Cloud Insurance

Cloud Insurance is an insurance platform designed to transform how insurance companies do business. According to the vendor, it offers a range of features to automate insurance processes, improve efficiency, and deliver a better customer experience. Cloud Insurance is suitable for startups, small companies, and mid-sized companies, providing scalability for global operations. It is utilized by insurance providers, insurtech startups, insurance brokers, underwriters, and claims handlers across various industries.

Key Features

Distribution: According to the vendor, Cloud Insurance enables quick and easy onboarding of new partners, automates commission calculations, and tracks partner performance to identify the most profitable partners.

Product Engine: The vendor claims that Cloud Insurance allows for the design and launch of new subscription and usage-based products in a short timeframe. It automates pricing and underwriting processes and empowers product owners to easily add and modify coverages and add-ons.

Policies: Cloud Insurance automates the entire policy lifecycle, integrates upsell and cross-sell offers, personalizes quotes and policy documents, and offers flexible payment intervals and due dates for customers, as per the vendor.

Claims: The vendor states that Cloud Insurance fully automates the claim payment process, provides transparent self-service options for claimants, reviews and authorizes payouts to prevent fraud, and allows various stakeholders to fill out claims.

Finance: According to the vendor, Cloud Insurance provides real-time oversight of the business's financials, automates invoicing and payments, offers flexible payment methods and frequency options for customers, and complies with multiple currency and regulatory requirements.

CRM: Cloud Insurance allows for the consolidation of customer data in one place, traces customer historical actions, sets up omnichannel communication, and enables quick search, changes, and analysis of customer data, as per the vendor.

Workflow: The vendor claims that Cloud Insurance enables the creation of efficient workflows, manual override of underwriting in exceptional cases, integration of cross-sell and upsell functionality, and streamlining of processes such as underwriting, payment reminders, debt-collection, and policy cancellation.

Reporting: According to the vendor, Cloud Insurance provides configurable reporting dashboards to track business performance, determines the best policy quotes and customer segments, generates insurance standard reports, and integrates with third-party systems for data analysis.

Purchase Journey: Cloud Insurance allows for the creation of seamless multi-device customer journeys, incorporates widespread payment and authentication providers, tracks customer acquisition channels, and offers personalized product discounts, as per the vendor.

My Account Portal: The vendor claims that Cloud Insurance provides customers with a self-serve portal to manage insurance, file claims, and access policy documents. It sends regular claim notifications, secures sensitive information, and integrates with apps and chatbots for a seamless customer experience.