ParaCode V2 Platform Update
26 September 2022

This ParaCode platform update strengthens its position as the most advanced cloud-based insurance policy administration and claims management software for insurers, brokers, MGAs and coverholders. Update highlights include:

  • Bulk communications
  • Multiple instances of the same cover type
  • Close Brothers integration
  • Web quote and buy
  • Software updated to latest Microsoft .NET Core platform

Bulk communications
Bulk communications allow users to quickly and easily send communications to many different people using a simple communications template. This is a huge time saver when dealing with many customers and is ideal for sending out quote and renewal chasers. The time saving reduces costs and allows users to focus on higher value-added activities rather than administrative tasks. First the user searches for an audience using any of the search pages in ParaCode, allowing a very high degree of definition in audience creation. The audience might be all customers who have had quotes on a particular day, or they could be all customers who have had a claim of a certain type. The audience is then attached to a communications template, which might consist of an email or SMS, or both. Audience members can be filtered by GDPR status so that you do not accidently communicate with people who have not given you permission to do so. The communication is then sent to all members of the audience and a record is entered on each customer record showing the same.

Multiple instances of the same cover types
This feature allows the same cover type to be added multiple times, if configured to do so in the contract configuration screen. This is particularly useful when insuring property items such as buildings, where each building needs to be individually recorded on the policy but uses a common rating structure. This feature provides substantial benefits when using ParaCode’s market leading product building tools to build complex commercial products, which might include hundreds of individual items of property that need to be separately recorded on a policy.

Close Brothers integration
ParaCode now supports both Premium Credit and Close Brothers, the UK’s leading premium finance providers. The option to chose one or the other or seamlessly move between the two on a policy by policy or contract by contract basis gives ParaCode users greater scope when negotiating rates with finance providers and makes solution deployment simpler, quicker, and cheaper.

Web quote and buy
ParaCode’s web quote and buy capability has now been embedded in our leading product building functionality. This speeds up the process of getting insurance products in front of customers by allowing users to create web versions of indication/quote and proposal forms, which can then be surfaced on websites using an iframe or hosted via a separate web quote and buy portal, to drive quotes and sales through the platform directly.

Software updated to latest Microsoft .NET Core platform
The ParaCode code base has been updated to the latest version of .NET Core, bringing a host of performance and security advantages to the platform. The upgrade ensures our platform will never reach a “legacy” stage and will always be at the leading edge of development.

For more information, if you have any questions about the ParaCode platform update, or if you would like a demo, please contact us today.