Known for their traditional business models and complex operations, insurance firms are facing new forces demanding significant change across the technology landscape, customer behavior and new business strategies. Among them lies new competitive threats, aging technology, exponentially rising cost pressures, and increasing regulatory requirements. At the same time, the customer journey is becoming more complex as preferences are shifting to hybrid, multi-channel, and multi-touch interactions. Both insurance agents and buyers across multiple lines of businesses (LoBs) are demanding more transparent and convenient processes from insurance carriers. To meet these demands, Damco has designed InsureEdge, a comprehensive insurance software for policy administration and claims management that retools insurance carriers with the “digital first” approach and drive change rather than be driven by change. We get the multi-variate challenges that insurers face involving timely processing of claims, renewing existing policies, easy access to policy documents and addressing customer queries efficiently. Our robust insurance management software, InsureEdge, is tailored to address these specific business needs of insurers in the most cost-effective manner.
Developed with in-depth domain understanding and 20+ years of insurance industry software expertise, Damco’s InsureEdge, is a unified insurance management system that helps insurance carriers manage critical operational processes across policy administration, claims processing, and reinsurance processes efficiently and cost-effectively. Fueled by easy to configure and scalable modules, InsureEdge empowers different departments of an insurance firm by driving new business opportunities, manage/renew existing customer policies, timely claims processing, and effective addressal of customer queries while saving time, efforts, and costs.
20+
Global Insurers as Proud Users
35%
Growth in Policy Sales
70%
Improvement in Customer Satisfaction
23%
Improvement in Conversion Ratio
29%
Improvement in Retention Ratio
A state-of-the-art, insurance software solution, InsureEdge optimizes end-to-end organizational processes with its predefined functionalities provided as integrated, easy to scale and configure modules.
Fully automated and efficient creation of personalized quotes, endorsements, policy renewals, cancellations and documentation
Error-free claim processing starting from FNOL to claims settlement powered by AI/ML and Intelligent Document Processing (IDP)
Seamless communication management with clients, brokers, agents, and vendors
Better identification of target customers, collation and conversion of leads from multiple sources
Digital onboarding for faster delivery of value to policy holders and map customer journeys
Easy generation and access to policy and claim related documents anywhere and anytime
Ease of system configuration customization, access control, and user management
Configure reinsurance treaties and facultative arrangements, while integrating within policy administration
Manage agents with real-time data exchange between brokers/agents and users. An interactive customer portal to improve transparency and reduce repetitive tasks
80+ standard and statistical reports for quick data access and analysis
Ease of uploading and managing multiple policy/claim documents
A customer-centric mobile app for policy management, payments, or raising queries
Optimize Your Insurance Operations to Deliver a Seamless Customer Experience with InsureEdge
Download BrochureFrom ease of compliance and third-party integrations to an expansion-friendly model, InsureEdge brings all functionalities of insurance management software under one ecosystem to deliver seamless services for all players of the insurance value chain.
A Growth-Friendly Licensing Model
Multi Country and Multi-Currency Model
Simple Workflows for Easy Adoption
APIs for Third Party Integrations
Damco, a leading insurance software company, has developed InsureEdge as a one-stop insurance software platform that addresses multivariate needs across multiple lines of business – Life, Health, and General Insurance.
Damco’s InsureEdge covers P&C policy details and has automated renewal features and claims workflow management. Insurers can automate and digitize business processes through the unified dashboard of this insurance management system while having access to all facets of P&C insurance such as policy, rating, billing, claims, data analytics, and more.
InsureEdge brings efficiency and digitization to the health insurance space by modernizing systems and strategizing processes. The unique automated software for insurance companies helps reduce the time and cost of performing mission-critical business functions like claims processing, benefit administration, and more.
InsureEdge accelerates life insurers’ speed to market by modernizing policy lifecycle. Insurers can develop and generate new life and annuity plans, automate operations, and efficiently manage work processes by leveraging this insurance management software’s self-service and easy-to-use features.
InsureEdge is designed to accommodate the unique needs of cannabis insurance, an exponentially rising industry of the United States. The state-of-the-art digital insurance process management solution helps cannabis insurers digitize their operations by automating their end-to-end processes while meeting the inter-state multi-state regulatory and compliance requirements.
Web-based digital platform-driven customer experience
Supports multiple lines of business
Reduced policy servicing TAT
Better adherence to regulation and compliance
Increased team productivity
Better insights powered by data-driven dashboards and reports
Damco’s InsureEdge Reviews
“The most practical solution for our insurance operations. The desktop version of it has one screen where you can manage policies, customer and claim details. This solution also provides a centralized repository for all documents, thus increasing the overall productivity.”
“The tool that reduced time in policy clearance. A highly seamless policy and claim management process. The reporting become easy with this tool, just a single click to create reports. The interactive tool dashboard really helps in reporting.”
"This solution is a game changer for our operations, it practically does the robot work for us with task automation, and our data accuracy got a major upgrade. It's like our productivity got a turbo boost, and customers are loving the smoother experience."
FAQs
There are multifold benefits of an insurance management software like InsureEdge. From automating mundane, manual tasks to saving time, money, frustration, and lost business – an efficient insurance company software like InsureEdge stimulates your business growth. Whether it is a small insurance firm or a large enterprise covering multiple geographies, the capabilities of such a solution maximizes revenue through improved productivity. For more, read our detailed article.
InsureEdge is one of the leading, end-to-end insurance management systems for agents, carriers, and customers who can pick and choose the offerings that are suitable for their business. The cost of such cloud-based insurance software usually depends on the desired feature set. Contact us for a demo today and we can get the exact pricing information according to your business requirements.
We understand how critical customer data is for your business, especially with employees working from different geographical locations. Our insurance tech experts have designed InsureEdge by keeping data security as the priority. You can customize system configuration, add/delete/modify users, and control their access to your modules.
Our simple 4-stage implementation process ensures that InsureEdge is up and running in no time. However, several factors play an important role in the implementation time, including required module customizations, scope of operations, business goals, our insurance technology team ensures on-time implementation of the best insurance software in sync with your requirements.
InsureEdge is a unified, end-to-end policy administration and claims management suite for insurance companies and is easy-to-use, scalable, and secure enough to handle business- sensitive data. It is developed to work for multiple lines of business such as Life, Health, and P&C insurance, and interacts seamlessly with all the existing systems and legacy software.
As one of the best insurance software companies, we leveraged extensive insurance domain knowledge and experience to create InsurEdge, one of the most preferred insurance management systems for agents, carriers, and employees alike.