Technology & Innovation
Profit Software’s proven solutions are the results of our decades of business and technology experience within the financial realm. We understand our customers’ needs and adjust our software products and features to match the needs of our customers’ specific use cases. We constantly innovate and develop our ways of working, as well as, expand and refine our product suite.
One platform for the most common life insurance products
Our PLP Suite is built upon one stable and high-performing platform, which enables a coherent and seamless user experience for our customers and naturally, their end users. Having savings and risk policies in a common system saves time and brings forth all the benefits of having shared integrations with the rest of the system world and less environments to execute and secure.
With one platform in place there is no need to have specific IT systems for different customer motivations, savings instruments or management forms for savings pay-out. Utilizing our advanced technology, the PLP Suite handles all the most common use cases, such as covering personal and family risks, accumulating savings for retirement or rewarding company key personnel, handling guaranteed interests, as well as linking savings to external funds. Flexible policy and product data structures with technical services enhance and optimize life insurance handling. Streamlined products under one platform help our customers strengthen their operations and customer service.
As a central calculation engine, our Math Manager provides support for the entire policy life cycle – ranging from offer and change calculations to care and claims calculations. One of its most important features is the support of retroactive calculation transactions.
Math Manager can handle existing and runoff insurance products equally to new ones, and it can be used as a simulation tool in the development of new products. It can also be used to enable sales channel-specific pricing models. Math Manager provides an XML-based interface for integration with third-party environments.
Testability by design
Insurance products are complex, and the related core solutions can become even more complicated when accommodating all possible scenarios and corner cases. Our solutions have been designed to be testable to ensure high functional and non-functional quality is maintained.
On top of having the possibility to create various types of automated testing during development, our solutions support the possibility for time traveling and lifecycle simulation as well as full audit-trail versioning.
Given the policy lifecycles span over decades, it is crucial to be able to easily simulate testing scenarios, which cover the full policy timespan from initiation to closure. Our test automation catalogue contains a vast amount of regression tests.
Profit Software has extensive expertise and experience in demanding policy data base migrations. We have developed and used, in numerous projects, a common technology toolchain and produced a well-proven process to ensure a managed and efficient execution. Our tools provide multipoint verifications and automated rules-based validations against the migration material. Manual migrations, recalculating policies and audit trail are all features enabled by our solution.
Innovation is an intrinsic part of our business. We want to discover, try-out and validate new growth opportunities by looking into software services within the Nordic FinTech area.
Our dedicated innovation team builds and iterates prototypes that are validated by our customers.
Profit Labs is a showcase portal demonstrating our innovative solutions. In case you want to know more, please contact email@example.com.