Reimagining the Future of Life Insurance Process with STATIM® LI

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Transforming Your Life Insurance Business with STATIM® - LI

The insurance industry is on the cusp of digital disruption. However, legacy players are facing several challenges to survive in today’s competitive market. STATIM® is a cloud-powered Life Insurance solution that takes care of aspects like underwriting, policy administration, and claims processing. Built on modular architecture, STATIM® will help in acquiring and retaining policyholders, enable efficient risk management, and streamline the process of policy servicing. Ultimately, it will facilitate insurers to overcome the obstacles of archaic regulations and legacy infrastructure.

With STATIM® LI, insurers can access real-time data and analytics that can be used to improve underwriting, claims management, and risk assessment. Our platform is designed to offer complete transparency and accuracy in data reporting, ensuring that insurers can make informed decisions quickly and efficiently.

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STATIM® is an end-to-end and modularized insurance solution with multi-platform support that helps to accelerate growth and streamline all channels of the insurance lifecycle.

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An efficient and expert auto underwriting solution that automates underwriting decisions and facilitates risk triage into Standard, Refer/Decline risk requirements. Product Configurator with inbuilt parameters for quick product and business rules configuration. It provides the ability to centralize, thereby enabling the reuse of calculations and business logic.

Our intuitive interface allows every authorized member of the organization to quickly view, schedule and execute everyday tasks while offering management control and improving accountability for decision-making throughout the organization. It also provides robust performance criteria definitions, using the unique KPI engine for defining eligibility, calculations, and payouts.

Enables easy tracking and managing of entire insurance claims (Both Maturity & Death) processing with a flexible business rule and workflow configuration. CMS also provides triggers for generating notifications and comprehensive MIS reporting

Business Intelligence and Reporting solutions help the operational and executive management gain easy and timely access to high-quality, robust information required for decision-making to achieve the organizational goals.

Captures all insurance operational and general business transactions processed in real-time from all system modules, including up-to-date financial information like P&L Statement, Trial Balance, balance sheet from multiple ledgers, accounts payable, accounts receivable, and General Ledger.
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Unlock New Opportunities with mSTATIM for Life Insurance - A B2B and B2C Life Insurance Mobile Application

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Our mSTATIM Life Insurance Mobile Application helps both insurance providers and policyholders to simplify policy purchase, proposal journey, accessing customer data, make premium payments, and a host of other features respectively to make insurance process a simple one.

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Lead
Tracking

List of Leads with status, notifications, follow up and tracking

Proposal Entry and
payment

Leads can be converted into proposals and payments can be made.

OTC Issuance
(POS)

Proposals can be converted into policies based on auto underwriting rules.

Daily Sales
Report

Provide the status of proposals / policies issued on a daily basis.

Product
Recommendation

Users can demonstrate the customers about products, key features and benefits including benefit illustration.

Premium
Calculator

Provides insight into premium calculation and multiple payment modes even before the generation of product quote / proposal.

Document Management
System [DMS]

substantiate the risk metrics mentioned in the proposal by uploading the applicable document. .

Renewal
Dashboard

Simplifies the insurance renewal process by offering a centralized, user-friendly interface and provides information at a glance on policy status, renewal dates, and allows policyholders to renew their policies. It enhances transparency and user control.

Payment
Gateway

Our mobile solution can be integrated on plug and play basis with multiple payment gateway solutions.

Assisted Insurance
Journey

Assisted insurance journey leveraging technology to enhance customer experience, combining human support with digital tools for smoother customer interaction. This approach provides personalized assistance while optimizing efficiency in the insurance process.

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Why should you Integrate Statim LI

STATIM® LI Novac’s life insurance solution offers insurers a range of benefits and features that can help them to improve efficiency, offer comprehensive coverage, make more informed decisions, and provide a better customer experience.

  • Real-time sales and marketing analysis
  • Improved efficiency through automated workflows, thereby reducing operational cost and complexity
  • Eliminates redundancies
  • Customer-centric platform
  • High-performance analytics and improved business capabilities
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Segments We Serve

Retail policies
Retail policies (Participating & Term)
ULIP policy
ULIP policy with multiple funds
Group Insurance
Group Insurance
Different type of Riders
Different type of Riders
miscellaneous
Miscellaneous
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Bring in the change to your Insurance business with STATIM®

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ReImagine Life Insurance Business with STATIM® - LI

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