The following vendor(s) were chosen
as their top choice(s) in Policy Management
Client and Policy Management (5 points)
Description: The ability to manage clients and their policies, including tracking renewals, endorsements, and customer interactions.
Considerations: Does the BMS provide an easy way to access and manage client profiles, policy histories, and policy changes?
Integration with Other Systems (5 points)
Description: How well the BMS integrates with other key systems like quoting/rating tools, carrier platforms, CRM systems, and accounting software.
Considerations: Does the system offer seamless integration with external systems like carriers and quoting platforms? Is there a strong
API for easy integration with other tools?
Automation of Routine Tasks (5 points)
Description: The ability to automate recurring tasks like policy renewals, invoicing, and generating reports.
Considerations: How well does the system automate key tasks? Can it automatically trigger renewals, reminders, and other routine workflows?
Pricing and Value for Money (5 points)
Description: The pricing model and the overall value offered by the BMS in relation to its features and functionality.
Considerations: Is the pricing transparent and reasonable based on the features offered? Does it provide good value for money in terms of scalability and
usability?
Reporting and Analytics (5 points)
Description: The system’s ability to generate comprehensive reports on policy insights, book trends, KPIs, and provide granular information on coverage,
policy details, and overall business performance.
Considerations: Does the system offer detailed reports with policy insights? Can it break down data into granular coverage details, trends in the book of
business, and track key performance indicators (KPIs)?
