Mutual Insurance Companies
Provide Optimal Insurance Coverage for Policyholders While Improving Capital Growth
High market competition and continued pressure on improving operations demand advances in underwriting performance. Whether you are striving to keep costs low while maximizing member returns or adding new lines of business and products, you need a technology partner with solutions that respond quickly and efficiently.
Designed to meet the needs of Mutual Insurers, Beyontec Suite offers a cloud-based, workflow driven, configurable solution for the end-to-end operational demands of your business. Beyontec Suite enables you to elevate your operations from an existing legacy system to a digitally enabled solution.
Beyontec Suite allows you to keep up with shifting business trends with a core solution that is configured with industry-specific products that meet the majority of mutual insurance companies’ needs.
Beyontec Suite establishes an online presence and extends business activities to the web. It serves more customers by interconnecting policyholders, agents, and other business partners.
Beyontec Suite comes with pre-configured products for mutual companies, making it easy to launch new products and modify existing products.
Beyontec Suite offers mutual insurers more than ten pre-configured products including homeowners, dwelling fire, commercial fire, liability, automobile, and farm owners insurance.
Beyontec Suite integrates with data sources like OFAC, address verification services, geographic services, license bureaus, and violation and accident reporting vendors to validate risk profiles and allow informed decisions about risk acceptance and claim settlement.
Beyontec Suite offers a catalog of business rules influenced by existing mutual insurance clients and driven by a powerful business rules engine.
Comprehensive Rating Engine
Beyontec Suite’s comprehensive rating engine allows mutual companies to configure their own rating variances and systematically apply surcharges and credits based on risk.
Complete Claims Management
Beyontec Suite offers complete claims management functionality with automatic verification of policy coverages based on loss date and activity and role-based workbaskets designed to encourage appropriate and timely actions.
Beyontec Suite tracks new, pending, and backlogged tasks and notifies agents, insureds, and employees of pending activities through a variety of workbaskets and automated communication.
Flexible Payment Methods
Beyontec Suite offers mutual company specific payment options and payment types including cash, check, credit card, debit card, ACH, and EFT are available.
Integrated General Ledger
Beyontec Suite offers an integrated general ledger package for managing financial accounting and reporting. The ledger includes invoice generation and check printing.
Beyontec Suite’s built-in configuration toolkit allows mutual insurers to manage day-to-day changes to products, workflows, rating, and underwriting rules.
Integrated Document Management
Beyontec Suite provides a central repository of all policy and claim documents and attachments, created by the system and those manually initiated.