Name: ParaCode
Author: ParaCode

Help Desk

Kiosk

Web and Video Conferencing

Customer Support

Flowchart

Text Editors

Version Control

Development

Student Management

Education

Business Intelligence (BI)

Collaboration

Digital Rights Management (DRM)

IP PBX

Meeting Management

Online Notary

Enterprise

Accounting

Blockchain Payments

Cryptocurrency Wallets

Travel Management

Finance and Accounting

ACA Compliance

Applicant Tracking

Corporate Learning Management

HR Management

Payroll

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

AI Governance

Change Management

Cloud Storage

Converged Network Adapters (CNAs)

Data Deduplication

Data Science

Email Verification

Firewall Security Management

Fraud Detection

Identity Verification

Integration Platform as a Service (iPaaS)

Mainframe Monitoring

Migration

Network Performance Monitoring

Network Traffic Analysis (NTA)

Output Management

Robotic Process Automation (RPA)

SaaS Management

System Monitoring

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Channel Management

Content Management

Data Cleansing

Digital Experience Intelligence

Email Marketing

Headless CMS

Marketing Automation

Screen and Video Capture

Social Media Management

Survey & Forms Building

Web Analytics

Marketing

Job Site Management

Project Management

Waste Management

Writing and Proofreading Tools

Professional Services

Customer Relationship Management (CRM)

Field Sales Software

Headless eCommerce

Sales

Operational Technology (OT) Security

Security

Aviation

Camp Management

Computer-Aided Manufacturing (CAM)

Construction Workforce Management

Last Mile Delivery

Nonprofit CRM

eDiscovery

Vertical-Specific

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ParaCode is a cloud-based insurance policy administration and claims management system designed to simplify and streamline insurance processes for insurers, brokers, and MGAs (Managing General Agents). This platform enables users to efficiently build and manage insurance products without the need for coding. According to the vendor, ParaCode caters to companies of all sizes, from small MGAs and brokers to large insurers. Insurance professionals, brokers, MGAs, insurers, and claims handlers across various industries use ParaCode to enhance their policy administration and claims management capabilities.

## Key Features

**Policy management**: ParaCode offers a complete cycle policy management solution, allowing users to efficiently handle all aspects of policy administration, from quote to bind, MTA, cancellation, renewal, and reinstatement. According to the vendor, this streamlines processes and reduces administrative costs.

**Underwriting management**: With ParaCode, users can effectively manage risks using either a high touch or data-driven approach. The platform enables setting referral and decline criteria to write only desired risks, providing flexibility and customization in underwriting processes, according to the vendor.

**Claims management**: ParaCode facilitates full cycle claims management, from FNOL (First Notice of Loss) to assessment, loss adjustment, and claims payment. According to the vendor, this streamlines claims processes, reducing time and improving efficiency. The platform also centralizes claims-related documentation for easy access and retrieval.

**Product builder**: According to the vendor, ParaCode's product builder empowers users to create insurance products tailored to their specific needs. It features an innovative rating engine, form builder, and document generator, allowing for customizable and flexible product creation without any coding.

**Omni-channel distribution**: ParaCode enables direct distribution of insurance products to clients or via brokers, introducers, or affiliates. It provides customer portals, broker portals, introducer portals, and APIs for easy distribution. Additionally, it supports price comparison and cross-selling functionalities, according to the vendor.

**Marketplace**: ParaCode boasts a unique marketplace where insurers, MGAs, and brokers can publish, find, and transact any product. According to the vendor, it provides access to every FCA-registered insurance business in the UK, facilitating quick and easy product discovery and distribution.

**Reporting**: The platform offers comprehensive reporting functionality, allowing users to track performance metrics. Users can build and run reports using generic reporting or custom build with data warehouse and reporting tools, ensuring real-time data for informed decision-making, according to the vendor.

**Dashboards**: ParaCode provides customizable dashboards that offer real-time data and insights. Users can monitor key performance indicators at a glance, enhancing visibility and data visualization for better decision-making, according to the vendor.

**Accounting**: ParaCode includes inbuilt accounting functionality to manage insurance accounting needs, debtors, creditors, and bank account balances. According to the vendor, this streamlines financial processes and allows users to track and manage financial aspects within the platform.

**Automation and Workflow management**: ParaCode enables users to create automated workflows that streamline processes and increase efficiency. It offers features like task assignment, notifications, and reminders to ensure timely completion. According to the vendor, the workflows are customizable to match specific business processes.

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Insurance policy administration systems are software designed to help insurance agencies manage policies through their entire lifecycle. Insurance agencies use them to simplify and automate the policy maintenance process. This simplification continues from initial quote to final termination.

Insurance Policy Administration Systems

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ParaCode

Overview

What is ParaCode?