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SurePower Innovation Policy Administration from SIS Group
Modern, modular, and highly configurable policy administration system supporting quoting, policy issuance, endorsements, renewals, and integrations with major digital channels.
Product analysis by function
Policy Administration Systems for Policy Administration
Core platforms that manage the entire policy lifecycle from quotation through issuance, endorsements, renewals, and termination. These systems maintain policy records and support various insurance products.
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Policy Lifecycle Management
(8 Yes /8 Known /14 Possible features)
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Quotation Generation Ability to create, store, and manage quotes for potential customers. |
Product is described as supporting quoting and creation of quotes for customers. | |
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Policy Issuance Automated process for issuing new insurance policies. |
Listed as supporting policy issuance on the vendor's website. | |
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Endorsement Processing Management and processing of in-term changes (endorsements) to existing policies. |
Notes claim support for endorsements as a core function of the platform. | |
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Renewal Management Automatically generate and manage renewals for expiring policies. |
Renewals are mentioned as supported lifecycle operations. | |
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Policy Cancellation Handle full or partial cancellations, including calculations of refunds and adjustments. |
No information available | |
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Reinstatement Handling Process reinstatements for cancelled policies according to business rules. |
No information available | |
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Policy Archiving Archiving inactive/cancelled policies for long-term storage and compliance. |
No information available | |
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Automated Workflow Configurable, automated workflows that move policies through their lifecycle stages. |
Described as providing highly configurable automated workflows. | |
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Policy Number Generation Automatic assignment of unique policy numbers. |
Policy number assignment is a basic feature of modern policy admin systems and is implied. | |
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Multi-Product Support Support for multiple insurance product lines within the same platform. |
Platform supports multiple lines of business (multi-product). | |
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Batch Processing Capability Ability to process high volumes of policy transactions in batch mode. |
No information available | |
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Turnaround Time Average time to complete policy-related processes such as issuance or endorsement. |
No information available | |
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Version Control Maintain multiple versions/histories of a policy for audit and reference purposes. |
No information available | |
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Customizable Policy Lifecycle Rules Enables configuration of different business rules for policy processing. |
Highly configurable; vendor highlights rule-based configuration. |
Data Management & Integration
(8 Yes /8 Known /13 Possible features)
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Centralized Policy Repository Single source of truth for all policy data, reducing duplication and inconsistency. |
Modern systems cited as providing a single data source for policies. | |
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Customer Data Management Comprehensive management of customers, contacts, and related data. |
Customer data management is a key component of the system. | |
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Document Management Storage, indexing, and retrieval of policy-related documents. |
Document management typically included in modern PAS; detailed document history is industry standard. | |
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APIs for Integration Robust API framework to integrate with third-party and internal systems (CRM, billing, claims, etc.). |
Vendor claims extensive integrations and open APIs. | |
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Real-Time Data Exchange Facilitate instant data synchronization with other systems. |
Modern modular systems typically offer real-time data exchange. | |
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Data Import/Export Tools Support for bulk import/export of data to ease migration or reporting. |
No information available | |
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Data Validation Automated verification and validation of entered data to ensure quality. |
No information available | |
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Duplicate Detection Detection and handling of duplicate records for data integrity. |
No information available | |
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Data Encryption Encryption of policy and customer data at rest and in transit. |
Modern PAS platforms are expected to encrypt sensitive data. | |
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Audit Trails Detailed logs of all data changes for compliance and review. |
Audit trails are industry standard especially for compliance needs. | |
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Maximum Simultaneous Users Number of concurrent users the system supports without performance degradation. |
No information available | |
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Backup Frequency Frequency of automated backups to safeguard data. |
No information available | |
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Search Capabilities Advanced and flexible searching and filtering of stored data. |
Advanced search and filtering is a core PAS capability. |
User Interface & Usability
(3 Yes /3 Known /12 Possible features)
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Intuitive Dashboard User-friendly dashboard showing policy statuses, tasks, and alerts. |
Described as having user-friendly dashboards. | |
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Customizable Views Ability for users to configure their own workspaces and data views. |
No information available | |
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Role-Based Access Control Permissions and system views tailored to different user types. |
Mentioned support for permissioning and security implies role-based access. | |
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Mobile Accessibility System accessible and usable on mobile devices. |
Claims of digital channel support generally implies mobile accessibility. | |
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Multi-Language Support Support for multiple languages in user interfaces. |
No information available | |
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Accessibility Compliance Compliance with accessibility standards (e.g., WCAG 2.1). |
No information available | |
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Notification Center Central location for alerts, reminders, and policy notifications. |
No information available | |
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Self-Service Portal Portal for customers or agents to view and update policies. |
No information available | |
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Inline Help & Guidance Contextual help and tooltips throughout the application. |
No information available | |
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Average Page Load Time Speed of loading user interface pages. |
No information available | |
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Drag-and-Drop Customization Allows users to configure layouts easily using drag-and-drop. |
No information available | |
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Bulk Actions Ability to perform actions on multiple records or policies at once. |
No information available |
Product & Rate Configuration
(3 Yes /3 Known /11 Possible features)
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Product Definition Tools Easy creation and configuration of insurance products and coverage options. |
Described as highly configurable, with easy product setup. | |
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Rules Engine Configurable business rules for underwriting, eligibility, and pricing. |
Rules engine/configuration implied as core attribute. | |
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Rating Engine Integration Integration with or inclusion of a rating calculator, using complex formulas. |
No information available | |
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Versioned Product Catalog Maintain different versions of products/rates for audit and transition. |
No information available | |
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Effective Date Management Support for future-dated changes and backdating of products/rates. |
No information available | |
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Automated Testing of Rules Ability to test rules and calculations before deployment. |
No information available | |
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Multi-Product Bundling Support for selling bundled packages of products. |
Product catalog and bundling are listed capabilities. | |
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Bulk Update Tools Capabilities for mass updating products or rates. |
No information available | |
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Approval Workflow on Changes Workflow to manage approvals for new or changed products/rates. |
No information available | |
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Number of Supported Products Maximum number of distinct products easily supported. |
No information available | |
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Rating Calculation Speed Average time for the system to complete a rating calculation. |
No information available |
Billing & Payments
(4 Yes /4 Known /11 Possible features)
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Flexible Billing Schedules Ability to set up custom billing frequencies (monthly, quarterly, etc.). |
No information available | |
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Automated Invoicing Issuance of invoices automatically according to policy and billing rules. |
Automated invoicing or billing cycle is typically standard and implied. | |
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Multi-Channel Payment Processing Acceptance and processing of payments through various channels (ACH, credit card, checks, etc.). |
Described as supporting digital channels and integration with payment solutions. | |
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Integrated Payment Gateway Integration with payment gateway providers for secure payment handling. |
Payment gateway support is typically included in such integrations. | |
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Payment Reconciliation Tools to reconcile, match, and clear payments and outstanding balances. |
No information available | |
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Automated Reminders & Notices Auto-communication for payment due dates, past-due reminders, etc. |
Notifications and reminders are standard, and digital communication is implied. | |
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Partial Payment Handling Support for partial or overpayments and adjustments to account balances. |
No information available | |
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Non-Payment Handling Automated processes for policy suspension or cancellation due to non-payment. |
No information available | |
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Integration with General Ledger Link policy billing records to financial and accounting systems. |
No information available | |
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Transaction Volume Capacity Maximum number of billing/payment transactions system can process per hour. |
No information available | |
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Refund Processing Time Average time to process policyholder refunds. |
No information available |
Claims Integration & Support
(0 Yes /0 Known /8 Possible features)
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Claims Data Exchange Bi-directional integration and real-time data sharing with claims systems. |
No information available | |
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Claims History Access Ability to view claims data within the policy admin system. |
No information available | |
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Claim Notification Triggers System-generated triggers and notifications upon claims submission or updates. |
No information available | |
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Claims Reserve Management Ability to track and update claims reserves within policy system. |
No information available | |
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Cross-Referencing Policies and Claims Cross-linking of claim records to related policies for holistic view. |
No information available | |
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Automated FNOL (First Notice of Loss) Automatic initiation of claims process from within the policy system. |
No information available | |
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Number of Supported Claims per Policy Maximum number of claims records linked to a single policy. |
No information available | |
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Claims Data Sync Latency Time taken to synchronize data between policy admin and claims systems. |
No information available |
Compliance & Regulatory Support
(2 Yes /2 Known /8 Possible features)
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Regulatory Forms Automation Generation and maintenance of regulatory forms and disclosures. |
No information available | |
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Compliance Rule Engine Business rules configured to align with local, regional, or global compliance mandates. |
Regulatory compliance is a key selling point for such vendors. | |
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Audit Logging End-to-end auditing of system activities for regulatory compliance. |
Audit logging is an industry standard and regulatory requirement. | |
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Legal Hold Management Capability to place policies or records on legal hold during investigations or litigation. |
No information available | |
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Change Management Tracking Tracking of all changes to configuration, product offerings, and rates. |
No information available | |
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Compliance Reporting Automated generation of required regulatory reports. |
No information available | |
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Time to Generate Regulatory Reports Average processing time for producing compliance reports. |
No information available | |
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Jurisdiction Support Number of regulatory jurisdictions/markets system supports. |
No information available |
Security & Authentication
(4 Yes /4 Known /8 Possible features)
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Multi-Factor Authentication Support for additional authentication steps for enhanced security. |
Modern PAS vendors highlight security & multi-factor authentication as capabilities. | |
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Single Sign-On (SSO) Integration with identity providers for SSO capability. |
SSO is standard feature in enterprise and cloud platforms. | |
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Role-Based Security Permission management based on user roles and responsibilities. |
Permissioning and roles management is noted and expected. | |
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User Activity Monitoring Tracks, analyzes, and reports on user activity within the system. |
No information available | |
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Data Encryption Data encryption for information at rest and in transit. |
Encryption at rest and in transit is referenced on vendor security pages. | |
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Password Policy Enforcement Enforces strong password requirements and rotation policies. |
No information available | |
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Intrusion Detection Integration Capability to integrate with security systems for threat detection. |
No information available | |
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Number of Security Events Logged per Day Volume of logged security events/capacity for audits. |
No information available |
Reporting & Analytics
(6 Yes /6 Known /9 Possible features)
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Standard Report Library Built-in reports on policies, premiums, renewals, and more. |
Standard out-of-the-box reports are expected and typically highlighted. | |
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Custom Report Creation Users can create custom reports tailored to specific needs. |
Custom reports/analytics are mentioned in product literature. | |
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Dashboard Analytics Interactive dashboards with visual summaries of key metrics. |
Interactive dashboards/analytics listed in features. | |
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Real-Time Reporting Generate reports on live transactional data. |
Modern architecture and real-time data listed; real time reporting is expected. | |
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Export to Multiple Formats Ability to export reports in Excel, PDF, CSV, and other formats. |
Vendor material references report export to multiple formats. | |
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Scheduled Reporting Ability to schedule automated report generation and delivery. |
No information available | |
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Integration with BI Tools Connect to external BI and analytics platforms. |
No information available | |
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Data Visualization Tools Charts, graphs, and heatmaps available natively within the system. |
Vendor describes use of internal analytics and charts (data visualization). | |
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Data Query Performance Average response time for large data queries. |
No information available |
Scalability & Performance
(4 Yes /4 Known /9 Possible features)
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Elastic Scalability System can scale resources up or down automatically based on usage. |
System architecture is described as elastic and auto-scaling (cloud-native). | |
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Cloud-Native Support Designed for cloud deployment and auto-scaling. |
Native cloud deployment and scalability repeatedly mentioned. | |
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Performance Monitoring Tools Real-time tracking of system performance metrics. |
Product is described as offering performance monitoring for clients. | |
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Disaster Recovery Capabilities Processes and technologies to ensure recovery from outages or failures. |
Disaster recovery, failover, and high availability referenced in cloud product literature. | |
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API Throughput Capacity Number of API calls the system can reliably handle per second. |
No information available | |
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Maximum Policy Volume Maximum number of active policies system can support. |
No information available | |
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Transaction Processing Speed Average time to process typical transactions (e.g., new policy issuance). |
No information available | |
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Average System Uptime Percentage of time the system is available and operational. |
No information available | |
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Geo-Redundancy Support for distributed deployments across multiple data zones or countries. |
No information available |
Ecosystem & Partner Integration
(5 Yes /5 Known /8 Possible features)
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Agent/Broker Portal Integration Connects seamlessly to agent or broker platforms for submissions and servicing. |
Agent and broker integration highlighted in digital transformation features. | |
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Third-Party Data Feeds Supports integration of data from credit bureaus, risk assessors, or other vendors. |
Third party/vendor integration is emphasized (feeds from external data sources). | |
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Reinsurance Integration Automates ceded, assumed, and facultative reinsurance functions. |
No information available | |
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Partner API Marketplace Availability of pre-built APIs for a variety of ecosystem participants. |
Marketplace and extensible APIs for partners/integrators are promoted features. | |
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E-signature Integration Integrated support for digital signatures and e-documents. |
Support for e-signature integrations is typical; this is standard. | |
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Customer Communication Tools Automated email, SMS, and document delivery to customers and partners. |
Email, SMS, document delivery automation are promoted for digital channel engagement. | |
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Number of Available Integrations Count of pre-built integrations with external systems or providers. |
No information available | |
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Onboarding Time for New Partners Average time to set up a new partner or third-party integration. |
No information available |
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