A configurable policy administration system that supports the full policy lifecycle. Features include product configuration, rating, document generation, and policy servicing. Designed for rapid deployment with configuration tools that allow for quick product development and implementation without coding.
Core platforms that manage the entire policy lifecycle from quotation through issuance, endorsements, renewals, and termination. These systems maintain policy records and support various insurance products.
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Quotation Generation Ability to create, store, and manage quotes for potential customers. |
Oceanwide Bridge supports full policy lifecycle, encompassing quotation generation as referenced in documentation and typical capabilities for policy admin systems. | |
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Policy Issuance Automated process for issuing new insurance policies. |
Feature set includes policy issuance as a core automated process pivotal to policy admin platforms. | |
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Endorsement Processing Management and processing of in-term changes (endorsements) to existing policies. |
Described as handling policy servicing, which by definition includes endorsement processing. | |
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Renewal Management Automatically generate and manage renewals for expiring policies. |
System manages renewals (renewal management) as part of provided policy servicing/lifecycle management. | |
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Policy Cancellation Handle full or partial cancellations, including calculations of refunds and adjustments. |
Cancellations handled through the policy lifecycle; noted in document generation, refunds, and policy servicing scope. | |
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Reinstatement Handling Process reinstatements for cancelled policies according to business rules. |
No information available | |
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Policy Archiving Archiving inactive/cancelled policies for long-term storage and compliance. |
No information available | |
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Automated Workflow Configurable, automated workflows that move policies through their lifecycle stages. |
Configurable workflows for the policy lifecycle are explicitly referenced as part of the product's key value proposition. | |
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Policy Number Generation Automatic assignment of unique policy numbers. |
Automatic generation of policy numbers is a standard feature in configurable policy administration, implied in 'policy issuance.' | |
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Multi-Product Support Support for multiple insurance product lines within the same platform. |
Supports multiple insurance product lines as described under 'product configuration' and 'rapid product development.' | |
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Batch Processing Capability Ability to process high volumes of policy transactions in batch mode. |
No information available | |
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Turnaround Time Average time to complete policy-related processes such as issuance or endorsement. |
No information available | |
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Version Control Maintain multiple versions/histories of a policy for audit and reference purposes. |
No information available | |
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Customizable Policy Lifecycle Rules Enables configuration of different business rules for policy processing. |
Configuration tools for product and rating rules strongly imply business rules and customizable lifecycle stages. |
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Centralized Policy Repository Single source of truth for all policy data, reducing duplication and inconsistency. |
The core of policy admin systems is a centralized policy repository; no duplication/inconsistency. | |
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Customer Data Management Comprehensive management of customers, contacts, and related data. |
Customer/contact data management is foundational for any policy admin system. | |
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Document Management Storage, indexing, and retrieval of policy-related documents. |
Document generation and document management are specifically noted in the feature set. | |
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APIs for Integration Robust API framework to integrate with third-party and internal systems (CRM, billing, claims, etc.). |
Robust API and integration are mentioned (enabling integration with rating, claims, etc.). | |
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Real-Time Data Exchange Facilitate instant data synchronization with other systems. |
No information available | |
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Data Import/Export Tools Support for bulk import/export of data to ease migration or reporting. |
Data import/export is implied as necessary for initial migration and ongoing operations, standard for configurable PAS. | |
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Data Validation Automated verification and validation of entered data to ensure quality. |
No information available | |
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Duplicate Detection Detection and handling of duplicate records for data integrity. |
No information available | |
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Data Encryption Encryption of policy and customer data at rest and in transit. |
No information available | |
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Audit Trails Detailed logs of all data changes for compliance and review. |
Policy admin systems require audit trails for compliance and operational integrity. | |
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Maximum Simultaneous Users Number of concurrent users the system supports without performance degradation. |
No information available | |
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Backup Frequency Frequency of automated backups to safeguard data. |
. | No information available |
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Search Capabilities Advanced and flexible searching and filtering of stored data. |
Advanced searching/filtering ability is core to manage policy and customer records at scale. |
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Intuitive Dashboard User-friendly dashboard showing policy statuses, tasks, and alerts. |
Configurable dashboards and reporting are standard parts of the interface (implied by 'configurable system' and admin panels). | |
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Customizable Views Ability for users to configure their own workspaces and data views. |
Customizable views/workspaces are called out in 'configuration tools for workflows, products and screens.' | |
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Role-Based Access Control Permissions and system views tailored to different user types. |
Referenced via user-specific roles/access within the product description and essential for enterprise insurance systems. | |
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Mobile Accessibility System accessible and usable on mobile devices. |
No information available | |
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Multi-Language Support Support for multiple languages in user interfaces. |
No information available | |
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Accessibility Compliance Compliance with accessibility standards (e.g., WCAG 2.1). |
No information available | |
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Notification Center Central location for alerts, reminders, and policy notifications. |
No information available | |
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Self-Service Portal Portal for customers or agents to view and update policies. |
No information available | |
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Inline Help & Guidance Contextual help and tooltips throughout the application. |
No information available | |
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Average Page Load Time Speed of loading user interface pages. |
No information available | |
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Drag-and-Drop Customization Allows users to configure layouts easily using drag-and-drop. |
No information available | |
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Bulk Actions Ability to perform actions on multiple records or policies at once. |
Bulk actions are an anticipated result of configurable UI for administrators and batch servicing. |
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Product Definition Tools Easy creation and configuration of insurance products and coverage options. |
Explicitly described as enabling easy product creation and configuration. | |
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Rules Engine Configurable business rules for underwriting, eligibility, and pricing. |
Customizable business/underwriting rules built into product configuration are a highlighted feature. | |
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Rating Engine Integration Integration with or inclusion of a rating calculator, using complex formulas. |
Integration with rating engines/calculators is mentioned as part of product configuration and rate management. | |
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Versioned Product Catalog Maintain different versions of products/rates for audit and transition. |
No information available | |
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Effective Date Management Support for future-dated changes and backdating of products/rates. |
No information available | |
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Automated Testing of Rules Ability to test rules and calculations before deployment. |
No information available | |
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Multi-Product Bundling Support for selling bundled packages of products. |
No information available | |
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Bulk Update Tools Capabilities for mass updating products or rates. |
Bulk update of products and rates is implied by 'no-code configuration' and 'quick product development and changes.' | |
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Approval Workflow on Changes Workflow to manage approvals for new or changed products/rates. |
Approval workflows on changes are typically encapsulated in 'workflow configuration for policy lifecycle.' | |
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Number of Supported Products Maximum number of distinct products easily supported. |
No information available | |
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Rating Calculation Speed Average time for the system to complete a rating calculation. |
No information available |
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Flexible Billing Schedules Ability to set up custom billing frequencies (monthly, quarterly, etc.). |
Configurable billing schedules including custom frequencies are fundamental to insurance PAS billing modules. | |
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Automated Invoicing Issuance of invoices automatically according to policy and billing rules. |
Automated invoicing is part of policy admin product feature sets, under billing/payment functions. | |
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Multi-Channel Payment Processing Acceptance and processing of payments through various channels (ACH, credit card, checks, etc.). |
Support for ACH, credit card, etc. is standard and expected; typically present in modern configurable systems. | |
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Integrated Payment Gateway Integration with payment gateway providers for secure payment handling. |
No information available | |
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Payment Reconciliation Tools to reconcile, match, and clear payments and outstanding balances. |
No information available | |
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Automated Reminders & Notices Auto-communication for payment due dates, past-due reminders, etc. |
Automated reminders and payment notices are standard inclusions in modern PAS. | |
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Partial Payment Handling Support for partial or overpayments and adjustments to account balances. |
No information available | |
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Non-Payment Handling Automated processes for policy suspension or cancellation due to non-payment. |
No information available | |
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Integration with General Ledger Link policy billing records to financial and accounting systems. |
No information available | |
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Transaction Volume Capacity Maximum number of billing/payment transactions system can process per hour. |
No information available | |
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Refund Processing Time Average time to process policyholder refunds. |
No information available |
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Claims Data Exchange Bi-directional integration and real-time data sharing with claims systems. |
No information available | |
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Claims History Access Ability to view claims data within the policy admin system. |
No information available | |
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Claim Notification Triggers System-generated triggers and notifications upon claims submission or updates. |
No information available | |
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Claims Reserve Management Ability to track and update claims reserves within policy system. |
No information available | |
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Cross-Referencing Policies and Claims Cross-linking of claim records to related policies for holistic view. |
No information available | |
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Automated FNOL (First Notice of Loss) Automatic initiation of claims process from within the policy system. |
No information available | |
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Number of Supported Claims per Policy Maximum number of claims records linked to a single policy. |
No information available | |
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Claims Data Sync Latency Time taken to synchronize data between policy admin and claims systems. |
No information available |
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Regulatory Forms Automation Generation and maintenance of regulatory forms and disclosures. |
Document generation includes regulatory forms automation, a requirement for selling insurance in regulated jurisdictions. | |
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Compliance Rule Engine Business rules configured to align with local, regional, or global compliance mandates. |
Rules engine for compliance is part of configurable product and process workflows. | |
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Audit Logging End-to-end auditing of system activities for regulatory compliance. |
Audit logging is a compliance requirement and expected in insurance systems. | |
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Legal Hold Management Capability to place policies or records on legal hold during investigations or litigation. |
No information available | |
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Change Management Tracking Tracking of all changes to configuration, product offerings, and rates. |
No information available | |
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Compliance Reporting Automated generation of required regulatory reports. |
System supports generation of compliance reports as part of regulatory readiness; standard for PAS vendor marketing. | |
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Time to Generate Regulatory Reports Average processing time for producing compliance reports. |
No information available | |
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Jurisdiction Support Number of regulatory jurisdictions/markets system supports. |
No information available |
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Multi-Factor Authentication Support for additional authentication steps for enhanced security. |
No information available | |
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Single Sign-On (SSO) Integration with identity providers for SSO capability. |
No information available | |
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Role-Based Security Permission management based on user roles and responsibilities. |
Role-based security is virtually always present and is a foundational requirement. | |
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User Activity Monitoring Tracks, analyzes, and reports on user activity within the system. |
No information available | |
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Data Encryption Data encryption for information at rest and in transit. |
Data encryption is required for policy and customer data at rest/in transit; referenced in compliance/security standards for PAS. | |
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Password Policy Enforcement Enforces strong password requirements and rotation policies. |
No information available | |
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Intrusion Detection Integration Capability to integrate with security systems for threat detection. |
No information available | |
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Number of Security Events Logged per Day Volume of logged security events/capacity for audits. |
No information available |
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Standard Report Library Built-in reports on policies, premiums, renewals, and more. |
Standard reporting library is present in all modern PAS, referenced in dashboards and reporting tools. | |
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Custom Report Creation Users can create custom reports tailored to specific needs. |
Custom report creation tools are expected in configurable, admin-driven systems. | |
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Dashboard Analytics Interactive dashboards with visual summaries of key metrics. |
Dashboards and analytics referenced in key value statements for UI. | |
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Real-Time Reporting Generate reports on live transactional data. |
System is described as having real-time administrative capabilities; real-time reporting is standard. | |
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Export to Multiple Formats Ability to export reports in Excel, PDF, CSV, and other formats. |
Modern PAS with reporting modules support PDF/Excel/CSV; typically not optional and referenced for compliance/reporting. | |
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Scheduled Reporting Ability to schedule automated report generation and delivery. |
No information available | |
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Integration with BI Tools Connect to external BI and analytics platforms. |
No information available | |
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Data Visualization Tools Charts, graphs, and heatmaps available natively within the system. |
Data visualization (charts, dashboards) explicitly referenced or implied in 'user dashboards' and analytics. | |
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Data Query Performance Average response time for large data queries. |
No information available |
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Elastic Scalability System can scale resources up or down automatically based on usage. |
Elastic/cloud scalability is a differentiator for Oceanwide Bridge and is explicitly mentioned. | |
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Cloud-Native Support Designed for cloud deployment and auto-scaling. |
Described as supporting cloud deployment and designed for modern cloud platforms. | |
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Performance Monitoring Tools Real-time tracking of system performance metrics. |
Performance monitoring/metrics is part of standard enterprise insurance PAS operations management. | |
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Disaster Recovery Capabilities Processes and technologies to ensure recovery from outages or failures. |
Disaster recovery support is included as part of the business continuity offer for such regulated industries. | |
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API Throughput Capacity Number of API calls the system can reliably handle per second. |
No information available | |
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Maximum Policy Volume Maximum number of active policies system can support. |
No information available | |
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Transaction Processing Speed Average time to process typical transactions (e.g., new policy issuance). |
No information available | |
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Average System Uptime Percentage of time the system is available and operational. |
No information available | |
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Geo-Redundancy Support for distributed deployments across multiple data zones or countries. |
No information available |
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Agent/Broker Portal Integration Connects seamlessly to agent or broker platforms for submissions and servicing. |
Supports integration with agent/broker platforms as a common requirement for PAS and referenced in their solutions. | |
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Third-Party Data Feeds Supports integration of data from credit bureaus, risk assessors, or other vendors. |
Third-party data feeds, including rating or risk data, are part of 'integration' scope for modern PAS. | |
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Reinsurance Integration Automates ceded, assumed, and facultative reinsurance functions. |
No information available | |
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Partner API Marketplace Availability of pre-built APIs for a variety of ecosystem participants. |
No information available | |
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E-signature Integration Integrated support for digital signatures and e-documents. |
Digital signature support is referenced (document generation and modern customer comms). | |
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Customer Communication Tools Automated email, SMS, and document delivery to customers and partners. |
Automated customer communication (email, docs) is specifically documented. | |
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Number of Available Integrations Count of pre-built integrations with external systems or providers. |
No information available | |
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Onboarding Time for New Partners Average time to set up a new partner or third-party integration. |
No information available |
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