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ParaCode goes live for KBIS British Equestrian Insurance!

21 April 2021 | Company news

ParaCode, the latest cloud-based policy and claims administration system has gone live with its first customer, KBIS, one of the leading equine insurance businesses in the UK.

ParaCode is a multi-tenanted SaaS platform hosted in Azure and built using the latest .Net coding language.

The original requirement for ParaCode grew out of KBIS’s dissatisfaction with the offerings of existing providers and a failed deployment from one of the largest software houses in the marketplace.

KBIS wanted a platform that would enable their growth rather than hinder it and allow them to manage the platform themselves without having to come back to the developer each time a change was required.

KBIS needed the platform to be able to offer cover and handle claims for horses, personal accident, saddlery and tack, trailers, horse boxes, property and liability cover.

The platform had to allow subjectivities, exclusions and warranties to be automatically generated based on the client’s answers to questions in the fact finds.

KBIS also wanted to be able to edit their existing products and build new products in response to market changes, all without the need to refer to the developers.

To achieve this, from day one ParaCode was built to be agile, flexible, scalable and secure, with the ability to insure anything using any rating methodology. It incorporates a rating engine, form builder, claims management suite, email functionality, sanctions checking and report writer.

Following the launch of ParaCode, Guy Prest, Managing Director of KBIS said, “Paracode is a game-changer. It allows us to be masters of our own destiny, unconstrained by the limits of our previous insurance systems. We can quickly and easily respond to our changing marketplace, all without the need to refer to the developers. We can build new products whenever we want to, however we want to and make changes to existing products very quickly.”