nexxbiz IBPM 2.0, accelerating value delivery
At nexxbiz, we stand at the forefront of innovation in the insurance industry, fueled by a deep-rooted belief in the power of partnership, expertise, and pioneering solutions. With over 25 years of experience in insurance and cloud platform development, our team is synonymous with reliability and forward-thinking innovation, committed to breaking down the barriers that limit ambitions and hinder mission-critical business processes.
nexxbiz 2.0 platform elevates the insurance solutions to new heights through our innovative, scalable, and secure Insurance Platform as a Service (iPaaS) model. Alongside our ready-to-use SaaS application, our platform extends a robust foundation for secure, extensive integration of diverse software systems. This unique approach not only facilitates seamless interoperability but also empowers insurance companies to use standard and proven building blocks and configure a tailored insurance ecosystem that aligns perfectly with operational needs and strategic objectives.
Our cloud insurance software is engineered to transcend traditional boundaries, providing a flexible, scalable, and secure environment where integration and configuration take center stage. By leveraging various cutting tech technologies, our iPaaS unlocks new realms of possibilities, ensuring that insurance operations remain agile, compliant, and competitive in a rapidly evolving marketplace.
Secure, Reliable, & Scalable Cloud
Leveraging the iPaaS model, we not only offer functional capabilities but also provide a gateway to extensive quality features. These features relieve the need for any insurance company to heavily manage non-functional aspects of these core systems.
Cybersecurity & Business Continuity: In the digital transformation journey, ensuring the security of sensitive customer data is paramount. We continuously and heavily invest so that platform is engineered with robust cybersecurity measures, guarding against a range of modern cyber security challenges.
Reliability & Responsiveness: Procedures often hindered by manual processes are streamlined with our automated solutions. These enhancements foster prompt responsive and smooth workflows, while safeguarding integrated systems, business processes, and data against unexpected failures.
Integration & Scalability: Our platform’s flexibility facilitates seamless outbound and inbound system integrations, enabling a scalable and high-performing architecture for secure insurance data exchange.
Policy & Claim Management Automation
Configure a diverse range of product types encompassing Property and Casualty, Travel Insurance, Liability Insurance, Pet Insurance, and life insurance domains.
Flexibly configure complex business rules and premium models, aligning with desired business requirements.
The scalable and high-performing back-end ensures seamless administration and management of insurance data, fostering a secure and robust operational environment.
Financial Processing & Reporting
The Insurance Platform’s Financial Processing & Reporting module offers advanced, customisable reporting on all insurance data, features scheduled exports, integrates with payment gateways, automates bank statement processing, seamless ledger integration, and improves manual exception management while ensuring maximised automation capabilities.
Integrated Insurance Platform for Life, Pension, and Disability (IIP)
The Integrated Insurance Platform digitizes the actuarial modeling and reporting processes for life, pension, and disability insurers under reporting frameworks like Solvency II, IFRS 17 and local GAAP. It is a fully parametric actuarial projection model that leverages on efficient actuarial methods and modern programming techniques for optimal performance.
Data model, which ensures control over all input data and assumptions.
Calculation engine, in which extremely fast actuarial projection models can be constructed.
Reporting module, in which results can be presented on both executive and analyst views.
Process controller, which automates the entire processes from input data to report.
Integrated Insurance Platform for Life, Pension, and Disability
At the heart of every insurance company are their actuarial modelling and reporting processes. These are digital processes at their core, however, the ever evolving regulatory landscape boosts the need to keep digitising them even further. The increasing number of necessary projections, assumptions, amount of data involved, and reporting frequency to comply with today’s internal and external reporting requirements put traditional processes at risk of becoming too slow and uncontrollable. Therefore it is essential for insurers to have access to the right tools to ensure quality and move with the times.
The nexxbiz Integrated Insurance Platform is a Python based software that allows the user to add models for their products and customise reports in an easy and intuitive way, as well as to access the source code for advanced customisation. It also allows the user to connect the platform to any type of data source, and contains numerous automated controls. The platform is designed to ensure that the actuarial modelling and reporting processes are up to date and future proof.
What nexxbiz offers
- A digital environment to cope with today’s and tomorrow’s business & reporting requirements. A powerful data handling philosophy, that ensures flexibility, scalability, completeness & audit-ability.
- Leverages on efficient actuarial methods and modern programming techniques for optimal performance.
- Simultaneous & consistent policy-by-policy projections of Solvency II, IFRS 17, and local GAAP liabilities, i.a. including the exact determination of the risk margin and the capability to perform full retrospective calculations.
- Extensive reporting capabilities, providing a deep level of insight in the insurance portfolio’s performance.
- A high degree of process automation, allowing the user more time to analyse results instead of preparing the processes.
- Potential release of prudency and expense reserves, due to exact calculations and process automation.