Treaty reinsurance is insurance purchased by an insurance company from another insurer. The company that issues the insurance is called the cedent, who passes on all the risks of a specific class of policies to the purchasing company, which is the reinsurer. Treaty reinsurance is one of the three main types of reinsurance contracts. […]
Efficiency is essential for maintaining competitiveness in the quick-paced insurance industry. Insurance firms require strong solutions to optimize their operations due to the growing number of policies they oversee, claims they must handle, and laws they must adhere to. That is exactly what ICON Limited’s Bima ERP systems provide, with […]
In today’s fast-paced digital era, insurance firms must innovate and adapt to meet the evolving needs of their customers
The choice between cloud and edge computing is like day and night
With the financial world changing so quickly these days, the underwriter’s function has changed significantly. Underwriters employ data analytics and modern technology to make better decisions and informed choices instead of being limited to manual procedures and outdated techniques. This development has led to the emergence of the notion of […]
Organizations in a variety of industries are increasingly using enterprise resource planning (ERP) systems to improve decision-making, improve efficiency, and streamline operations in the rapidly shifting business landscape of today. The General Ledger module is an important component of an enterprise resource planning (ERP) system, acting as a basis for […]
Cyber security is the practice of protecting computer systems, networks, and data from digital attacks, theft, and damage. Insurance companies hold a wealth of valuable information, including social security numbers, health information, and financial data, making them prime targets for cyber criminals. As insurance firms handle a vast amount of […]
In today’s fast-paced world, everything is becoming digitalized, and insurance policies are no exception to this trend. Insurance companies now offer various policies at the click of a button, and with the advent of mobile apps, these policies can be managed with ease. One such new policy type is usage-based […]
As more and more companies shift to remote work, it’s becoming increasingly important to have the right tools and solutions in place to ensure a seamless transition. For years, ICON has assisted insurance firms of all sizes in navigating the digital world, and our array of digital services are appropriate […]
The insurance industry is competitive; Insurance companies must find ways to optimize their operations, increase efficiency, and provide excellent customer service. One way to achieve these goals is through custom software development. In this blog post, we will explore the benefits of custom software development for insurance companies. To conclude, […]
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