Next-Gen Core Insurance Platform

The Verna Core Insurance System is a fully integrated low-code core insurance platform. From policy creation to claim settlement, our platform streamlines every stage of the insurance lifecycle, ensuring seamless, end-to-end management. To support the delivery of digital services of tomorrow, the fundamental design principle of the platform has been API-first design to simplify integration with other external services.

The platform is suitable for any P&C insurance product, although most of the processes to date have been defined to support multiple types of motor insurance and embedded insurance products

Policy Administration

The platform provides comprehensive policy management tools for every stage of the policy lifecycle, including creation, modification, renewal, and cancellation. A user-friendly and configurable card structure gives insurance professionals a detailed overview of each policy. The Verna Workflow Engine enables the configuration of events and notifications for each step in the policy lifecycle. Additionally, for each policy type, an accounting template can be defined, ensuring correct booking within the platform's integrated accounting system.

The platform features a configurable pricing and rating engine that, combined with our no-code workflow engine, allows the setup of workflows for issuing quotes. It includes multiple APIs that support various distribution models for quote issuance and binding. Underwriting rules can be configured either within the platform or through external underwriting engines.

Underwriting, Quoting, and Binding

The platform incorporates role-based access control (RBAC), enabling insurers to use either predefined roles or create new roles based on product, process, customer segment, channel, or other criteria.

Accounting, Payments, & Collections

Claim Management

The platform offers pre-configured processes for First Notice of Loss (FNOL), claim assessment, estimates, settlements, and payouts for both property damage and bodily injury. Each stage of the claims process is event-driven, with the workflow engine able to trigger actions based on changes at every stage. Predefined APIs support digital claim processes through external websites or app

The platform includes an integrated ERP system for managing policy and claims accounting. It features a policy and claims ledger with full transactional history and monitoring tools to determine the status of batches or individual transactions. APIs are available to integrate with payment providers (e.g., card payments, bank transfers) and collection agencies. The workflow engine also automates payment notifications to customers.

At the core of the platform is the no-code workflow engine, where authorized employees (e.g., product managers, claims managers, marketing managers) can define both dynamic workflows that trigger when specific conditions are met, as well as static workflows for handling one-off tasks, such as modifying policy terms.

No-Code Workflow Engine

Access Management