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What is Practo Insura?

Practo Insura is a cutting-edge modular platform tailored for property and casualty insurance, enabling insurers, managing general agents, and reinsurers to oversee the full lifecycle of policies, billing, and claims. This platform allows teams to quickly introduce new insurance offerings, modernize legacy processes, maintain compliance across various states, and reduce manual interventions while overcoming operational challenges. The key features of Practo Insura encompass: • Extensive policy administration that spans from issuance to renewal • Streamlined billing and payment systems, which cover premium billing and collections • Integrated claims management that simplifies the entire journey from the initial notice of loss to final resolution • Sophisticated rating engine and quote management capabilities • An intuitive portal for insured clients paired with a consumer-facing point of sale interface • A specialized agent portal that includes quote-to-bind functionalities • Comprehensive compliance and filing workflows to support state expansion and regulation of rates/forms • In-depth reporting and operational analytics tools This platform not only boosts operational efficiency but also enables insurance professionals to prioritize providing outstanding customer service, ultimately leading to improved client satisfaction and loyalty.

What is Pace?

Pace functions as a platform driven by artificial intelligence, specifically designed for the insurance sector, which supports the creation, implementation, and management of agents that streamline various operational workflows. It includes a range of capabilities such as processing submissions, managing policies, handling claims, ensuring quality control, initiating first notices of loss (FNOL), generating certificates, executing endorsements, and performing data entry. These agents are adept at understanding procedures, extracting pertinent information from insurance documents, and facilitating communication through phone calls, emails, and text messages, while also interacting with APIs, web portals, desktop programs, and older systems. The platform boasts features that enhance workflow organization, provide human oversight for sensitive tasks, and maintain thorough audit trails to uphold accountability throughout processes. The agent-building utility known as Tempo within Pace empowers teams in insurance operations to describe procedures in straightforward language and to create and improve agents based on sample cases as standards. Targeting carriers, brokers, managing general agents, third-party administrators, and wholesalers, Pace aims to optimize and automate both back-office and customer service tasks, ultimately improving operational efficiency. By utilizing Pace, insurance companies are positioned to markedly decrease manual labor and elevate the quality of service delivered to their clientele, fostering a more effective operational environment. This innovative approach not only enhances productivity but also supports the transformation of industry standards in service delivery.

Media

Media

Integrations Supported

Integrations Supported

Guidewire

API Availability

API Availability

Pricing Information

$50,000/year

Pricing Information

Pricing not provided

Supported Platforms

SaaS
On-Prem

Supported Platforms

SaaS

Customer Service / Support

Standard Support
Web-Based Support

Customer Service / Support

Not specified

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub

Company Facts

Organization Name

Practo Insura

Date Founded

2023

Company Location

Austin, Texas, USA

Company Website

practoinsura.com

Company Facts

Organization Name

Pace

Date Founded

2024

Company Location

United States

Company Website

withpace.com

Categories and Features

P&C Insurance

Billing & Invoicing
Broker / Agent Portal
Claims Management
Commission Management
Customer Portal
Document Management
Insurance Rating
Policy Management
Quote Management
Reinsurance Administration
Underwriting Management

Categories and Features

AI Insurance

Not specified

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