Prise paves the way for a fully Digitized P&C Insurance Business
Prise is a comprehensive policy administration system that supports the complete insurance value chain.
Its self-service Product Configuration module supports customizable product modeling through an automated quote and bind process for Agents, Brokers, and other distributors. The rules and workflows can be defined based on the role as the system offers a role-based configuration.
Standard workflows are offered as a part of the standard offering, while customers are allowed to configure the workflows as per their unique business needs.
Regular changes and modifications to the system such as modifying values in a table, adding a new field, removing or adding a drop-down value, replacing existing forms or adding a new form can be done in hours, instead of days.
Business users can quickly start building coverages, endorsements, underwriting rules, rates, and forms from scratch. Database administrators will no longer need to step in when the need arises to make day-to-day changes, as the UI-level configuration of Prise enables business users to take control.
Product versioning in Prise allows users to maintain a single product with multiple versions. This feature enables state-specific, agency-specific and customer-specific screens in a single product making its maintenance easy, essentially as the workflow and rules correspond to the user’s role.
Its role-based configuration enables automated quote and bind process for Agents, Brokers, and other distributors.
Business users can save a lot of time and effort, with bulk data upload and import, owing to the excel import and export feature of Prise, when they need to add agency transfer information, producer’s information, or various risks information, etc.
Makes integration with third party and payment processes easy and flexible.
Features of Prise
Prise stands out mainly due to the following:
- The Prise Suite comes with the policy submission workflow and built-in Underwriting, Rating, and Forms Management features.
- Enables users to build or modify all product lines - personal, commercial and specialty lines.
- Provides customized screens and user-guided implementation for complex requirements.
- Supports ISO and AAIS standards.
- Offers standard templates for most of the personal and commercial product lines, which can be leveraged to quickly launch new products into the market to cash on opportunities.
- Provides the framework to support the building of templates to meet client requirements, in no time.
- Meets Regulatory requirements.
- Supports ACORD XML for P&C and other web forms.