COREFIN Insurance, Brokerage &
Reinsurance
COREFIN Insurance, Brokerage & Reinsurance are vertical management solutions based on MS Azure and Microsoft Dynamics 365. Our solution empowers insurance companies, brokers, and reinsurers to comprehensively oversee their operations and obtain a holistic view of their customers. By merging adaptability and the platform’s expandability in a user-friendly and intuitive manner, COREFIN aids organizations, in the insurance and reinsurance industry, to structure their operations systematically and evaluate their performance effectively.
System modules and functionality
details
Product Management
• Define insurance products with ease – everything from covers, risk factors, tariffs, risks, risk groups and insured amounts, from products with predefined pricing to products with no fixed pricing
• Definition of limits of liability, excess per cover, multiple commissions for different product parameters, country specific taxes and many more
• Mathematical calculations of the reserves and insurance premiums based on relevant risk factors (integrated financial calculator)
• All of the above with NO need of IT involvement – you can fully utilize the COREFIN product configurator
Quote & Policy Issuance
• Issue an instant policy or quote, with only a few clicks, at any time, from any mobile device – via a self-service web portal or directly in the system
• Management of territories, teams, brokers, insurance products, discounts and more, for cross-sell and up-sell initiatives
• An integrated financial calculator helps you to define risk-adjusted premium payment plans, comissions, taxes, brokers’ target budgets and much more
• Easy quote to policy conversion process with predefined steps
• Easy document uploads and document management
• Comprehensive risk assessment & underwriting functionality
• Automated workflows with reminders to ensure consistency, timely action and optimal customer engagement
• Central repository for sales literature and product documentation
Policy Life Cycle Management
• Quick Quote-to-Policy conversion
• Track the status of your policies in your personal user account and receive automated notifications
• Flexible discounts and commissions management
• Powerful policy amendment engine: add/remove covers & risks, change insured amount, limits, etc.
• Full access to policy history and related documents
• Automated policy document generations, based on predefined templates
• Easy document uploads and association with quote/policy
• Extend, renew or cancel any policy with ease
• Comprehend the reasons for non-renewal and measure the success of renewal strategies
• Payment management – track upcoming payments, identify late payments
Claim Management
First Notice of Loss:
• Self-claim registration is available via our web portal or over the phone
• Detailed information gathering includes loss details, involved parties and properties, injury information, coverage verification, initial liability determination, and documents available for upload
Assignment & Scheduling:
• Claim activity management, progress tracking and task assignments
• Claim loss reserve management
• Assign the right resources to a specific claim based on skills, location and capacity
Investigation & Adjustment:
• Detailed item verification process
• Claim appraisal & assessment; preparation of related reports
• Integration with 3rd parties for on-site visits and assessment by insurance investigators, attach relevant documentation to the claim
• Remote access via mobile or/and smart devices
Settlement & Indemnification:
• Claim payment management & recovery
• Subrogation
• Catalogue of assets, spare parts and repair/service shops helps appraise the repair work on the spot of the reported incident
Reducing Claim Costs:
• Reduce claim settlement expenditures while decreasing time handling the claim
• Eliminate claim leakage and minimize attorney involvement
• Streamline processes with automated workflow
Reinsurance Management
• End-to-end management of reinsurance processes, with built-in automations and processes for premium and claims allocation and calculation
• Definition and management of various reinsurance contract types, including treaty and facultative
• Proportional and non-proportional: QuotaShare, Excess of loss, Surplus
• Easily and centrally record all related information: dates, policy holder/version, policy covers, amendments, renewals and cancellations
• Track all claim-related information and associated transactions: bordereaux for premiums, claims, commissions, etc.
• Automated generation of various accounting and bordereaux documents and reports
• Reinsurance payments and collection management
• Modular Based: Scale the platform according to your business needs!
• Extremely useful for multi-company organizations (support for multi-reinsurance programs, currencies, languages)
• Excellent built-in performance charts and dashboards
Client & Broker Portal
• Give your clients and brokers the flexibility to access information 24/7 and to be able to interact with you online – from their computer or mobile device
• Issue an instant quote or an insurance policy with just a few clicks
• Broker, Employee and End-user content specific interface – highly personalized interactive self service capabilities (predefined rules for the information and sections a user can access, modify or see)
• Use numerous product visualizations or offer different business lines for varying target groups
• Easy access to users’ and customers’ data, policy or claim history, policy status, new policies and related documents
• Minimizes the time required for transaction completion, thus boosting the ability to increase productivity and profit
• Better customer relationship management that increases customer satisfaction
Accounting and Financal Analysis
• Automated data transfer between D365 CE and Microsoft Business Central or any other ERP system
• Tools for Risk & Accounting Management
• Perfect for companies operating in more than one country – multi company & consolidation of financial data
• International scope – MS D365 supports multiple languages & currencies out-of-the-box
• Management of cash flow and intuitive forecasting for future payables/receivables
• Supervision of all monetary transactions
• Reserve Management
• Accounting & Billing Management
• Simple and intuitive interface
BI & Reporting
• Fully integrated with Microsoft Power BI for real-time business intelligent capabilities with AI and Copilot
• On-demand dashboards and reports with drill-down functionality on product, cover, region, broker, policy holder or policy level – track the KPIs of your entire business in a single location
• Make informed decisions based on real-time performance indicators
• Ability to modify existing dashboards or create new ones: easily accomplished with just a few clicks!
• Ability to export reports and charts in various formats: Excel, PDF, WORD
• Ability to schedule and send reports automatically to the responsible department/person/client with predefined workflows
• Ability to define and create regulatory reports in predefined templates and formats
• Reports for paid and expected premiums, unresolved and paid claims
• History reports and analysis by business lines and segments
• Define sales, agent targets and budgets, track productivity and analyze trends
• Ad hoc or customized analysis
• Easy to use on any smart device
Agent/Broker Structure and Commissions
• Brokerage network and agent commissions can be linked to specific products or regions
• Definition, calculation and payment of commissions for different periods, covers and schemes
• Definition of users and teams with specific roles across the network of branches & departments
• Broker network relationship management and reporting
• Agreement & Application Management
• Efficiently manage all insurer-broker relationships with CoreFin
Ready-made or customized?
All COREFIN solutions are cloud-based and built within the Microsoft Dynamics Ecosystem. Our team aligns with best practices, outlined by Microsoft, for extending and customizing the platform, which is confirmed by the fact that our solutions are listed on Microsoft AppSource – the marketplace for Microsoft partners.
Our family of products caters to a wide range of clients – including both SMEs and large corporations. We serve established businesses seeking to transition from Excel spreadsheets or replace existing software systems. Additionally, we offer our expertise to start-ups that lack IT knowledge, providing them with an innovative technology partner to handle all of their IT needs.
We follow Best Practices
Our team of certified professionals follows the latest technology trends and best practices. We have a strong focus on Agile methodologies for project implementation, which means that we provide our clients with a working prototype at an early stage in the process. This approach encourages client involvement and feedback straight from the beginning, reducing risk and minimizing the chances of obsolete requirements.
We also align the specifics of each client, having expertise in different project management platforms (Jira, DevOps, etc.) or working jointly on the development side.
One platform to cover all of your needs
Our vertical solutions are developed within the Microsoft family of business applications using Microsoft Azure Cloud. The platform itself evolves constantly, introducing new features, according to the latest tech trends each year. Microsoft Dynamics and Azure Cloud offer a powerful combination of flexibility, scalability, security and integration, making them valuable software platforms for businesses of all sizes and industries.
By subscribing to Azure, clients are granted access to numerous preconfigured cloud resources. Our team is happy to guide you in the Azure world in order to take the best advantage of it!
From the first call to closing a deal!
Request a demo and our team will set up an intro call to discuss your business needs in more details.
We will walk you through our ready-made solutions and will define the areas of interest for your business.
In a follow-up demo we will set up a use case of yours in the system and create a proof of concept.
Based on the exchanged information, we define the project scope and prepare a proposal.
COREFIN is Transforming the business with the power of technology and innovation.
Unique combination of Out-of-the-box industry solutions and tailored approach
We offer our clients a mix of ready-made modules, developed using industry knowledge and feedback, as well as bespoke consulting. We partner with Microsoft Azure Cloud, use proven implementation methodologies and have experts in business matter and tech. Thus, we have the advantage to deliver projects in short timeframes with less risk, top-notch security and a proven track record of know-how and innovation.
Ready-made or customized?
All COREFIN solutions are cloud-based and built within the Microsoft Dynamics Ecosystem. Our team aligns with best practices, outlined by Microsoft, for extending and customizing the platform, which is confirmed by the fact that our solutions are listed on Microsoft AppSource – the marketplace for Microsoft partners.
Our family of products caters to a wide range of clients – including both SMEs and large corporations. We serve established businesses seeking to transition from Excel spreadsheets or replace existing software systems. Additionally, we offer our expertise to start-ups that lack IT knowledge, providing them with an innovative technology partner to handle all of their IT needs.
We follow Best Practices
Our team of certified professionals follows the latest technology trends and best practices. We have a strong focus on Agile methodologies for project implementation, which means that we provide our clients with a working prototype at an early stage in the process. This approach encourages client involvement and feedback straight from the beginning, reducing risk and minimizing the chances of obsolete requirements.
We also align the specifics of each client, having expertise in different project management platforms (Jira, DevOps, etc.) or working jointly on the development side.
One platform to cover all of your needs
Our vertical solutions are developed within the Microsoft family of business applications using Microsoft Azure Cloud. The platform itself evolves constantly, introducing new features, according to the latest tech trends each year. Microsoft Dynamics and Azure Cloud offer a powerful combination of flexibility, scalability, security and integration, making them valuable software platforms for businesses of all sizes and industries.
By subscribing to Azure, clients are granted access to numerous preconfigured cloud resources. Our team is happy to guide you in the Azure world in order to take the best advantage of it!
We are your trusted Microsoft partner
We work closely with our clients to make sure we deliver the desired results. We work with established business processes and translate them into cloud digital solutions or start from scratch and deliver a concept to fully reengineer and optimize the existing business model.
We offer a wide range of ready modular solutions, as well as broad expertise in building tailored solutions. Whatever you need in order to see your business grow – we have it!
COREFIN Insurance is a robust and comprehensive solution for the insurance industry, leveraging the cutting-edge technology and cloud infrastructure of Microsoft Azure. The platform is designed to enhance and streamline all aspects of your specific business processes. This includes complex product and cover definitions, collaboration with brokers, business line specific end-to-end and quote-to-policy lifecycles, claims handling, reinsurance contract management, as well as payments management. COREFIN aims to accommodate your business specific requirements into our software in order to best reflect the uniqueness of your business. Leveraging Microsoft Azure’s cloud infrastructure enhances the platform’s security and scalability. Operating in a cloud-based environment ensures data security, accessibility, and allows for increased flexibility, crucial in the collaborative and dynamic landscape of the insurance industry. COREFIN Insurance offers business intelligence tools and management reports, providing insurers with valuable insights into their operations.
COREFIN Insurance offers a robust solution, tailored for brokers and managing general agents (MGAs), that provides automation across various business processes, thus enhancing operational efficiency and reducing manual efforts. Operating in a cloud-based environment allows for flexibility and collaboration across multiple channels for brokers, MGAs, carriers, end-clients, and all stakeholders. COREFIN Insurance provides the right tools to define complex insurance products and covers for various business lines. The quote to policy module solves all the complexity around handling adjustments, renewals, and cancellations, thus streamlining the entire lifecycle of insurance policies. Efficient claims handling is crucial for brokers and MGAs in order to provide quality service to their clients. COREFIN Insurance supports effective claims management, including processes related to reserves, reporting, settlements, and bordereaux. For more detailed information, please explore the insurance modules.
COREFIN Reinsurance empowers reinsurers to innovate their entire array of business operations and to foster collaboration with carriers, brokers, retro reinsurers, and external entities through a unified, multi-channel, cloud-based system. Our solution operates on a unified platform that leverages the cutting edge technology of the Microsoft Azure technology stack. This allows reinsurers to access and manage their operations from multiple channels, providing flexibility and accessibility. The system supports the establishment of reinsurance contracts of all types, along with their specific terms. The system automates various calculations, such as ceded premiums, commissions, brokerage, taxes, claim limits, excess, claim recoveries, and payments, in accordance with active reinsurance contracts. This guarantees no space for human errors, as well as increased efficiency and ease in managing your business processes.
For a more detailed overview, please refer to the insurance modules.
Our Packages
Basic Plan
This package is tailored for SMB brokers and insurers, who offer various schemes, and want to have a single powerful platform to manage all related calculations and colloborations with third parties.
$800/ Monthly
Product Management
Pricing Engine
Quote & Policy Issuance
Policy Life Cycle Management
Claim Management
Client & Broker Portal
BI & Reporting
Enterpise Plan
This package is built specially for enterprise businesses – Insurer, MGA brokers and underwriting companies, allowing for the efficient management of complex products, direct busness lines and their network of sales.
Upon Request
Product Management
Pricing Egnine
Quote & Policy Issuance
Policy Life Cycle Management
Claim Management
Payment and Allocations
Agent/Broker Structure and Commissions
Client & Broker Portal
Accounting and Financal Analysis
BI & Reporting
Advance Plan
This package is specially built for enterprise businesses – Insurers, Reinsurers and Underwriting companies. It goes beyond the Enterpise package by offering reinsurance and bordereaux management.
Upon Request
Reinsurance management
Bordereaux import/export
Payment and allocations
Product Management
Pricing Egnine
Policy Life Cycle Management
Claim Management
Agent/Broker Structure and Commissions
Client & Broker Portal
Accounting and Financal Analysis
BI & Reporting
Make the first step now
+44 20 3815 8020
Kemp House 152 - 160 City Road, London EC1V 2NX, United Kingdom
contact@core-fin.com
Mon-Fri 8:00 - 16:00
