MphasiS Wyde has released version 5.0 of its Wynsure end-to-end multiline insurance system, which the vendor says provides additional functionality to support group policies, an enhanced portal and an improved user interface and experience.
Calling Wynsure one of the few true multiline policy administration platforms, used by life, health and P&C insurers globally, MphasiS Wyde notes that it has been especially popular from group business. Version 5.0 now supports payroll deduction for group contracts and individual policies sold at the worksite, an Mphasis Wyde statement says. Wynsure v5.0 also supports guaranteed-issue products, personalized and standardized group benefit plans, and manages invoicing frequency, including providing a consolidated invoice for individual, group and worksite product types.
[Read about how P&C vendor experience makes sense for improved offerings in the group business space: Exigen Fills Gap in Group Benefits Core System Solutions Market.]
User experience improvements within Wynsure v5.0 include a dedicated CRM desktop that allows users to find client information, start transactions from the client summary and record customer contracts. The contract summary screen allows users to review endorsement details, including for endorsements in progress. MphasiS Wyde says that it has simplified accounting screens to show only financial transactions, which can be filtered by type. Version 5.0 also includes simplified and more user-friendly underwriting process review, according to the vendor.
Wynsure’s continued success in the group marketplace reflects both improvements in the system and the rapidly growing interest in core replacements by all type of group insurers, according to Chad Hersh, managing director of Novarica’s insurance practice. “Regulatory and competitive changes make a modern, flexible core system with a low total cost of ownership more critical than ever,” Hersh comments.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio