ERP in insurance: features, tools, value & services
June 20, 2023
- Case studies
10+ years in ERP services
50+ completed projects of different scales across various industries
Hands-on expertise in delivering custom, platform-based, and hybrid ERP solutions
An Odoo Silver Partner
A NetSuite Solution Provider
Looking for a trustworthy partner for an ERP project?
Insurance ERP key capabilities
An insurance ERP system is an integrated solution. Itransition’s team defines the number and types of functional modules depending on the company’s business specifics and goals.
- Electronic claims submission
- First notification of loss (FNOL) management
- Automated claims verification, assessment and assignment
- Claims status tracking
- Claims reporting
- Analytics capabilities to identify fraudulent claims
- Alerting and notifications
Key integrations of insurance ERP systems
Itransition can connect ERP software with other corporate applications to increase the value of your ERP system. Integrations will help to facilitate seamless data flow across business departments, achieve data consistency, and automate business processes.
We combine all customer-related data collected and stored within the CRM software with the operational data from ERP:
- Optimize marketing and sales efforts
- Increase brand awareness and retention
Business communication solutions
We enable secure two-way communication and smooth collaboration between departments, employees, and policyholders:
- Set notifications and alerting in case of disruptions
- Streamline activity planning and scheduling
Financial and accounting software
We unify all financial transactions into a central hub and gain end-to-end visibility into all financial processes:
- Forecast costs and potential revenue
- Design budgets accordingly
We ensure your customers get quick access to their accounts to learn relevant information on current products and services:
- Check claims resolution status
- Manage invoices and statements
We help employees get a consolidated view of the overall performance of the organization:
- Perform an advanced risk assessment and detect fraudulent claims
- Predict customer behavior and devise efficient strategies
Need help with choosing the optimal ERP software for your needs?
Insurance ERP services we offer
This is the scope of our advisory services for insurance companies that want to implement or optimize the existing ERP solution:
- Analysis of business needs and technology environment
- ERP strategy creation and roadmapping
- ERP solution architecture design
- ERP implementation support
- ERP software selection
Insurance ERP FAQs
How to select the best-fitting ERP option for insurance?
What are insurance ERP implementation risks?
What is the cost of ERP implementation?
Tenancy management software
Find out how Itransition developed a tenancy deposit replacement application for Hamilton Fraser, a UK insurance provider.
ERP integration: types, approaches, key steps & services
We guide you through the ERP integration process by outlining integration types and common approaches, challenges, benefits, and project steps and timeline.