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FirstGen – P&C Insurance Core solution

Business Challenges

P&C insurance business has never been more complex than it is today. Customers are demanding newer products, more convenient experiences, and consistently outstanding customer services. As markets and products evolve, insurers must also be able to adapt with changing market demands and stay ahead.

To evolve with changing market demands and stay ahead, a foundation in the form of P&C core insurance solution like FirstGen P&C Core is required, which consistently supports ongoing innovation, rapid product design, full policy lifecycle and ease of integration with larger insurance eco-system.

The cloud-enabled modular design of FirstGen further meets the ever-increasing demands of various insurance market segments including Personal, Commercial, Specialty and Health Line of Business.

FirstGen has been recognized by Celent – the leading research and advisory firm focused on technology for financial institutions globally – as Functionality Standout in its Q1 report of 2023 for APAC PAS systems.

Evolution

FirstGen has been developed and continuously enhanced almost over four decades by a team of insurance experts and technology specialists of FirstApex. 

 

Solution Building Blocks

  • Loosely integrated policy administration system with Party, Billing, Outward reinsurance and Claim Management.

  • FirstGen Business Data Modeler (BDM) to support the design and deployment of new insurance products at the speed of business.

  • State-of-the-art business enablers to manage day-to-day insurance operations through NextGen Rule and Rating Engine (RRE), NextGen DocCreator (DC) and NextGen Screen Designer.

  • Simplified configurators to create new product definitions from scratch, with the aid of a wide range of LOB and Product templates. Pre-configured templates form the basis of base product configuration that can be tailored to implementation needs.

  • Auto-generated product agnostic and product specific APIs based upon FirstGen product definition within the BDM configuration aim to provide both digital and omnichannel experiences for agents, brokers and consumers likewise via Nextgen Integration Platform (NIP) API Sandbox.

  • Enhanced and unified User Experience for both back-office business operators and IT users.

Benefits

Complete Solution for Insurance Carriers

  • Market expansion with heightened user experience and operational efficiency

  • Promote new products to existing and new market zones with confidence

  • Make effective decisions with the help of FirstGen’s business enablers

Capabilities

Ahead of the competition

  • Available as SaaS offering with ready to use product template

  • Speed to market

  • Pay per usage (Subscription License)

  • Diversified hosting options with both on-prem and on-cloud 

  • Strategize your insurance product using NextGen Business Enablers

  • Modular architecture with ready to use APIs and pre-configured dashboard widgets

  • Multi-lingual and multi-currency

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