platform built on the latest technologies to leverage the advantages offered by the newer technology. It is an Insurer / Carrier / Company Management system that automates majority of the workflows within an Insurance Company including:

• Generating a quote using either an inbuilt rating engine or using an external rating engine.
• Generating a quote.
• Once the quote is accepted converting the prospect to a client and quote to a policy.
• Enabling all policy processes including mid-term adjustments / endorsements, cancellations,reinstatements etc.
• Handling of claims over the internet.
• Accounting.
• Reinsurance.

The implementation process is tailored as per company requirements.

Ebix works in partnership with the carrier to design and develop an insurance product including rating rules, question sets and look and feel
• The carrier can provide Ebix their rules, rates and documentation for a product and Ebix would build the product either using its Product Builder or through programming the product screens and rules and rates of the carrier
• Carrier can use Ebix’s product builder to develop product screens then use Quote Builder to configure their rating logic & rules and finally create documentation templates using Ebix’s Document Builder.

Brokers / Agents or other distribution channel partners can obtain instant electronic quotes and can generate point of sale documents.

New business, renewals, mid term adjustments/endorsements, cancellation and reinstatement processes are all supported.

BRICS has an open architecture and can exchange data with external systems through XML. BRICS is built to accept or send out XML data streams at all logical steps and thus is easier to integrate with third party systems.

Brokers / Agents can be given access rights to the BRICS system to perform certain workflows including New Business, renewals, endorsements/mid-term adjustments, cancellations or reinstatements. Their access rights & privileges are defined by the carrier through the Maintenance section in BRICS. Carrier can also define different commission rates for the brokers / agents based on different criteria and can track the validity of licenses of its brokers/agents through this area.

In case the broker / agent is not willing to use BRICS, Ebix can create an interface for upload and download of data between the BRICS system and the Broker management system. Ebix, the Carrier and the broker define the processes and data exchange standards for the exchange of data between the BRICS and the broker management system. Once this interface is built, the broker can then submit requests for quote to the Carrier through internet using their own broker management system and responses from the broker are populated directly into the BRICS system.

Ebix eXchange

eXchange is an interface between Insurance Company system and Broker/Agency systems. It is a B2B product that acts at the back end as the facilitator for smooth flow of Insurance Industry specific data in any specified format and over any specific transmission protocol available.

Infinity Systems

Infinity Systems in now part of Ebix Inc. INFINITY is the first comprehensive, fully integrated, client server technology policy and claims administration system designed for small to medium-size property and casualty insurers. Additionally, INFINITY has been selected as the system of choice by large organizations to administer niche products and specialty lines. This state-of-the-art system supports a graphical user interface in a variety of Windows environments. We can support most advanced relational database management systems including Microsoft SQL Server and Oracle.
 Spotlight   


BRICS is a general lines underwriting system that provides a comprehensive set of
insurance-specific automation solutions for any large insurance company.

 eQuote   

eQuote’s functionality is focused on quoting engines (dynamic in nature) as well rating engines (for comparing the quotes).

It can be seamlessly integrated with multiple insurance company systems – enabling the user to compare quotes from multiple insurance companies.

eQuote can handle multiple lines of businesses and can be integrated with back office applications.

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