Insurance and Claims Software

Ensuring a proper coverage of risks through insurance policies is challenging for companies worldwide. Insurance policies cover a wide range of areas, such as civil liability, product liability, automobile liability, workers’ compensation, etc. Organizations today struggle to monitor the costs of insurance policies related to insurable risks. Businesses need to select the best insurance policies and providers at the lowest cost and ensure a coherent insurance coverage that reduces redundancy.

Enablon helps companies manage and monitor insurance policies properly, control their costs and reduce risk impacts. Companies can map effectively their insurance policies with operational risks by producing a claim when a risk event occurs (e.g. workplace incident, failing asset, equipment failure) and associating each claim to an insurance policy. By centralizing all insurance policies, businesses can better compare policies and therefore negotiate better premiums and deductibles.

The Enablon Insurance and Claims software solution is designed to cover all aspects related to insurance policies and claims management.

The solution helps companies optimize their insurance coverage and reduce their costs:

Manage Insurance Policies

  • Centralize the management of all insurance policy programs and renewals, warranties, as well as associated stakeholders
  • Manage your Captive Insurance and keep track in real time of your capacity to issue payments related to claims
  • Maintain visibility over policy premium breakdowns in your organization
  • Anticipate insurance costs by simulating an insurance budget for the next period based on assets and claims
  • Improve the effectiveness of your insurance coverage by eliminating redundancies and overlaps
  • Easily monitor all insurance premiums issued and paid per policy

Monitor Policy Performance

  • Effectively monitor and measure policy performance based on claims losses and insurance premiums
  • Accurately measure and report on key claims performance indicators, such as TCOIR (Total Cost of Insurable Risk)
  • Enhance the efficiency of insurance policies and coverages

Control Costs of Insurable Risks

  • Establish visibility on costs of insurable risks
  • Optimize insurance coverage and costs by aligning them with insurable risks and assets
  • Reduce financial risk exposure
  • Identify cost savings opportunities by monitoring and analyzing costs associated with insurance policies, such as premiums and deductibles

Manage the Life Cycle of Claims

  • Centralize and consolidate all claims throughout your organization for submission to insurance companies
  • Evaluate the effectiveness of your insurance coverage by associating claims to insurance policies as well as events and impacts
  • Gain visibility over referenced stakeholders (insurers, brokers, experts, etc.)
  • Improve collaboration and knowledge sharing with internal and/or external stakeholders

The Enablon Insurance and Claims software solution includes the following functionalities:

  • Insurance and Claims Management

— Comprehensive management of insurance policies and stakeholders
– Management of registered groups, local policies and warranties
– Management of insurance policy renewals and policy premium breakdowns
– Simulation of insurance budgets based on assets and claims
– Captive Insurance management
– Central repository for all documents related to claims and insurances
– Reports on policies, entities, insurance premiums paid per policy, renewed policies, insurance costs, claims consolidated by entities, numbers and types of claims per entity, etc.

  • Insurance Performance

— Identification of gaps, overlaps and redundancy in policy coverage to optimize coverage/deductibles and costs
– Performance monitoring of policies based on claims and premiums, including reporting on key claims performance indicators
– Comparison between insurance policies, including coverage and costs

  • Claims Life Cycle and Financial Tracking

— Capturing and tracking the life cycle of all claims throughout your enterprise for submission to insurance companies
– Ability to associate claims to insurance policies and stakeholders
– Ability to associate claims to individual events and impacts, such as workplace incidents or failing assets
– Management of recognized or budgeted claim transactions

  • Integration with other Enablon solutions for Risk Management, Asset Values Management, and Incident/Event Management

The Enablon Difference

  • The most comprehensive platform for Sustainability, EHS and Risk Management
  • Used by more than 1 million users in 160 countries across all industries
  • Recognized by industry analysts across all product areas
  • Accessible anywhere, anytime on laptops, tablets and smartphones
  • A complete range of usage options, from SaaS to hosted and on-premises
  • A flexible technology which can be tailored to each company’s processes and organization
  • A global network of partners providing consulting, services, content and technology

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