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.