Northstar Solutions

On top of Innovation Studio, a number of dedicated modules can be added in order to create digital journeys specialized on the insurance industry. These modules are configured to offer the necessary tools to achieve certain goals specific to the insurance industry, such as policy generation, proposal management, managing and processing insurance claims, processing insurance premium payments. Currently, the modules are agnostic to types of insurance policies, meaning that they can used to create and customize life and health, and property and casualty policies.

The following modules are dedicated to the insurance industry:

  • Insurance Product Factory offers features for creating and maintaining insurance products that can be further used in digital journeys.

  • Core Insurance Master, the foundation layer that encapsulates major processes and configurations that support insurance solutions.

  • Policy Admin, designed for handling different types of changes affecting an insurance policy during its lifetime - issuance, suspending periods, lapsing, maturity, renewal, changing of payment types.

  • Proposal Configurator, allows companies to configure insurance solutions meant to facilitate the bidding process in the case of a Quote&Bind application, helping insurance companies to adopt personalized digital journeys when launching new products.

  • Claims, process insurance claims by collecting the claim's data, validating it, approving it, and evaluating and issuing the claim payments in accordance with the insurance policy's coverage.

  • Billing and Collection, process insurance premium payments (including payment returns and partially allocated payments) and allocate them to the corresponding insurance policies.