A policy administration system is a software solution that executes insurance functions including rating, quoting, binding, issuing, endorsements, and renewals. Historically, these systems were inflexible, non-customizable, expensive, and an all-or-nothing type solution. But the insurance industry is changing.
Fully modern core insurance systems for policy administration adopt microservices architecture and are hosted in the cloud.
Microservices designate a specific API or application for each insurance function listed above - rating, quoting, etc. This approach to software architecture allows for increased agility and decreased time-to-market for launching insurance products.
Being hosted in the cloud, these policy administration systems are endlessly scalable and reduce development efforts for implementation and maintenance.
Get the ebook introducing microservices for insurance policy administration systems to learn:
How to adapt to the changing insurance landscape.
How to alleviate insurance market pain points with microservices.
How to drive P&C ROI with microservice architecture.
Why Solartis Insure offers the best microservice-enabled and market-tested policy administration software.
Monolithic policy administration systems can inhibit an insurer's ability to issue innovative insurance products and extend to third-party technologies.
Watch a clip from Solartis's ITC 2018 workshop covering tips for decomposing monolithic systems and how to approach digital transformation.
Launch insurance products quickly, reduce development timelines, minimize overhead, and build a customized solution to meet your insurance goals working within your budget.
Solartis provides insurance administration solutions that crack the code on electronic consumption of ISO ERC data and more.
Learn more about Solartis Electronic Consumption of ISO ERC data.
With Solartis, you are not locked into our screens and business flow. Our microservices are completely decoupled from the user interface, This allows you or Solartis to create your own branded User Interface, look and feel, and business flow. And Solartis microservices can be used on any device; a computer, smartphone, iPad, chatbot, or app.
Solartis supports all Commercial and Personal P&C Lines of Business. For all products, Solartis Insure enables product versioning, product cloning, and the reusability of component coverage configurations so you can launch new P&C products in record time.