In today's insurance market, speed to market is critical if you want to keep a competitive edge. With a product builder "sandbox" incorporated into the NIMBIS system as part of the user interface, users can now be trained to build insurance products within minutes to a couple of days. The flexibility of NIMBIS allows the user to create rating criteria by section, change policy wording, update excess structures, design schedule layout with logo's and branding and a lot more, placing full control of the product design and build in the hands of the user. Once the product is ready, it requires distribution across the broker market in order to be made available to consumers. With the click of a button, NIMBIS allows you to distribute your insurance products across your broker base, allowing them to start selling immediately. Once your product is out in the market, you can manage your product versions centrally and update rating criteria, excesses, wording, etc. Any changes that are made to the product, are immediately visible and available across your broker network as everyone is accessing the same version of the product.
NIMBIS completely changes the way broker networks, administrators and insurers do business by creating a single eco-system for all role-players to participate in the policy life-cycle. The mere fact that NIMBIS can be accessed via an internet browser from any device (laptop, tablet or even a smartphone), from anywhere in the country, revolutionises the way the industry collaborates. From a field staff member or broker’s perspective, it enables the capture of client information and generation of a quote on site with the press of a button, speeding up the process of approving and issuing a policy. Should the relevant staff member or broker not have the necessary mandate, an office-based underwriter can access NIMBIS simultaneously and do the necessary approval in real time whilst the broker is still on site. From an administrator’s or insurer’s perspective, NIMBIS has a multitude of additional benefits:
Apart from all the standard features you would expect from a policy administration system, NIMBIS provides for much more. In an attempt to eliminate paperwork as far as possible, NIMBIS provides for a document warehouse which allows users to upload and store all documents in an electronic format. Not only does this allow for a paperless environment, but all documents are automatically backed up to the cloud. With ease of use and process optimisation being key to the design of NIMBIS, the system allows the user to create a new quote from a policy and copy existing items to eliminate the need for re-capturing of data, as well as address verification through a GOOGLE map link. Communication with policy holders, brokers and administrators can also be managed in NIMBIS, via e-mail and sms, creating an audit trail of your communication with your clients which is automatically attached to the particular policy holder’s file. NIMBIS also has a Complaints module which allows users to log and keep track of all client complaints for compliance purposes.
As part of the standard implementation, NIMBIS has a full end-to-end claims management module which covers the whole claims process from first notification of loss to final settlement, incorporating catastrophe management. NIMBIS provides for different workflows and escalations based on the particular section of cover and peril, ensuring a smooth claims process and client experience. To further ease the administrative workload, NIMBIS automates the process of document sourcing by engaging the policy holder directly through sms reminders, informing them of outstanding documentation and allowing them to upload their documents directly to their file in the document warehouse, whilst keeping track of documents received and what’s still outstanding.