What Is an Insurance Core System? An insurance core system is the central platform that manages insurance policy administration tasks, like rating, underwriting, policy issuance, billing, claims, and reporting.
ISi delivers all these programs in a modular, highly configurable architecture designed specifically for small P&C insurers and MGAs.
To outpace larger property and casualty insurers, smaller insurers need a highly customizable insurance core system that does what they want, when they want it, all with minimal manual effort and low/no coding.
The way a client wants to do business should dictate how software runs, not the other way around. Most SaaS software solutions are not as customizable or affordable as Internet Solutions for Insurance (ISi), powered by Modotech.
Benefits of Modotech’s Core Technologies
Instead of fragmented core systems, ISi is a modular insurance core system that connects all the programs needed to manage a policy lifecycle on one platform and one dashboard. Built on a single codebase, configurations tailor the platform to each client’s specific rules and rating logic. What’s more, the client owns its data and can use it however they want.
ISi’s unique architecture also enables P&C insurers and MGAs to innovate faster with new models or launch new products at lightning speed.
Legacy System Modernization to ISi
Upgrading, maintaining and supporting legacy systems is a hassle, and these obsolete systems do not integrate with vendors, which can prevent an insurance business from running efficiently and without bottlenecks. ISi’s sleek design allows users to send and receive data, without leaving the dashboard. Say goodbye to slow legacy processes and data silos.
Leaving behind the clunky legacy system that’s been active for years can be stressful, but Modotech continues to boast a 100% success rate over 25 years of business. A software solution that is built to scale, ISi also delivers exceptional service and training and can be configured to support niche insurance markets too.
Fast, Highly Configurable, Table-Driven Insurance Core Systems
With the right database-driven tool, being smaller translates to agility. ISi doesn’t require coding to make changes to the system, products, and workflows. Modotech’s ISi is a core system that can be configured in tables, to enable easier modifications and faster launches. With ISi, the client owns the data and dictates how the data is to be used to meet business goals. A less expensive alternative to Duck Creek and Guidewire, ISi makes sense for smaller insurers and MGAs.
Improve Customer and Agent Experience
Built-in eSignature, self-service tools on the policyholder portal, and multiple touchpoints to communicate with the policyholder enhance the customer experience. Customers want to be able to buy over the phone, online or in person. Modotech helps build convenient mobile and web experiences as well as text and email communications to offer the omni-channel options your policyholders expect.
How ISi Compares to Other Insurance Core Systems
ISi stands apart from traditional insurance core systems in several key ways:
Faster configuration with table-driven rules (no coding)
Single codebase, reducing maintenance complexity
Lower cost than enterprise platforms like Guidewire or Duck Creek
Built for smaller insurers, not retrofitted from enterprise systems
Faster product launches
See how ISi can increase your ROI and help you scale your business. Book a demo today.