Insurance technology is set to be disrupted today with the UK launch of Zov Solutions, and its platform SID. SID is a fully-integrated general insurance software that enables non-life insurance providers to manage underwriting portfolios, bill clients, gain insights and review policies. The software makes it easier for insurance companies to keep on top of the entire policy lifecycle, streamline their business and help grow their customer base.
Zov Solutions was founded in Sofia, Bulgaria by a team that has spent more than thirty years in the insurance industry. After experiencing many of the frustrations that insurers deal with first-hand – such as outdated legacy systems, poor-quality information and claims handling delays – Zov Solutions has developed its own software, named SID, to solve inefficiencies for insurance companies.
“We know today’s insurance companies need to modernise and adopt a more client-centric approach in order to stay competitive. They need better technology to do away with inefficient processes that waste money, time and resources,” said Petko Tonchev, Director at Zov Solutions.
“With the launch of SID, UK insurance providers can streamline the underwriting process, remove claims wastage and track the development of the whole portfolio, at the touch of a button. Insurers can now make faster decisions, work smarter and expand their customer base – all from one platform.”
For insurance companies, adopting SID will result in increased efficiencies thanks to the ability to run detailed analysis and reporting, and to track the development of the whole portfolio from a personalised dashboard. This gives MGAs and insurers a single, unified view of their clients and policies. Users will also be able to build new insurance models and products from SID’s database of easily-configurable risk and product attributes.
The streamlined underwriting process is supported by a step-by-step workflow wizard that helps users complete complex processes with minimum effort. Thanks to its adaptive technology, companies also don’t need any new infrastructure to operate SID, making it easy to integrate into any size of operation and grow with your business.