Average Ratings 0 Ratings
Average Ratings 0 Ratings
Description
Facio delivers AI-driven software infrastructure tailored for specialty insurance entities, including Managing General Agents (MGAs). Our innovative platform, FacioMGA, caters to the entire policy lifecycle, encompassing submission intake, risk classification, underwriting, quoting, binding, policy issuance, endorsements, billing, commissions, compliance, reporting, renewals, and integrations. Clients can customize products, rating rules, eligibility standards, workflows, documents, and permissions without the need to overhaul technology for each individual program. Additionally, Facio provides independent solutions for surplus-lines tax and fee computation, SIC/NAICS classification, sanctions screening, actuarial tasks, and automated workflows for carrier declinations. Our Org2vec technology establishes a memory backed by evidence, linking policies, contracts, financial records, assets, suppliers, cybersecurity frameworks, and operational data. Meanwhile, Facio Eigen introduces a zero-trust control framework that enforces permissions, rules, approvals, and audit trails for AI-enhanced decisions and actions. By leveraging these advanced technologies, we empower organizations to streamline their operations and enhance compliance.
Description
Practo Insura is an innovative modular platform for property and casualty insurance, designed to manage the entire policy, billing, and claims lifecycle for insurers, managing general agents, and reinsurers. By utilizing this platform, teams can expedite the launch of new insurance products, upgrade outdated processes, ensure compliance across different states, and minimize manual tasks while alleviating operational barriers.
Key functionalities of Practo Insura include:
• Comprehensive policy administration covering everything from issuance to renewal
• Efficient billing and payment processes, including premium billing and collections
• Integrated claims management that streamlines the entire process from first notice of loss to final settlement
• Advanced rating engine and quote management features
• User-friendly portal for insured individuals and a consumer point of sale interface
• A dedicated agent portal equipped with quote-to-bind functionalities
• Robust compliance and filing workflows to facilitate state expansion and governance of rates/forms
• Detailed reporting and operational analytics capabilities
This platform not only enhances operational efficiency but also empowers insurance professionals to focus on delivering exceptional customer service.
API Access
Has API
No
API Access
Has API
No
Screenshots View All
No images available
Integrations
No details available.
Integrations
No details available.
Pricing Details
$65/mo./user + cloud
Free Trial
Yes
Free Version
No
Pricing Details
$50,000/year
Free Trial
No
Free Version
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Deployment
Web-Based
Yes
On-Premises
Yes
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Customer Support
Business Hours
Yes
Live Rep (24/7)
No
Online Support
Yes
Customer Support
Business Hours
Yes
Live Rep (24/7)
No
Online Support
Yes
Types of Training
Training Docs
No
Webinars
No
Live Training (Online)
Yes
In Person
No
Types of Training
Training Docs
Yes
Webinars
Yes
Live Training (Online)
Yes
In Person
Yes
Vendor Details
Company Name
Facio
Founded
1600
Country
United States
Website
www.facio.io
Vendor Details
Company Name
Practo Insura
Founded
2023
Country
Austin, Texas, USA
Website
practoinsura.com
Product Features
Product Features
P&C Insurance
Billing & Invoicing
Yes
Broker / Agent Portal
Yes
Claims Management
Yes
Commission Management
Yes
Customer Portal
Yes
Document Management
Yes
Insurance Rating
Yes
Marketing Automation
No
Policy Management
Yes
Quote Management
Yes
Reinsurance Administration
Yes
Underwriting Management
Yes