EbixAdvantage

EbixAdvantage is a comprehensive and fully integrated enterprise insurance administration system designed specifically for the Property and Casualty industry. According to the vendor, this solution caters to the needs of insurance carriers, agents, brokers, underwriters, and claims adjusters, providing them with advanced functionality for claims processing, policy administration, rating, quoting, and accounting. EbixAdvantage is aimed at businesses of all sizes within the insurance industry, offering a holistic approach to managing insurance operations efficiently and effectively.

Key Features

Screen/Process Level Security: According to the vendor, EbixAdvantage allows for the setup of user types and the definition of access levels for different user types. It enables the assignment of user types to designated users, effectively controlling access to the system.

Global Program Management: The vendor states that this feature facilitates insurance product management and provides flexible dialogue definition. It supports distribution channel management and offers comprehensive functionality for broker and contract management.

Client and Prospect Management: EbixAdvantage allows for the setup of new clients and provides robust contact management features to effectively manage client and prospect information, according to the vendor.

Accounting: The vendor claims that EbixAdvantage includes full general ledger and accounts payable functionality, ensuring seamless financial management throughout the policy, claims, and billing processes.

Multinational: According to the vendor, EbixAdvantage supports multicurrency and multilingual capabilities, making it suitable for insurance operations across different countries and regions.

Quote Management: The vendor claims that this feature enables the setup of submissions and the generation of quick quotes. It supports quote acceptance and underwriting support, including an automatic rating engine for accurate premium calculation.

Workflow Management: EbixAdvantage provides process-integrated workflow management, automating work assignment and tracking, according to the vendor. It offers an active task list and comprehensive audit trail for efficient task management.

Policy Administration: According to the vendor, this feature includes comprehensive functionality for policy issuance, policy reference, renewals, endorsements, cancellations, and reinstatements, ensuring streamlined policy management.

Claims Management: The vendor claims that EbixAdvantage enables efficient claims management by supporting claims adjuster setup and maintenance. It facilitates claim hierarchy maintenance, instant coverage maintenance, claim update and settlement, and financial processing.

Reinsurance: According to the vendor, this feature includes robust functionality for treaty definition, inward and outward reinsurance, retrocession, facultative/treaty placement, and proportional/non-proportional reinsurance. It supports reinsurance accounting with recovery tracking and offers multinational capabilities with multicurrency and multilingual support.