Damco Solutions Reviews & Pricing

by Damco Group | Founded 1996, Princeton, NJ

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Overview Benefits Reviews Features

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What is Damco Solutions?

Industry Specialties: Insurance

Damco Solutions provide a complete end-to-end, scalable agency management platform designed to digitize and streamline modern day business processes and improve customer relations. It employs various modules to organize and simplify complex procedural data. It automatically logs consumer behaviour, daily activities and transactions to produce a dynamic view of business operations. Predictive analytics generate statistical data reports and business leads required to increase growth and speed to market. Its configurable agency module allows agents to manage claims, policies, renewals, cancellations and enrollments remotely. All data can be shared in real time between the insurers, insured parties and carriers.

Its communication portal serves as a central hub for clients, brokers, agents and vendors. The multi-device architecture allows policyholders to manage their policies, raise claims, perform cancellations and more through interactive chats. Insurers can process requests in real time in addition to up-selling and cross-selling products. Users can automate daily tasks, reminders, information updation and policy administration. It surveys market trends to generate rate quotes, discounts and recommendations. It centrally secures all data for error-free bookkeeping. Its blockchain-based payment module automatically verifies customer identities to protect against fraud.

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Damco Solutions Benefits and Insights

Why use Damco Solutions?

Key differentiators & advantages of Damco Solutions

Optimize Product Development: Develop high-quality insurance products faster with real-time insights from the digital sales pipeline.
Reduce Wait Times: Significantly speed up underwriting and claims processes with automated workflows.
Improve Marketing Strategies: Increase the agency’s client base with effective and personalized marketing campaigns devised from sales data and agency statistics.
Airtight Security: Protect both the agency and its clients from fraud and identity theft through machine learning-based threat detection.
Improve Customer Service: Attract more leads and offer 24/7 customer support with dedicated insurance chatbots that offer intelligent conversations.

Industry Expertise

Designed for insurance, automotive, healthcare, education, energy, retail, eCommerce, financial services, utilities and publishing industries.

Key Features

InsureEdge

Claims: Leverage automated workflows to shorten the claims lifecycle. Eliminate errors and omissions (E&Os), frauds and claims leakage. Track the claims timeline and associated backend processes in real time. Provide underwriters with data-driven insights for risk evaluation. Access a complete record of reserve history and claims payments.
Policy Management: Automate policy procedures for schedules, wordings, endorsements, debit notes, certificates and cover notes. Maintain version records of all insurance products for future reference.
CRM: Maintain visibility over leads and customer interactions with a single-screen dashboard. Improve customer experience with advanced data reporting and self-service tools. Create holistic policyholder profiles to cross-sell and up-sell opportunities.
- Track Leads: Get regular reminders to follow up on potential leads. Use automated workflows to boost conversion rates. Review client data to cultivate meaningful engagements with potential clients.
Legal Documentation: Create a customizable depository of legal documents. Facilitate fast and safe file retrieval and document search. Link digital and physical copies of legal documents. Set up user roles and permissions to secure access to sensitive files.
Integrations: Integrate with external business systems and applications with its Web API feature.
Agency Portal: Maintain complete visibility of tasks and activities at the agent level. Agents and brokers can exchange information in real time.
Proof of Insurance: Automate the proof of insurance procedure with digital workflows. Insurers can write insurance contracts on the Blockchain register.
Product Administration: Configure insurance products with custom rates, loadings and discounts.
Reinsurance: Offers a dedicated portal to configure reinsurance treaties and facultative arrangements. Integrate reinsurance processes within native workflows.
Dashboard and Reporting: Access over 200 built-in standard and statistical reports. Export results for further analysis.
Compliance: Multi-level escalations, reports and reminders ensure compliance with government regulations.

BrokerEdge

Process Automation: Automated workflows remind agents of priority actions, important dates and client touchpoints. Ensure seamless information exchange between insurers and carriers.
Dashboard View: Get priority access to critical information with an intuitive user interface.
Commission Tracking: Set up automated payment schedules. Maintain detailed logs of received and missed payments.
Legal Documentation: Centrally store all policy-related documents and claims evidence.
SMS/Email Marketing: Send bulk SMS and emails to leads and potential clients to improve lead conversion rates.
Policy Management: Add notes to contact and client profiles and connect them to associated policies. Get continuous access to insurance products.
Mobile App: Provides a self-service portal for claims reporting, secure payments and quicker enrolments.

InsureGO

Quote Generation: Allow agents to generate quotes instantly. Directly send requests to the sales team and expedite closures.
Remote Payments: Provide insureds with a secure online payment portal. Clients can pay via eChecks and credit cards.
Sales Effort: Enable potential clients to locate nearby agents and calculate insurance costs. Offers information on the insurer and available insurance products.
Self-Service: Request customer e-signatures and allow them to view and edit policy information. Directly address the policyholder’s queries with a dedicated communication channel.
Claims Processing: Clients can upload relevant images in case of an accident to speed up claims reporting.

B-Life

Stakeholder Dashboard: Get a 360-degree view of purchase, verification, management and policy sales.
Tokenized Rewards: Promote customer loyalty by offering crypto tokens as a reward system.
Client-Centric Processing: Prioritize risk-free life settlements, instant fraud detection, custom LE reports and secure payments.
Blockchain-Based KYC: Automatically perform customer identity verification via distributed ledger technology (DLT). Eliminate insurance and investment fraud, lower operative costs and accelerate life settlement transactions.
Escrow System: Leverage decentralized and DLT-based escrow systems to implement a secure and authorized blockchain-based litigation setup.
Smart Contracts: Internally manage cryptographic records, risk assessments and automated value transfer with the Smart Contracts tool.