Comarch NonLife Insurance

Multi-module policy administration solution to satisfy all insurer’s needs, ensuring high quality customer service, dedicated to all types of property and casualty insurance.

What is Comarch NonLife Insurance?

The Comarch NonLife Insurance solution is dedicated to all insurance companies offering property and casualty insurance (general insurance). Our system handles individual and group products offered to the retail and corporate customers alike. Comarch NonLife Insurance is valued both by insurers offering a traditional portfolio of insurance products and those who specialize in bancassurance or selected niche risks. The system's modular structure greatly facilitates its extension with new components as well as integration with the insurer’s existing software. This core insurance system is enhanced with a user-friendly web portal for front-office operations.

Key business advantages

Automation and cost reduction

Comprehensive management of all, even the most complex product lines in one policy administration system

Short time-to-market

Fast product modification and new product introduction to the non-life insurance market

Open architecture

Easy integration and expansion of core insurance system, thanks to the modular approach and Service-Oriented Architecture

Process flexibility

Based on the workflow engine with task inboxes, managed by power business users

Policy & property management

Comarch NonLife Insurance supports the following business processes:

contractors and property management
automatic premium calculation policy
individual and group contract lifecycle management including technical and administrative endorsement, termination, and cancellation
automatic and manual renewals
end-to-end cash flow management.

Nonlife insurance product management

Product management

Owing to its flexibility and parameterization abilities the Product Management module allows for:

definition of new insurance products from scratch or with the reuse of existing definitions (product package definition or on the level of the insurance/cover definition)
modification of existing ones
mixing different business lines in one product
automated transfer of definitions from the test environment to the production environment
versioning of product life-cycle definitions – every element has its own status tracking and validity period parameters (from, to)
all historic data is stored in the system and cannot be modified or deleted as it may be used by the portfolio of existing policies

This approach significantly reduces the time needed to implement a new product in Comarch NonLife Insurance system by the insurer without at system provider support.

Reinsurance module

Finance & accounting

The Finance & Accounting module is a complementary module of the Comarch NonLife Insurance system that, supports:

incoming cash flow management and reconciliation both for individual and group insurance
bank statement import and bank transfer orders generation (SEPA, SWIFT) – integration with a banking system
subsidiary ledger for insurance business – all insurance business events are categorized, including taxable/non-taxable ones, in order to generate the accounting postings to be transferred to the general ledger
reminders in case of premium non-payment or underpayment over a defined tolerance limit.

Debt management

Technical provision

The module ensures calculation of technical provisions (reserves) required for internal and external reporting. The module can calculate:

provision for unearned premium
unexpired risks provision.

Premium provisions are calculated on the lowest level of details (cover level).

Moreover, having claims data from the claim handling system, the module calculates technical provisions for:

claims:
- provision for reported but not paid claims (RBNP)
- provision for incurred but not enough reported claims (IBNeR)
- provision for incurred but not reported claims (IBNR)
- provision for outstanding claims
claim adjustment costs:
- provision for loss adjustment costs (RBNP)
- provision for loss adjustment costs (IBNR).

Comarch property & casualty policy administration

The Comarch NonLife Insurance solution is able to handle general insurance products for different segments of clients under one solution. The solution supports insurance products for individual clients, self-employed, and business clients (SME and corporate).

Insurance products for individual clients are:

Motor insurance
Property insurance
Personal accident insurance
Travel insurance
Health insurance
Mobile devices insurance
Personal liability insurance
Payment means insurance
Legal protection insurance
Livestock and crops insurance
Pet insurance.

Insurance products for self-employed clients are:

Motor insurance
Property insurance
Personal accident insurance
Travel insurance
Health insurance
Professional liability insurance
Legal protection insurance.

Insurance products for business clients (SME and corporate):

Motor (fleet) insurance
Aviation, marine, railroad insurance
Transport & cargo insurance
Property insurance, real estate
CAR/EAR (Construction and erection insurance)
Liability insurance, error and omission
Directors and officers liability insurance (D&O insurance)
Business interruption insurance
Cyber insurance (cyber risk insurance)
Credit insurance (trade insurance)
Insurance guarantee (bond insurance / surety)
Travel insurance
Payment means insurance.

Many insurance products can be sold through various distribution channels. More and more entities, whose essential activity is not related to insurance, offer their own services / products enriched with insurance.

For instance, banks offering loans, credits, credit cards, or mortgages try to sell these with payment protection insurance (known as credit insurance, credit protection insurance, loan repayment insurance). These insurance products are in fact simplified life insurance, however they also cover risks of death, serious illness, accidents, invalidity, incapacity to work and unemployment.

There are also producers and distributors of white and brown goods, which, just like banks, sell goods in credit, so they can offer payment protection insurance. Additionally producers and distributors can offer insurance of extended warranty for the equipment. There are many more possibilities to link goods, products and services with insurance, and the Comarch NonLife Insurance system supports the handling of such insurance offered in various distribution channels.

The system features:

covering policy and product life cycles for all types of property and casualty insurance
integration with tools supporting all sales channels, i.e. tied agents, brokers, bancassurance, call center, customer portal
handling individual and group policies for retail customers and companies
multi-language, multi-currency, and multi-ledger in case of two or more companies of one capital group
additional handling of simple life and health insurance products
modular system design ensuring quick integration with the insurer’s existing systems

Discover our front-office software!

Integrate your software with Comarch Digital Insurance, an omnichannel front-office solution.

It offers features for non-life insurance products such as real estate, vehicle, health, travel, commercial, and others. All tailored to your needs.

Comarch Digital Insurance includes three applications for distributors, business administrators and end customers. The applications are based on one business logic engine.

Manage customer data, create and delegate tasks, get reminders and much more. Plus, digitalize your policy lifecycle, including:

Needs analysis
Quotations
Policy issuance
Post-sales service (claim registering, amendment, termination)
Policy renewal

Comarch Digital Insurance

Want to learn more?

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