Inforce Data Management
Big Data provides an enormous opportunity on blocks of Inforce business. It can be used for predictive modeling for underwriting, policy persistency, lapse trends, new sales opportunities and many more critical analysis benefits for a carrier and distributor. This page will explore data mining and analytics; and introduce you to solution providers that can turn the data into new opportunities.
Insured Connect is a cloud-based platform that connects Carriers, Distributors, Advisors and Policy Owners into a single ecosystem. Insured Connect and its affiliated companies have been working in the insurance industry for more than 20 years aggregating data and creating technology solutions. For the past ten years in Canada, Insured Connect’s sister company Ticoon has been aggregating investment, banking and insurance data.
Insured Connect’s platform is called ‘NIC’ and it is comprised of four (4) main applications for the four (4) customers in the insurance distribution chain: Insurance Carriers (“NICcarrier”) , Distributors (“NICdistributor”), Advisors (“NICadvisor”) and Policy Owners (“NICpolicyowner”). The four applications create an ecosystem for the management and servicing of in force policies. Insured Connect works behind the scenes as a “secure data transfer” partner, or “service bureau” to the industry, making it easier for insurance companies to push their data to one source while providing Distributors and Advisors with a single solution to access all of their in force business. NIC operates on a modern cloud-based and open architecture that enables Carriers and Distributors to integrate their apps, tools and business services, making it much easier for everyone to do business.
Specialties: Data Aggregation, Data Analytics, Workflow and Automation, and Customer Communications and Engagement Data Feeds: Able to receive ACORD 1203 Holding Transmittal Transactions Security: Data feeds may include PII/PHI data.
Life Insurance Policy Management Software
Proformex is a platform built for the life insurance industry that revolutionizes inforce policy management for independent agents, advisors and trustees. Our life insurance policy management software provides powerful portfolio analytics, individual contract monitoring and easy-to-use policy review reporting tools, putting oversight and control at your fingertips.