about Insuresoft
Products & Services. Insuresoft develops products and services for the property and casualty insurance industry. The Diamond System, Insuresoft’s award winning policy
administration system, has been the company’s flagship product for the last 14 years. Recent industry trends led Insuresoft to enhance its claims solution capabilities
including offering Diamond Claims as a stand-alone solution or as an integrated piece to the Diamond System. Linde Wolff, Insuresoft’s Claims Product Lead, has led
the initiative at Insuresoft to deliver The Diamond Claims System. Linde has provided her insight and rationale on the recent development efforts at Insuresoft.
Diamond Claims System
Objectives
In today’s tough economic climate insurance carriers are looking for their
system solutions to allow them to make changes quickly in order to maintain their
competitive advantage. Systems must provide a robust set of industry standard
functionality as well as tools that allow configuration of both business rules and
the presentation layer to meet insurance carrier’s individual objectives.
With these objectives in mind, the Diamond Claims System was developed
using industry best practices to provide insurance carriers with the core
functionality and configuration options they seek to satisfy their unique
business needs.
Modern and Mobile System
The Diamond Claims System is easily accessible from any location. Built
using SOA technologies, Microsoft SQL Server, as well as Microsoft’s .NET
framework, the Diamond Claims System can be easily integrated with other
interfaces and products. Insuresoft’s modern platform improves usability,
streamlines implementation and lowers maintenance costs by improving ROI
through a lower TCO.
Easily Customizable Rules/Workflow and Tools to Configure and Maintain
Robust Core Functionality
Seamless Integration with External Systems
Policy
The Diamond Claims System comes fully integrated with the Diamond Policy
System but can also be easily integrated with external policy administration
solutions.
Check/Draft and Claim Forms Printing
The Diamond System provides a standard XML that can be integrated with
external printing solutions. The system is also fully integrated with the Diamond
Publisher print solution product.
By Linde Wolff
Claims Product Lead,
Insuresoft
External Interfaces
The Diamond Claims System provides several out of the box interfaces
including:
As an SOA solution, Diamond Claims can easily integrate with company
defined external interfaces.
• CLUE
• Medicare Secondary Payer
• ISO Claim Search
• General Ledger
Comprehensive Diary System
The Diamond Claims System provides a configurable workflow system
with automatic and manual diaries. The diaries are easily manageable for
both claims adjusters and claims management by using our user configured
workflow views and built in transfer functionality.
Advanced Reporting Capabilities
Over 80 claim specific reports are part of the core product.
• Financial and Management Analysis Reports
The financial and management reports provide carrier executives real-time
and month-end data to help control and reduce costs. These reports include
point in time reports, real time financials, end-of-month and end-of-year
reports, and standard Annual Statement Line reports like the Schedule P
report, Loss Development/Loss Experience, Reserve Analysis, and Expense
Control Monitoring reports.
• Workload Tracking
Reports that track claim counts, adjuster assignments, and previous year
comparisons help monitor claim volume, adjuster workloads, and productivity
to maximize efficiencies.
• Reinsurance and Catastrophe Monitoring
Identifying the large claim loss exposure helps to maximize the reinsurance
recovery potential. Included in the core product are several large loss/
reserve reports. The system also tracks reinsurance recoveries on specific
claims and ties claims to reinsurance contracts.
• Ad Hoc Reporting
Ad hoc reporting is also available using Microsoft’s SQL Report Builder.
About Insuresoft
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering
insurance software to the property and casualty insurance industry. Insuresoft
offers a suite of products and services that are configured to meet the unique
needs of insurance companies and managing general agents in North America.
Insuresoft is a privately-held company headquartered in University Park, Illinois,
with offices in Alabama and Minnesota. n
Insuresoft
2500 Bond Street
University Park, IL 60484
866.299.1314
www.insuresoft.com
