Profit Software announces a new version of the Profit Life & Pension (PLP) solution

Oct 9, 2020 | News, Software Products

PLP 5.1 introduces new functionality, usability enhancements and regulatory body mandated updates to the common policy administration solution managing personal life risk, pension and savings policies.

PLP is a flexible policy administration solution capable of supporting the width of typical life risk, pension and savings insurances on the market, including run-off products. The local regulatory requirements are continuously monitored and fulfilled. Policy sales, lifecycle management and claims handling are at the very core of the solution with modern abilities to automate, integrate and adapt to customers’ digitalization and omnichannel strategies. Personal life risk domain is a high demand continuation to our PLP offering within the life insurance market.

PLP 5.1 highlights:

  • Policy administration solution for personal life risk, pension and savings policies
  • Support for typical personal risk insurance products, e.g. loan insurance, person health and life insurance, work disability insurance and child health insurance
  • Flexible product definitions and support for highly modular risk cover structures
    • Single claim payment covers in case of death, critical illness and permanent disability
    • Daily allowance covers for temporary disability and hospitalization
    • Covers for medical expenses
  • Insurances for both person & company policy owners, including single, couples and groups structures
  • Consolidated life risk product invoicing and payments management
  • Renewed user interface for risk product management and invoicing
  • Support for the Finnish national incomes register
  • Regulatory required changes to annual taxation reporting
  • Regulatory required changes to treatment of capital update in case of death or change of policy owner
  • Regulatory required updates to handling and reporting in case of loss of savings
  • Additional digitized and extended self-service functions with REST interfaces

Supported technical platforms:

  • Application server: JBoss EAP 7.2
  • Database server: IBM Db2 11.1.4
  • Continuous security, quality and performance improvements

Learn more about the Profit Life & Pension solution from www.profitsoftware.com.

For further information, please contact: sales@profitsoftware.com.

News

Profit Software ranked number 120 on the Tivi 250 list

Tietoviikko has published its yearly report on Finland’s 250 largest ICT companies. It states that ICT sector has grown rapidly; one sign was that minimum revenue limit in order to get to the list was 10.4M euros when it last year was 9.1M euros. The average turnover...

Profit Software rebrands as Evitec to support Nordic expansion

Profit Software is a leading provider of system solutions and consulting services to the Nordic financial service industry. It also offers analytics and information management services across multiple industries. The company is now starting a major rebranding project...

Blog

The development path of an initial idea into a new functionality

In the beginning, there is an initial idea. A fragment of a phrase from a conversation suddenly springs to mind. A question to colleagues, "has this ever come up with your client?". And in no time, we are in full swing at work, conceptualizing a new functionality! The...

System renewal – an upgrade in technology or also something else?

When discussing a system renewal, hot topics are amongst other digitalization, automation, conversions, and migration. And nothing wrong with these, all important factors ensuring the new system operates as whished and delivers the expected benefit. But will a system...

Tuotekehitystä ketterästi ja yhdessä oppien

Tässä sisältösarjassa tuomme esille Profit Softwaren eri kehittäjätiimejä. Nyt esittelyvuoron saa Mikan ja Teron johdolla tuotetiimimme, joka on erikoistunut Profit Life & Pension -järjestelmään tunnetussa ja pitkäaikaisessa finanssialan asiakkuudessamme. Mika...