Important features to look for in your insurance software

You’ve made the decision to opt for insurance software – or to switch to a different provider. You know what you need in terms of the benefits and you’re keen to get started with a new system straight away. So, what are the most important features to look for when it comes to finding the right insurance software for your business?

A range of flexible delivery options

Depending on the set up of your business you may be looking for an on-premise solution – or options in the cloud. It’s important to find insurance software that caters to your preferred infrastructure. You may also be looking to use software on a rental basis or via a one time licence purchase and it’s key that the insurance software provider you’re considering partnering with is able to offer you that choice.

The right level of support

From implementation through to ongoing use, it’s crucial to ensure that you will get the right level of support with the insurance software that you opt for. For you that might mean a UK based support team who will treat every business as important no matter what the size. Or it could be support that is designed to ensure that you get the most from an investment you’ve made in insurance software. Or both. Consider what support means to your business and then find the software option that works.

Software design that fits your business

Flexibility and customisation options within the product itself will enable you to optimise an investment in insurance software. This can come in a number of different forms, including:

Reporting

When you’re able to generate the right reports this supports consistency and transparency on an ongoing basis with no need for rekeying. Robust insurance software will give you options to create multiple reports in a limitless number of variations to get the information you need with respect to insights on issues such as rating and claims statistics.

Unique rating

Opt for software that provides the option to update and edit your own rating file and one that can handle any rating set up.

Document preparation

Insurance software has a big role to play in making documenting simpler. Look out for features that allow you to create an unlimited number of documents in the format that best works for your business. Manual processes can be reduced where software enables rules to be introduced that regulate when documents are run.

A clear audit trail

It should be possible to achieve total transparency with your insurance software, right down to seeing who made changes and when. Ideally, it will also offer data viewing opportunities and the tools to restrict what is seen and by whom.

Effective claims management

It should be simple to import whatever is required, whether that’s data or images, so as to manage the entire claims process from one central location.

Interfacing options

Choose an insurance software with an open API that encourages clients to engage with third parties to improve UX.

Simple renewing

If your choice of insurance software enables allows for batch renewal invitations this can not only help to reduce the time involved but minimise errors too.

The right insurance software can make a big difference to your business, from increasing productivity to improving the bottom line.

Get in touch with Mandon Software today for more information.

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About Us

Mandon Software is a UK-based company founded in 1999. We work with customers in a wide range of insurance lines, from marine to healthcare. We are experienced in working in the Lloyd's market and pride ourselves on delivering excellent customer services at all times.