November Special Edition 2021 (Vol- I)
The Silicon Review
Managing all the tasks manually is tough, especially in the insurance industry which is highly driven by document-intensive processes. But with the introduction of digital technologies, the entire focus has shifted to a new business model which aims to boost efficiency and increase ROI of the insurance agencies. With increased amount of business pouring in every day, Insurance agencies face a tough time in operating effectively. To mitigate the challenges of managing tremendous amount of work, most of the insurance agencies have started using insurance agency management system. It automates complete view of tasks, sales, agent activities, and account information, etc., for any member of the team to work on. Through the automation process, the insurance agents can keep their records in a single database and provide services through a unified platform.
BriteCore is one such firm that leverages modern technology to solve everyday business challenges, so your team can work faster and more efficiently. Collaborate from anywhere using powerful, web-based tools that streamline tasks, optimize workflows, and make doing business with your company easy for agents and customers. It was built from the ground up using the latest modern technology. Deployed using the Amazon Web Services cloud, its enterprise-level software is continually updated to guarantee maximum security, efficiency, and durability at scale. More than 60 insurance carriers, MGAs, and start-ups rely on BriteCore to increase speed to market, improve competitive position, and support growth.
Best Insurance Management Services and Solutions Offered
Policy Management: Working in tandem with BriteQuote, BritePolicies is a full policy admin system for P&C insurers. End-to-end policy processing is managed using convenient interface tools, flexible workflows, and automatic processes that support teamwork and productivity. BriteCore’s configurable policy administration software supports a wide variety of multi-line, multi-location insurance policies across Personal, Commercial, and Specialty lines of business.
Billing: BriteCore’s software features an advanced Billing and Accounts Receivable module, especially for insurers that work in combination with payment processing, premium accounting, document generation, and reporting to manage the entire billing and payment lifecycle of a policy. The accounting module is protected by over 6,000 automated system tests that run nightly to verify that the system is generating balances and producing documents as expected.
Claims Management: BriteCore combines claims administration and business process management (BPM) to support the end-to-end claims process. From open to close, agents and adjusters work collaboratively and efficiently within BriteCore's claims management software to process FNOL, establish reserves, upload reports, issue payments, and settle claims. BriteCore offers a standard reports library with over 30 reports (including financial, claims, and underwriting reports) that address typical industry reporting needs.
Policyholder Portal: BriteCore’s Policyholder Portal empowers your customers with self-service capabilities. Available from a web browser or mobile app, the portal provides a new digital channel for your policyholders to view and update their policy, billing, and claims information at any time, from any device, wherever they are. BriteLines is a set of product configuration tools that empowers insurers to define their own products and rates. Users can modify existing products, or build coverages, endorsements, underwriting rules, rates, and forms from the ground up.
Cloud Platform: The BriteCore platform is hosted in the AWS Cloud - the leading hyperscale provider. Every customer has deployed to AWS. As a solution designed for the cloud, BriteCore has never had to deal with the disruption of "lifting and shifting" an on-premises solution to the cloud. Its cloud-native architecture makes extensive use of AWS native services, maximizing the platform’s performance, scalability, and availability. The platform also incorporates a centralized user identity management service that supports single sign-on (SSO) for your entire suite of BriteCore apps and integrated systems.
The Leader Upfront
Ray Villeneuve serves as the Chief Executive Officer of BriteCore. He is a disciplined and self-motivated professional with a proven track record building and leading high-performance organizations to achieve aggressive revenue goals and market leadership.