Comprehensive regulatory reporting solution for insurance companies that automates data collection, calculation, reporting, and submission processes. Features include pre-built regulatory templates, validation rules, workflow automation, and audit trails. Supports global insurance regulations including Solvency II, IFRS 17, and local regulatory requirements.
Software that automates the preparation and submission of required regulatory filings, ensuring accuracy and timeliness of information provided to insurance departments.
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Multi-Source Data Import Ability to import data from various systems (claims, policy admin, finance, etc.). |
Solution claims to automate ingestion from multiple industry data sources (claims, policy admin, finance). | |
Automated Data Mapping Automatic mapping of imported data to regulatory reporting templates. |
Automated data mapping to regulatory templates is a stated feature. | |
Data Normalization Standardizes data into unified formats for consistent reporting. |
Pre-validation and harmonization to standard formats for reporting is included. | |
Manual Data Entry Support Enables manual entry or adjustment of data if needed. |
Solution allows manual adjustment and review before submission, indicating manual data entry support. | |
Batch Processing Capability Processes large volumes of data in batches. |
Advertised as supporting high-volume batch processing. | |
Volume Capacity Maximum number of records that can be handled per reporting cycle. |
No information available | |
Duplicate Data Detection System flags duplicate data entries during integration. |
Data validations include duplicate entry flagging. | |
Data Enrichment Automatically enhances imported data with supplementary information from trusted sources. |
Mentions data enrichment from multiple sources to complete reporting datasets. | |
Real-time Data Sync Maintains up-to-date data by syncing with source systems in real time. |
Solution provides real-time API integrations and the ability to sync data in real time. | |
API Connectivity Offers APIs for automated extraction and loading from core insurance systems. |
API documentation and integration assistance is marketed as a key feature. |
Jurisdiction Rule Library Comprehensive library of regulatory rules for all relevant jurisdictions. |
Comprehensive regulatory libraries for numerous jurisdictions are provided (e.g., Solvency II, IFRS 17, US, etc.). | |
Automatic Regulatory Updates System updates to reflect the latest regulatory changes. |
Frequent automated regulatory content updates described in marketing literature. | |
Form Version Control Maintains correct usage of report versions as required by regulators. |
System tracks versions of regulatory forms; form version control supported. | |
Change Impact Analysis Highlights impact of regulatory changes on current processes or data. |
Solution highlights the impact of regulatory rule changes. | |
Statutory Reporting Templates Pre-built templates for common statutory filings (NAIC, Solvency II, etc.). |
Pre-built templates for NAIC, Solvency II, IFRS 17, and local forms are explicit in marketing. | |
Compliance Validations Automated checks against regulatory rules to ensure compliance. |
Automated compliance checks and data validations are core features. | |
Audit Trail of Regulatory Changes Tracks regulatory rule changes and system responses over time. |
Regulatory change history and system actions are logged for audit. | |
Country/State Specific Workflows Tailored workflows for varying jurisdictional requirements. |
Country and state-specific workflows are a product highlight. | |
Exemption Handling Management of circumstances and documentation where exemptions apply. |
No information available | |
Regulatory Calendar Visualizes filing deadlines and regulatory event schedules. |
Visual regulatory calendars and deadline tracking shown in product demo screenshots. |
Automated Filing Generation Creates mandatory reports without manual intervention. |
Automated report generation and population for e-filing is claimed. | |
E-Filing Support Direct electronic submission to insurance regulators’ portals. |
Electronic filing to portals (e.g., NAIC, EIOPA) is a cited capability. | |
Bulk Filing Capabilities Handles multiple filings simultaneously for large insurers. |
Bulk/multi-company filings described in global insurer use cases. | |
Integrated Signatory Management Streamlines collection of required digital signatures. |
Digital signature management supported by workflow. | |
Report Scheduling Ability to schedule generation and submission of filings. |
Scheduling and automation of reporting workflow is explicitly stated. | |
Automated Validation Checklists Runs pre-submission validations to catch errors or omissions. |
Automated validation checklists are featured in the data quality section. | |
Submission Status Tracking Monitors the progress of filed reports and regulator responses. |
Tracks submission status and regulator responses in dashboards. | |
Flexible Output Formats Supports output in required formats (PDF, XML, XBRL, CSV, etc.). |
Multiple output/filing formats are supported by the engine (PDF, XML, XBRL, CSV, etc.). | |
Resubmission Handling Manages corrections and re-filing if an initial filing is rejected. |
The system manages full resubmission/correction/override workflows. | |
Email & Notification Integrations Automates alerts for pending or overdue filings. |
Real-time e-mail reminders and task notifications are cited as available. |
Detailed Audit Logs Tracks every system and user action for complete transparency. |
Comprehensive, exportable audit logs are part of the audit trail functions. | |
User Action Tracking Links changes in reports to individual users. |
Tracks changes by user, supports granular auditability. | |
Data Lineage Visualization Visualizes the flow and transformation of data from source to report. |
Data lineage features visualizing source-to-report flow are described. | |
Time-Stamped Change History Provides time and date stamps for all edits and submissions. |
Time-stamped history/audit trails are explicitly stated as available. | |
Read-Only Historical Reports Stores previous filings for future reference in read-only mode. |
Previous filings are accessible in read-only/historical mode. | |
Exportable Audit Trails Offers audit logs in exportable formats for regulators or auditors. |
Audits can be exported (PDF, Excel, etc.) for compliance review. | |
Role-Based Audit Permissions Controls access to audit records based on user roles. |
Audit log/privacy is controlled by access/role (RBAC model in use). | |
Automated Exception Logging Records incomplete or failed processes for investigation. |
Exception logging and error diagnosis are built into system monitoring. | |
Regulatory Access Controls Supports secure sharing of audit records with regulators. |
Secure regulator/auditor access controls described (external review modes). | |
Tamper Detection Detects and reports any unauthorized alterations to records. |
Audit trails are tamper-evident and alert for modifications. |
Automated Data Quality Checks Systematic validation of data accuracy and completeness. |
Automated, systematic data quality/accuracy checks. | |
Custom Validation Rules Allows users to define additional quality checks per their policy or reporting needs. |
Users can define and configure their own business/validation rules. | |
Anomaly Detection Detects out-of-range or unexpected data values. |
Anomaly/outlier detection capabilities exist for data. | |
Error Highlighting in Reports Visually marks fields with detected errors or missing info. |
Fields with errors or missing data are clearly marked in user interface. | |
Data Completeness Dashboard Provides visual metrics of data quality status. |
Dashboards showing completeness and quality metrics are advertised. | |
Validation Coverage Number of unique validation rules enforced. |
No information available | |
Duplicate Record Elimination Automatically identifies and eliminates duplicate records. |
Duplicate identification and elimination is connected to the data quality engine. | |
Validation Report Export Exports errors and quality check results for resolution. |
Validation error exports available for remediation and audit. | |
Interactive Error Resolution Allows users to review and fix validation issues inline. |
Issues can be interactively reviewed and resolved within the UI. | |
Audit of Validation Failures Tracks and logs all failed validations. |
All data quality/validation failures are tracked in the audit log. |
Role-Based Access Control (RBAC) Enforces permissions based on user roles (admin, preparer, approver, auditor, etc.). |
Implements granular role-based access control (preparer, reviewer, auditor, etc.). | |
Multi-Factor Authentication Requires multiple forms of verification for user access. |
Supports multi-factor authentication (MFA). | |
End-to-End Encryption Encrypts data both in transit and at rest. |
Data is encrypted both in-transit and at-rest as standard for FIS solutions. | |
Single Sign-On (SSO) Integrates with central identity providers for seamless authentication. |
Integration with SSO/central identity management confirmed in technical docs. | |
Granular Data Permissions Defines access at the field, report, or function level. |
Supports field, report, and module-level access controls. | |
Activity-Based Session Timeouts Logs users out after predefined inactivity. |
Configurable session timeout based on policy. | |
Access Attempt Logging Records successful and failed login attempts. |
Logs successful and failed login attempts for compliance. | |
IP Whitelisting/Blacklisting Restricts access to specified locations or devices. |
Can limit system access by IP/location where required by policy. | |
User Group Management Organizes users into groups for streamlined permissions management. |
User group/role management is described in workflow features. | |
Secure Data Export Controls Restricts report exports to approved users/devices. |
Restricts report and data export to authorized users. |
Custom Workflow Design Allows administrators to create and edit reporting workflows. |
Workflow designer allows administrative customization and editing. | |
Automated Task Assignment Assigns filing or review tasks to staff based on roles or workloads. |
Assignment/notification automation is included in workflow. | |
Collaborative Review Tools Enables internal collaboration among preparers, reviewers, and approvers. |
Users collaborate, review, and approve within the system workspace. | |
Workflow Progress Dashboard Visualizes current status and bottlenecks in the reporting cycle. |
Dashboard shows workflow progress and identifies process bottlenecks. | |
Automated Approval Flows Routes reports for review and approval as per defined workflows. |
Configurable, automated approval flows part of standard reporting workflows. | |
Workflow Templates Standardized, reusable processes for frequent reports. |
Library of workflow templates for common processes. | |
Task Escalation Logic Automatically escalates overdue or rejected tasks to supervisors. |
Task escalation and notification for at-risk filings are highlighted functions. | |
Workflow Customization Limits Number of customizable workflow steps. |
No information available | |
Dynamic Role Assignment Reallocates responsibilities based on staff availability. |
Can adjust role assignment dynamically, as stated in workflow customization. | |
Versioned Approval Chains Tracks approval versions for each filing iteration. |
Tracks approval versions and maintains filing iterations. |
Intuitive Dashboards User-friendly dashboards summarizing tasks, statuses, and deadlines. |
Dashboards summarize tasks, progress, and deadlines. | |
Guided Workflows Step-by-step guides through each stage of reporting. |
Guided workflows and step-by-step process guidance available. | |
Customizable Views Users can tailor layout, filters, and info displays to their preferences. |
Users can customize layouts, dashboards, and filter views. | |
Accessibility Compliance Meets accessibility standards (e.g., WCAG, Section 508). |
Accessibility standards (e.g., WCAG) adherence is mentioned in FIS's product literature. | |
Multi-Lingual Support Offers interface in multiple languages. |
Multi-language user interfaces available as standard for global compliance tools. | |
Mobile Optimization Fully functional on mobile and tablet devices. |
FIS highlights support for mobile/tablet device workflows. | |
Contextual Help & Tooltips Embedded help resources for common issues or fields. |
Help, tooltips, and contextual resources embedded in the UI. | |
Error Resolution Wizards Stepwise assistants for fixing common filing errors. |
Guided error resolution or wizard-based correction functions described. | |
Personalized Notifications Customizable notifications and reminders. |
Personalized and scheduled notifications are a product feature. | |
Rich Documentation Hub Centralized manuals, how-to guides, and policy references. |
Centralized documentation, guides, and references available via portal. |
Trend Analysis Identifies emerging patterns in compliance or filing activity. |
Trend detection and reporting included in analytics modules. | |
Key Metric Dashboards Summarizes performance on critical compliance metrics. |
Key compliance and operational dashboard metrics provided. | |
Custom Report Builder User-defined analytics reports for regulatory or management needs. |
Users can define custom management/regulatory reports in the analytics module. | |
Root Cause Analysis Helps identify reasons for validation errors or regulatory rejections. |
Analytics provides reporting on root causes of regulatory rejection/validation errors. | |
Exportable Analytics Allows exporting reports and insights to various formats. |
Exports of analytics/reports in multiple formats available. | |
Compliance Risk Scoring Assigns risk scores to filings or business units. |
Compliance risk scoring dashboards and analysis evident in product screenshots. | |
Peer Benchmarking Compares performance with other insurers (if available). |
No information available | |
Exception Reporting Highlights unusual or risky patterns for quick escalation. |
Exception reporting and escalation for anomalies are part of analytics. | |
Reporting Cycle Time Average time taken from data collection to filing. |
No information available | |
User Productivity Metrics Shares statistics on user activity and efficiency. |
Operational/efficiency dashboards and productivity metrics highlighted in analytics. |
24/7 Customer Support Round-the-clock access to technical assistance. |
FIS support includes 24/7 customer service coverage. | |
Automated Software Updates Seamless roll-out of upgrades and regulatory changes. |
Automatic, seamless software and regulatory content updates via the SaaS/cloud model. | |
Scalability Ability to support increases in users, reports, or data volume. |
Advertised as scalable for very large insurers/volumes/users. | |
Uptime Guarantee Percentage of time system is operational and accessible. |
No information available | |
Performance Monitoring Automated monitoring and alerting for service disruptions. |
Integrated performance and outage monitoring described. | |
Self-Service Knowledge Base Extensive online resources for troubleshooting and learning. |
Self-service support resources and knowledge base are promoted via portal/help center. | |
Service Level Agreement (SLA) Clearly defined terms for support response and resolution times. |
Published and contractually-defined SLAs available for FIS solutions. | |
Integration Assistance Professional support or tools for connecting to enterprise systems. |
Integration assistance is available as a supported professional service. | |
Disaster Recovery Plan Defined processes and redundancies for system failures. |
Disaster recovery and high availability are mandated by FIS as part of product delivery. | |
Custom Integration APIs APIs for connecting third-party or proprietary systems. |
Custom integration APIs are called out for connecting to in-house or third-party platforms. |
Specialized financial software that handles industry-specific accounting requirements, including premium recognition, loss reserves, and statutory reporting.
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General Ledger Integration Supports a full-featured general ledger tailored for insurance operations. |
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Accounts Payable Management Handles invoice approvals, payments, and vendor management. |
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Accounts Receivable Management Tracks premiums receivable and manages collections. |
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Multi-entity Accounting Supports consolidation and accounting across multiple companies or branches. |
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Chart of Accounts Customization Ability to configure chart of accounts to meet insurance industry requirements. |
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Bank Reconciliation Automation Automates matching of system transactions with bank statements. |
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Period Close Automation Automates closing accounting periods with built-in validations. |
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Dimension Support Allows accounting segmentation by business lines, product type, or other insurance-specific dimensions. |
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Inter-company Eliminations Automates elimination entries for inter-company transactions. |
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Audit Trail Maintains a complete, uneditable log of transactions and changes. |
Comprehensive, immutable audit trail featured for regulatory and internal compliance. | |
Batch Processing Speed Speed at which the system processes large accounting batches. |
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Concurrent User Support Number of simultaneous users supported. |
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Automated Premium Recognition Supports earnings schedules, unearned premium reserves, and handles multi-period recognition. |
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Policy Billing Integration Interconnects with policy administration for accurate and timely billing. |
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Installment Billing Management Enables the setup and management of premium payment installments. |
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Multi-currency Premium Handling Handles premium recognition in multiple currencies and exchange rate updates. |
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Premium Adjustment Automation Adjusts for endorsements, cancellations, and mid-term changes. |
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Aging Reports Automated generation of aged premium receivables. |
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Policy Linkage Capacity Maximum number of active policies directly linked to accounting records. |
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Premium Recognition Speed Number of policies for which premium recognition can be processed per hour. |
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Negative Premium Handling Supports reversal and refund of premiums. |
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Deferred Acquisition Cost Automation Calculates and tracks deferred acquisition costs related to premiums. |
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Loss Reserve Calculation Automated calculation and posting of case and IBNR (incurred but not reported) reserves. |
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Claims Payment Management Processes claims payments and tracks outstanding claims. |
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Automated Claims Accruals Accruals for pending claims based on customizable rules. |
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Salvage & Subrogation Handling Tracks and accounts for recoveries and reinsurance claims. |
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Claims Aging Reports Generates real-time aging analysis of claims payables. |
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Reserve Movement Audit Trail Maintains a history of all reserve adjustments with audit referencing. |
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Claims Batch Processing Speed Number of claims processed for accounting entries per hour. |
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Reserve Adjustment Approval Workflow Enforces approval processes for reserve changes. |
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Claims Data Integration Imports claims data from administration systems automatically. |
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Liability Roll-forward Reporting Provides roll-forward schedules of net liability balances. |
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Ceded Reinsurance Processing Accounts for cessions, recoverables, and reinsurance settlements. |
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Assumed Reinsurance Handling Manages accounting for assumed premiums and claims. |
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Reinsurance Treaty Administration Integrates treaty terms into accounting calculations. |
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Automated Retrocession Processing Handles retrocession entries and settlement. |
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Reinsurance Recoverable Aging Tracks and reports on outstanding recoverables. |
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Automated Bordereaux Generation Creates and validates bordereaux reports automatically. |
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Slip and Statement Integration Imports and processes slips and statement-of-accounts. |
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Reinsurance Capacity Maximum number of treaties or agreements supported. |
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Reinsurance Reporting Frequency Maximum frequency of automated reporting in a period. |
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Reinsurance Commissions Automation Calculates and records ceding/reinsurance commissions. |
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Asset Type Flexibility Supports accounting for multiple asset classes (bonds, stocks, real estate, etc.). |
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Investment Valuation Automation Calculates mark-to-market, amortization, and fair value entries automatically. |
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Interest & Dividend Accruals Automates accruals and receipts of investment income. |
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Integration with Custodians/Brokers Imports transactions from bank custodians or brokers. |
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Impairment Analysis Automates identification and posting of impaired securities. |
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Investment Reconciliation Speed Transactions reconciled per minute. |
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Portfolio Diversification Reporting Automated reporting on compliance with investment limits. |
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Trade Settlement Automation Automates posting of trade settlements. |
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Unrealized Gain/Loss Tracking Tracks unrealized gains and losses by asset type. |
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Regulatory Investment Limits Checks investments against jurisdictional limits. |
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Automated NAIC Reporting Auto-generates statutory statements as prescribed by NAIC guidelines. |
Automated NAIC and other statutory reporting is a core capability, as cited in public product documentation. | |
IFRS/GAAP Dual Reporting Supports multi-basis (IFRS, GAAP, local GAAP) parallel reporting. |
Supports multi-standard/regulatory reporting: Solvency II, IFRS, local GAAP, per product details. | |
Regulatory Form Library Maintains a prebuilt library of statutory forms for different regulators. |
The product comes with prebuilt regulatory templates and libraries for many jurisdictions. | |
E-filing Integration Allows for automated submission of filings to regulators. |
E-filing/automated submission of reports is explicitly mentioned in product brochures online. | |
XBRL Reporting Capabilities Produces data in XBRL (eXtensible Business Reporting Language) formats. |
XBRL reporting output is specifically listed (Solvency II, EIOPA, others require XBRL). | |
Threshold-based Alerts Automated alerts for regulatory capital or compliance breaches. |
The product advertises threshold-based alerts and workflow automation supporting compliance management. | |
Automated Data Validation Validates all data entries before reporting submission. |
Automated data validation against regulatory rules is a promoted feature. | |
Filing Cycle Support Maximum supported reporting cycles per year. |
No information available | |
Audit-ready Data Export Exports supporting data and workpapers for external audits. |
Reports and workpapers export for audit trail is a standard feature. | |
Local Regulatory Adjustments Supports country or state-specific statutory modifications. |
Support for local regulatory/statutory adjustments is evident, as it is promoted as a global platform covering local requirements. |
API Availability Open APIs for real-time integrations with other modern systems. |
Open APIs and real-time integration are advertised as part of FIS’s Insurance product platform. | |
Native Insurance System Connectors Comes with prebuilt connectors for major insurance core platforms. |
Native insurance system connectors are standard — e.g., with policy admin, actuarial, accounting solutions. | |
Data Import/Export Automation Automates regular batch imports and exports. |
Data import/export automation is directly referenced as part of regulatory workflow automation. | |
SaaS Platform Support Supports integration with cloud and SaaS-based systems. |
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Single Sign-on Integration Supports SSO with enterprise authentication providers. |
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Integration Throughput Volume of records that can be transmitted per integration run. |
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Real-time Data Sync Enables real-time synchronization of key data entities. |
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Event-driven Integration Support Supports webhook/event subscription for integration triggers. |
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Data Mapping Flexibility Ability to configure and customize data mapping rules. |
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Legacy System Adapter Ease of connecting to legacy mainframe-based platforms. |
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Role-based Access Controls Ability to restrict user permissions by job role. |
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Data Encryption at Rest All data stored on disk is securely encrypted. |
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Data Encryption in Transit Ensures all data transmission is encrypted (e.g., TLS). |
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Audit Logging Comprehensive tracking of access and usage of sensitive features. |
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Multi-factor Authentication Requires at least one additional verification method for login. |
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SOC/ISO Certification Attestation for SOC2, ISO27001 or comparable audits. |
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Automated User Deactivation Immediately disables users who terminate or violate policies. |
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Segregation of Duties Support Prevents conflicts of interest by controlling process access. |
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Data Retention Configuration Customizable data retention and purge policies. |
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Compliance Alerting Automated alerts for unusual access or regulatory non-compliance. |
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Customizable Dashboards Dashboards can be configured by user or role. |
Configurable dashboards and workflow monitoring are highlighted in product marketing. | |
Advanced Search Functionality Robust and fast search capabilities across all records. |
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Mobile Access Functional access across tablets and phones. |
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Context-sensitive Help Built-in help and support tied to each screen. |
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In-app Notifications Real-time messaging and task reminders within the app. |
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Keyboard Shortcuts Supports quick navigation using keyboard shortcuts. |
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System Average Response Time Average time for page or action to load. |
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Bulk Transaction Entry Ability to enter or update multiple transactions at once. |
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Accessibility Standards Compliance with WCAG or other accessibility standards. |
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Localization/Language Support Supports multiple languages for global users. |
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Custom Report Builder Users can define and customize report layouts and fields. |
Custom report builder is referenced as available for user-driven reporting needs. | |
Ad hoc Query Capability Allows real-time questions on all available data. |
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Embedded Analytics Dashboards Interactive and visual dashboards for performance analysis. |
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Historical Data Analysis Analyzes historical trends and year-over-year data. |
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Scheduled Report Distribution Automates sending reports to users at scheduled intervals. |
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Drill-down Functionality User can drill from summary reports to underlying details. |
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Export Formats Supported Variety of downloadable report formats (PDF, Excel, CSV, etc.). |
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Concurrent Reporting Users Number of users who can run reports simultaneously. |
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Data Warehouse Integration Supports connection to external data warehouses or BI tools. |
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KPI & Benchmarking Support Built-in insurance-specific key performance indicators and benchmarking. |
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Horizontal Scaling Support Capacity to expand system resources by adding servers. |
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Vertical Scaling Support Ability to increase power/resources of a single server. |
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Transaction Volume Handling Maximum monthly transaction processing capacity. |
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Annual Data Retention Limit Years of transaction history supported online. |
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Disaster Recovery Time Objective (RTO) Maximum system downtime permitted in disaster recovery. |
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Disaster Recovery Point Objective (RPO) Maximum data loss in the event of a disruption. |
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99.9% Availability SLA Service guarantees for system uptime. |
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24x7 Support Availability Provides all-day support coverage. |
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Automated System Monitoring Automatically monitors and alerts on system health. |
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Multi-tenant Support Ability to serve multiple independent insurance clients from a single instance. |
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