LICOSS key strengths
LICOSS is a single-point system for insurance products and contracting management.
LICOSS can function as a single point of contact for all the process actors - agents, underwriters, actuaries, executives and sales managers.
The system generates and exports predefined reports, also possible to be presented in dashboards mode.
As a web-based solution, LICOSS is easy to distribute and apply within your organisation and for cooperating parties.
The system provides control over such areas as policy application process (errors or misuse) or business logic access.
Our long-term collaboration with a recognised insurance brand translates into 2000+ calculations per month performed with LICOSS.
One modular system to cover the entire process
Sales module
Policy administration
Supporting modulesSales modules
This process of registering and verifying data about a potential customer facilitates the identification of adults, children and business entities. Identification can be carried out remotely or directly. To support remote identification, the external system validates the photos of documents and faces which are uploaded. The extensive identification feature also incorporates the collection of marketing consent confirmations, document storage, verification and process tracking via statuses and e-mail notifications.
An advanced process for creating a new insurance policy, this begins with the identification of the client and the insured. The process makes it possible to perform calculations for defined insurance products. It uses dynamic questionnaires and health surveys, calculating risks and recommendations on that basis. The system generates complete documentation. It also enables a doctor to evaluate the policy and authorised users to correct and modify the risks.
LICOSS allows agents to create an optional proposal based on the system’s recommendations and the products it has to offer. An agent can use the LICOSS built-in calculator to simulate product parameters such as the insured sum and a payment forecast.
Policy administration module
1. Requests
2. Indexations
3. Recommendations
4. Bad risks
5. Claims
Supporting modules
This is a system dashboard which included a contact list, documents, statistics, messages and agent portfolios. All the tools depend on the user’s role in the system.
This module enables the generation and export of predefined reports, including customer reports and monthly and annual statistics.
The LICOSS tasks module is designed for system users who are direct employees of an insurance company. It automatically generates tasks for telemarketers on the basis of data from the system, such as late payments, for example. With this submodule, tasks can also be issued manually. Other functions include the generation of reports, the importing and delegation of tasks and the recording and storage of action histories.
A module for generating, creating and managing information from the system and its users. Notifications are automatically generated for groups or individual users on the basis of actions performed in the system. In addition, notifications based on comments issued by users in various parts of the system can be displayed and messages created by authorised users with strictly defined visibility can be added.
This module is a tool for conducting the process of taking on a new insurance agent or brokerage company.
PZU Lietuva
A life insurance company whose main shareholder is one of Poland’s oldest and largest insurance groups (PZU Group), consisting of almost thirty entities at home and abroad.
Our implementation:
A system which consolidated all the available products into one, multivariant solution and gave the insurance agents additional sales tools, encompassing the entire process:
- data collection and customer identification
- carrying out calculations
- many stages of the confirmation procedures, to the end product, a finalised policy.
Results:
- 1,000 to 2,000+ calculations every month
- process of entering into a contract is reduced from 15 days to 125 minutes.
Choose a system with added-value features
- easy to distribute
- a key to reduced training time
- intuitive, with a simple user interface
- a rapid route to defining, modifying and redistributing insurance products
- maintaining business rules, sales processes, evaluation and a document repository in one place
- functioning as a single point of contact for agents, underwriters, actuaries, executives and sales managers
- control over the policy application process at every stage, preventing errors and misuse
- business logic which is hidden from the agents, transferring the existing logic recorded in Excel sheets directly to the system
- a history of system users’ actions
Out of the box and much more...
Perhaps your company structure is non-standard? Or maybe your products are one-of-a-kind and require customised configuration?
With LICOSS, you will receive not only an out-of-the-box product providing a wealth of features and tools, but also development support from our team of experts, who will help you configure and adapt the product to your unique needs.
A successful go live is just the beginning. Once your LICOSS is launched, we will stay with you to fine-tune it, ensuring it works for you in every way.
