Offers integrated policy administration capabilities, ensuring quick policy issuance and comprehensive management of policy lifecycles along with regulatory compliance assistance.
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. |
FIS advertises the ability to create and manage quotes as part of its policy lifecycle management. | |
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Policy Issuance Automated process for issuing new insurance policies. |
Marketing materials specify quick, automated policy issuance as a core function. | |
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Endorsement Processing Management and processing of in-term changes (endorsements) to existing policies. |
Endorsement/change management described under comprehensive policy lifecycle management capabilities. | |
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Renewal Management Automatically generate and manage renewals for expiring policies. |
Renewal automation included in lifecycle management per product documentation. | |
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Policy Cancellation Handle full or partial cancellations, including calculations of refunds and adjustments. |
Policy cancellation and refund calculations are typical for comprehensive admin systems and referenced in features. | |
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Reinstatement Handling Process reinstatements for cancelled policies according to business rules. |
Reinstatement processing supported, as stated in FIS Insurance Solutions documentation. | |
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Policy Archiving Archiving inactive/cancelled policies for long-term storage and compliance. |
Policy archiving for compliance and data retention is a stated feature. | |
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Automated Workflow Configurable, automated workflows that move policies through their lifecycle stages. |
Automated and configurable workflows featured for policy processing. | |
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Policy Number Generation Automatic assignment of unique policy numbers. |
Policy number auto-generation is standard and confirmed by public technical documentation. | |
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Multi-Product Support Support for multiple insurance product lines within the same platform. |
System supports multiple insurance products; FIS serves multiple lines and lines-of-business. | |
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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. |
Audit and versioning support described; common in enterprise insurance systems and implied under compliance features. | |
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Customizable Policy Lifecycle Rules Enables configuration of different business rules for policy processing. |
Configurable rules available, including business-specific policy lifecycle rules. |
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Centralized Policy Repository Single source of truth for all policy data, reducing duplication and inconsistency. |
FIS provides a centralized system for all policy records—single source of truth. | |
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Customer Data Management Comprehensive management of customers, contacts, and related data. |
Customer and contact data management is standard and documented for FIS Insurance. | |
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Document Management Storage, indexing, and retrieval of policy-related documents. |
Document storage, indexing, and retrieval included in content management statements. | |
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APIs for Integration Robust API framework to integrate with third-party and internal systems (CRM, billing, claims, etc.). |
Robust API suite emphasized in integration section of FIS product literature. | |
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Real-Time Data Exchange Facilitate instant data synchronization with other systems. |
Real-time data sync available for external and internal systems, supporting digital ecosystems. | |
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Data Import/Export Tools Support for bulk import/export of data to ease migration or reporting. |
Data import/export for migration/reporting is standard and referenced for ease of integration. | |
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Data Validation Automated verification and validation of entered data to ensure quality. |
Automated data validation built into FIS insurance data management. | |
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Duplicate Detection Detection and handling of duplicate records for data integrity. |
Duplicate detection included under data quality standards and management controls. | |
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Data Encryption Encryption of policy and customer data at rest and in transit. |
End-to-end encryption at rest and in transit is guaranteed per FIS insurance security documentation. | |
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Audit Trails Detailed logs of all data changes for compliance and review. |
Comprehensive audit trails for data changes cited as a compliance feature. | |
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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 search/filtering discussed as part of usability and quick-access tools. |
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Intuitive Dashboard User-friendly dashboard showing policy statuses, tasks, and alerts. |
Intuitive and configurable dashboard is advertised in demo materials and UI screenshots. | |
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Customizable Views Ability for users to configure their own workspaces and data views. |
Custom user-configurable views/workspaces are available per user interface documentation. | |
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Role-Based Access Control Permissions and system views tailored to different user types. |
Role-based access and permissions featured in security and compliance sections. | |
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Mobile Accessibility System accessible and usable on mobile devices. |
Mobile accessibility/compatibility highlighted, including support for tablets/phones. | |
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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). |
FIS is a global vendor and meets accessibility standards in its UI. | |
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Notification Center Central location for alerts, reminders, and policy notifications. |
Notification center/consolidated alerts confirmed in the platform's general workflow descriptions. | |
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Self-Service Portal Portal for customers or agents to view and update policies. |
Self-service portal options described for both agents and customers. | |
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Inline Help & Guidance Contextual help and tooltips throughout the application. |
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Average Page Load Time Speed of loading user interface pages. |
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Drag-and-Drop Customization Allows users to configure layouts easily using drag-and-drop. |
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Bulk Actions Ability to perform actions on multiple records or policies at once. |
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Product Definition Tools Easy creation and configuration of insurance products and coverage options. |
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Rules Engine Configurable business rules for underwriting, eligibility, and pricing. |
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Rating Engine Integration Integration with or inclusion of a rating calculator, using complex formulas. |
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Versioned Product Catalog Maintain different versions of products/rates for audit and transition. |
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Effective Date Management Support for future-dated changes and backdating of products/rates. |
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Automated Testing of Rules Ability to test rules and calculations before deployment. |
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Multi-Product Bundling Support for selling bundled packages of products. |
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Bulk Update Tools Capabilities for mass updating products or rates. |
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Approval Workflow on Changes Workflow to manage approvals for new or changed products/rates. |
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Number of Supported Products Maximum number of distinct products easily supported. |
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Rating Calculation Speed Average time for the system to complete a rating calculation. |
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Flexible Billing Schedules Ability to set up custom billing frequencies (monthly, quarterly, etc.). |
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Automated Invoicing Issuance of invoices automatically according to policy and billing rules. |
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Multi-Channel Payment Processing Acceptance and processing of payments through various channels (ACH, credit card, checks, etc.). |
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Integrated Payment Gateway Integration with payment gateway providers for secure payment handling. |
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Payment Reconciliation Tools to reconcile, match, and clear payments and outstanding balances. |
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Automated Reminders & Notices Auto-communication for payment due dates, past-due reminders, etc. |
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Partial Payment Handling Support for partial or overpayments and adjustments to account balances. |
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Non-Payment Handling Automated processes for policy suspension or cancellation due to non-payment. |
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Integration with General Ledger Link policy billing records to financial and accounting systems. |
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Transaction Volume Capacity Maximum number of billing/payment transactions system can process per hour. |
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Refund Processing Time Average time to process policyholder refunds. |
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Claims Data Exchange Bi-directional integration and real-time data sharing with claims systems. |
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Claims History Access Ability to view claims data within the policy admin system. |
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Claim Notification Triggers System-generated triggers and notifications upon claims submission or updates. |
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Claims Reserve Management Ability to track and update claims reserves within policy system. |
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Cross-Referencing Policies and Claims Cross-linking of claim records to related policies for holistic view. |
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Automated FNOL (First Notice of Loss) Automatic initiation of claims process from within the policy system. |
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Number of Supported Claims per Policy Maximum number of claims records linked to a single policy. |
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Claims Data Sync Latency Time taken to synchronize data between policy admin and claims systems. |
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Regulatory Forms Automation Generation and maintenance of regulatory forms and disclosures. |
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Compliance Rule Engine Business rules configured to align with local, regional, or global compliance mandates. |
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Audit Logging End-to-end auditing of system activities for regulatory compliance. |
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Legal Hold Management Capability to place policies or records on legal hold during investigations or litigation. |
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Change Management Tracking Tracking of all changes to configuration, product offerings, and rates. |
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Compliance Reporting Automated generation of required regulatory reports. |
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Time to Generate Regulatory Reports Average processing time for producing compliance reports. |
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Jurisdiction Support Number of regulatory jurisdictions/markets system supports. |
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Multi-Factor Authentication Support for additional authentication steps for enhanced security. |
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Single Sign-On (SSO) Integration with identity providers for SSO capability. |
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Role-Based Security Permission management based on user roles and responsibilities. |
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User Activity Monitoring Tracks, analyzes, and reports on user activity within the system. |
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Data Encryption Data encryption for information at rest and in transit. |
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Password Policy Enforcement Enforces strong password requirements and rotation policies. |
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Intrusion Detection Integration Capability to integrate with security systems for threat detection. |
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Number of Security Events Logged per Day Volume of logged security events/capacity for audits. |
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Standard Report Library Built-in reports on policies, premiums, renewals, and more. |
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Custom Report Creation Users can create custom reports tailored to specific needs. |
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Dashboard Analytics Interactive dashboards with visual summaries of key metrics. |
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Real-Time Reporting Generate reports on live transactional data. |
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Export to Multiple Formats Ability to export reports in Excel, PDF, CSV, and other formats. |
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Scheduled Reporting Ability to schedule automated report generation and delivery. |
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Integration with BI Tools Connect to external BI and analytics platforms. |
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Data Visualization Tools Charts, graphs, and heatmaps available natively within the system. |
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Data Query Performance Average response time for large data queries. |
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Elastic Scalability System can scale resources up or down automatically based on usage. |
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Cloud-Native Support Designed for cloud deployment and auto-scaling. |
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Performance Monitoring Tools Real-time tracking of system performance metrics. |
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Disaster Recovery Capabilities Processes and technologies to ensure recovery from outages or failures. |
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API Throughput Capacity Number of API calls the system can reliably handle per second. |
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Maximum Policy Volume Maximum number of active policies system can support. |
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Transaction Processing Speed Average time to process typical transactions (e.g., new policy issuance). |
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Average System Uptime Percentage of time the system is available and operational. |
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Geo-Redundancy Support for distributed deployments across multiple data zones or countries. |
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Agent/Broker Portal Integration Connects seamlessly to agent or broker platforms for submissions and servicing. |
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Third-Party Data Feeds Supports integration of data from credit bureaus, risk assessors, or other vendors. |
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Reinsurance Integration Automates ceded, assumed, and facultative reinsurance functions. |
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Partner API Marketplace Availability of pre-built APIs for a variety of ecosystem participants. |
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E-signature Integration Integrated support for digital signatures and e-documents. |
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Customer Communication Tools Automated email, SMS, and document delivery to customers and partners. |
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Number of Available Integrations Count of pre-built integrations with external systems or providers. |
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Onboarding Time for New Partners Average time to set up a new partner or third-party integration. |
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