Top 7 Insurance Software Companies

As the insurance industry is rapidly shunning analogue ways of working, companies are turning to sophisticated software solutions to streamline their operations, enhance customer experiences, and mitigate risks efficiently. From policy management to claims processing, the realm of insurance software offers a diverse array of tools tailored to meet the industry’s unique needs. 

1. Optalitix

Experience the power of underwriting systems engineered for speed and scalability with Optalitix. Their cutting-edge model hosting platform empowers clients to swiftly host pricing and AI models within core systems, boasting seamless integration, version updates, and monitoring capabilities. 

Organisations can elevate pricing system efficiency with their underwriting workbench, equipped with the latest actuarial pricing models, tools, and data, ensuring your insurance business remains future-proof. Designed for lightning-fast performance, their systems are built to scale, facilitating rapid growth and streamlined underwriting processes. 

Optalitix stands out for its expertise in delivering data-driven insights across commercial, personal, and life insurance domains, deploying robust risk management, pricing, and underwriting systems with ease. Their dedicated team collaborates closely with clients to ensure easy integration into core insurance systems, accelerating time-to-market and driving increased profitability. 

Businesses will witness tangible results as countless insurers, including Lloyd’s of London, have experienced significant time savings and enhanced efficiency through their partnership with Optalitix.

2. ePayPolicy

ePayPolicy serves as a specialised payment processing tool tailored for the insurance industry, aiding businesses in collecting both credit card and ACH payments from policyholders. Through its centralised dashboard, administrators gain the ability to monitor transactions, access digital receipts, regulate user access, and monitor transaction statuses in real-time.

With ePayPolicy, organisations can personalise their payment page with a custom logo and colours to align with their brand identity. Additionally, clients can conveniently upload documents via this payment portal and establish recurring payment schedules. For managing general agents (MGAs), batch processing functionality streamlines the distribution of electronic commissions and refund checks to agents and partners.

Moreover, ePayPolicy extends its utility through an API, facilitating seamless integration with various third-party platforms such as FinancePro, Veruna, Jetfile, Novidea, QQCatalyst, Sagitta, and more.

3. NextAgency

NextAgency stands out as the premier Insurance Agency Management Platform nationwide, offering a suite of tools encompassing CRM, marketing, and commission tracking functionalities. While initially tailored for life and health agencies, the software boasts adaptability, allowing easy customisation to suit any agency’s needs.

With NextAgency’s CRM tools, agencies can consolidate all prospect and client information into a single, easily accessible repository, ensuring quick access whenever and wherever it’s needed.

In terms of marketing, the platform provides support for various strategies including drip marketing campaigns, bulk newsletters and emails, and seamless lead capture from agency websites.

For commission tracking, NextAgency simplifies the process of uploading commission statements, even those available solely in PDF format, and efficiently allocates them to carriers, clients, and sub-agents. Users can meticulously monitor commissions, overrides, bonuses, and fees, and generate comprehensive reports, including sub-agent commission statements, through the platform’s user-friendly built-in reporting system.

4. Jenesis

Jenesis presents a cloud-based platform tailored to aid insurance agents in efficiently handling personal and commercial lines while expanding their customer base. Its robust features encompass claims management, a rating engine, policy processing, and tracking reinstatements. 

Crafted specifically for independent insurance agencies, Jenesis boasts an extensive Association for Cooperative Operations Research and Development (ACORD) library, offering both pre-filled and customisable PDF forms. Its intuitive drag-and-drop interface facilitates seamless creation, editing, and importation of image attachments from client profiles, enhancing team collaboration. 

Moreover, the solution streamlines accounting tasks and facilitates customer remittance management through automation. Jenesis fosters connectivity with third-party applications like QuickBooks and J-Books, ensuring seamless integration. Accessible through a convenient monthly subscription model, Jenesis provides comprehensive support via documentation, phone, email, and online resources for users’ convenience.

5. NowCerts

NowCerts stands out as a versatile cloud-based insurance solution catering to agencies of all sizes. Its comprehensive features encompass commission tracking, task management, claims handling, robust reporting tools, self-service certificates, reminders, calendars, dashboards, and e-signature capabilities. 

Users benefit from the ability to create projects, allocate tasks, and monitor progress seamlessly. Offering Acord forms in multiple formats for editing, signing, emailing, faxing, and saving, NowCerts ensures flexibility in document handling. The platform facilitates invoicing, payment processing, and receipt issuance, while automated reminders streamline renewal date management. 

Users can effortlessly monitor agency and agent commissions, along with agency and carrier fees, while also generating their own certificates. With seamless integration with popular applications including Google Drive, Gmail, QuickBooks, SignNow, Zapier, and Twilio, NowCerts enhances workflow efficiency.

Pricing is structured on a per-month, per-agency subscription basis, with robust support accessible through online helpdesk, email, live chat, and phone channels.

6.  FileTrac Evolve

FileTrac Evolve represents an advanced claims management software tailored for independent adjusters and insurance companies, catering to a spectrum of organisations from small firms to large enterprises. 

Engineered to mitigate human errors and streamline operations, it aims to curtail claim expenses and expedite cycle times effectively. This sophisticated solution amalgamates a comprehensive suite of claims management and productivity tools within a smart cloud-based application. 

Leveraging state-of-the-art technologies such as artificial intelligence (AI), business intelligence (BI), and robotic process automation (RPA), FileTrac Evolve is poised to revolutionise the claims handling process, ensuring optimal efficiency and accuracy.

7. InsureCert

InsureCert is a cloud-based insurance solution that enables agents and brokers to organise policy-related data and share information with consumers. Key features include sales management, distribution network monitoring and marketing management.

InsureCert helps insurance agents set targets for brokers or channel partners and reward them with bonuses once they achieve their gross written premium targets. The solution offers a dashboard, which displays a summarised view of visitors, orders, total policies in force and other data to track business performance in real-time.

InsureCert’s insurance wallet feature enables customers to self-manage certificates, make claims and buy coverage using the mobile application. The solution also provides buy-now functionality where customers can request custom quotes and chat with agents from their mobile devices.

InsureCert includes robo-advisors, which helps manage sales processes. The solution also provides built-in API for insurers to design underwriting rules for internal stakeholders.