Why Practo Insura for Policy Administration
In the ever-evolving insurance industry, your policy administration software must be as dynamic and adaptable as your business. Practo Insura delivers not just software, but a robust, user-friendly solution designed with insurers and policyholders in mind. Here's why Practo Insura stands out
Policy Lifecycle Management
Managing an insurance policy can be complex, involving several stages like quoting, issuance, endorsements, renewals, and cancellations. These tasks often take time and can lead to mistakes when done manually. Practo Insura simplifies this process with its Policy Lifecycle Management solution, automating key tasks to lighten your workload and enhance accuracy. With Practo Insura, you can focus more on your clients and less on administrative hassles, making your job easier and your service more efficient.
- Automate repetitive tasks like issuing policy documents and renewal notices, freeing your team for strategic activities.
- Handle complex endorsements, such as policy amendments or rider additions, without disrupting existing coverage or service.
- Maintain detailed audit trails for every policy action to ensure compliance with regulatory standards.
Beyond the Basics
Practo Insura offers more than just standard features, providing innovative solutions that make a real difference and help you stay ahead in today’s fast-paced insurance landscape.
Rapid Rater Algorithm
Why wait 2 months to update insurance rates? With Practo Insura, new rates can be implemented & made live in just 7 days. Our advanced rater system ensures swift and accurate updates including premium, fees & coverage factors, keeping you ahead of the competition and dynamic to market changes.
Policy Data Migration
Worried about switching to a new system? We’ve got you covered. Our data migration feature ensures you can pick up exactly where you left off without waiting 6 months on old system. If you’ve got a properly structured policy dataset, you can instantly switch your system with Practo Insura, so there’s no interruption to your operations.
Custom E-Sign Tool
Say goodbye to paper-heavy processes! Our built-in e-signature tool is designed to make policy agreements hassle-free and secure. Whether you're finalizing new policies or updating existing ones, our tool saves you time and simplifies workflows.
Motor Vehicle Record (MVR) Detection
We know how critical it is to stay informed about potential risks. With our advanced fraud detection tools, you can monitor policyholders’ histories in real time. Get automated email alerts for violations, suspensions, DUIs, and more to help you stay ahead in managing risks effectively.
99.99% SLA (Service Level Agreement)
We take reliability seriously. With a 99.99% uptime guarantee, you can trust that Practo Insura will always be there when you need it-minimizing downtime and maximizing productivity.
Advance Security
Practo Insura prioritizes data security through advanced encryption, token-based authentication, and strict adherence to HIPAA and PCI standards. With these measures, you can confidently manage your policies, knowing your sensitive information is securely protected.
What Our Clients Say
Ready to experience our products live?
Request a live demo by calling +1 (833) 281-2514 or fill out the contact form using the below link.
Connect With Practo Insura“Practo Insura has streamlined our policy management and helped us deliver better service to our insurers.”
John Crispi
Founder, CoverCube