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We have identified few common constraints within the vast majority of insurance organizations that have to be considered. The main reason for underperformance of many companies is because they use core insurance software systems that are morally and technologically outdated.

The second one is the need of rapid change of the internal business needs and processes, required to embed performance management into operations. The latter will help organizations to become more transparent, to mitigate risk and become agile and adaptive enough to respond and plan effectively their future.

As a result, we provide a full range of IT solutions that address various business challenges which players in the insurance industry have to tackle. We offer a turn-key solution for insurers, which is an integrated platform with unified design that delivers consistent structure models across different user interfaces. It is easily adjustable to meet the need of different partners or clients and immensely reduce the resources for trainings, change management and software adoption.

Structure of the platform

The platform works as a complete or partial solution with possibility to integrate existing applications. The deployment could be either in cloud or on-premise, and further scalability. It is based on modules that provide a complete set of features covering all functionalities. The system can be implemented both with SQL /Oracle database. Our skilled Oracle / SQL database specialists will make the data migration from your existing system as smooth as possible and Sirma Group can provide guarantees for best possible migration of data.

The pluggable architecture provides easy to extend model, where new modules can be easily plugged or integrated into the systems, without modifying your base software.

Modular architecture allows to scale horizontally, vertically, and elastically as your business grows without sacrificing performance — in the cloud or on premise. Our core applications use standard Java approaches to scale to thousands of concurrent users and millions of policies, ensuring that you’ll never outgrow it.

Detailed description

Universal product builder.

Modular structure of the products.

Easy configurable product characteristics with basic and additional risks, commercial rates, clauses, insurance technical term, discounts, loadings, underwriting levels and controls.

Implementation and integration of Internal and external bonus / malus systems for the different types of insurance.

Product templates with inheritable properties for quick product customization to meet the need of corporate, retail, SME and channel specifics.
Product building hierarchy with actuary tools to operate from the level of the individual insurance risk through the different clauses through the insurance product to the product group level. Adapt existing products while the business models evolve, new products emerge and distribution strategies change.

Nomenclatures for all standard and non-standard risks and sub-risks, linking them with reinsurance risks and risk tables with predefined actuarial and financial parameters for each level and sub level.

 Ability to temporary change the characteristics of a product group to serve the purpose of a dedicated event (e.g. commercial campaign provides discount or additional covers for the client).

Report builder, allowing all necessary reports in all necessary viewpoints (client, object, parameter of the client/object etc.) to be created for several hours.

Build-in underwriting rules and procedures for standard and tailor-made business.

Integrated 4-eyes principle for custom underwriting.

Built-in hierarchy levels following the organizational structure with different underwriting rights.

Policy lifecycle management from offer through quotation to policy.

Policy administration including all supporting documents, management of annexes, statuses, terms, owners, objects, linked entities and etc.

Possibility for multiyear policy, combined policy and etc.

Tool for policy design. Design for optimal visuals of the policies.

Integration with Sirma Software for intelligent paperless management of business processes and documents allows the automation and control of all policy & quotation processes.

E-bill and e-reporting.

Invoicing and issuing of payment slips and payment orders. Debit notes.

Automatic data transfer from online banking.

Automatic data transfer to accounting systems

Automatic matching of received premiums. Matching of individual policies bank payments and multiple policies payments (or report payment).

All characteristics of a payment including statuses, sums, dates etc.

Billing and payments on policy, statuses.

Possibility for intermediary/customer self-service.

Accurate picture of accounts receivables.

Reports pursuant to Insurance Code and regulations of the Supervisory authority.

Internal reports on payments.

Configuration of specific requirements

Integration with Sirma Software for intelligent paperless management of business processes and documents

Claims settlement and all relevant procedures.

Individual and company customer’ claim files. History and reporting on claims.

Mass selection and automatic payment of claims.

Automated change in the claims status via different events occurrence

Monitoring of critical deadlines. Warning notifications.

Escalations solution.

Role based routing and assignments.

Integration with external claims software.

Reports pursuant to Insurance Code and regulations of the Supervisory authority.

Internal reports on claims.

Integration with Sirma Software for intelligent paperless management of business processes and documents.

Nomenclature of reinsurers and connection with the nomenclatures of the insurer.

Mandatory by law or customizable actuary reports.

Risk management and Solvency II reports.

Reports pursuant to Insurance Code and regulations of the Supervisory authority.

System can be upgraded with Sirma Actuary and Risk Management Solution

Differentiation of the reporting for operational and analytical use.

All reports needed for business, management, administration, product and actuary departments.

Reports pursuant to Insurance Code and regula-tions of the Supervisory authority.

Financial model of offices – income, expenses, allowances, bonuses.

Classification of the different distribution channels: bank assurance, insurer employees, intermediaries, partners, online distribution.

Segmentation within the distribution channel and within specific parts the distribution channel.

Multilevel sales organizations support.

Inheritance of properties.

Customization of characteristics in segmentation or class.

Commission model builder. Commission levels and schemes on different levels, management of individual cases.

Level defined commissions – policy, intermediary,
product, product group and combination of the above.

Options for withholding commission by the intermediary or not, multilevel scheme of commission, bonuses based on intermediary portfolio, claims ratio and etc.

Configuration of specific requirements according to the Insurers internal rules and procedures.

Tailor-made reports via reports builder

Automated control systems reducing the operational risks.

Integration with Sirma Software for intelligent paperless management of business processes and documents.

Claims handling / settlement software

Software for insurance brokers / External integrators

Accounting / Financial Software

Electronic (Online) Banking

Guarantee Fund

Bonus / malus external systems


Sirma Platform is responsible for configuration of the entire system, security monitoring and appliance, high availability ensuring, system logging, backup and recovery operations and other different technological aspects of supporting the normal performance of the solution and integrated systems and services running.

The design concept was derived from the expanding industry needs for:





The architecture complies with the recent IT best practices and standards:


Information security

High availability, recoverability and performance

The Solution, itself, is being developed under the strict procedures of the Sirma Global Method, which covers the entire lifecycle of a software product. The Global Method is compliant with the highest industry standards and has been derived and accommodated for the Company’s specifics through the years.

Why choose us?

We deliver a high quality combination of core software insurance management system and a bunch of functionalities for all supporting process and document management activities, which enable insurance companies to operate in an “end to end” solution. This approach helps them surpass competition, achieve operational efficiency, improve services towards intermediaries and partners, discover new business models and meet customers, market and regulation demands. We implement and integrate latest trends for design, interactivity, ease of use, innovation, and aligned them with the advanced technology achievements.