MphasiS Wyde announces the release of Wynsure v5.0, a new version of the vendor's end-to-end multi-line insurance system that provides functionality to support group policies, an enhanced portal, and an improved user interface and experience. Wynsure is used by property & casualty, life, and health insurers in North America, Europe and Asia.

Version 5.0 supports payroll deduction for group contracts and individual policies sold at the worksite. It also supports guaranteed-issue products, personalized and standardized group benefit plans, and manages invoicing frequency including providing a consolidated invoice for three types of group products (individual, group and worksite).

Wynsure's CRM dedicated desktop allows users to find client information, start transactions from the client summary, and record customer contacts. The contract summary screen lets users view endorsement details, including endorsements in progress. Accounting screens have been simplified to show only financial transactions, which can be filtered by type. Underwriting process review has been simplified and made more user friendly.

“Wynsure's continued success in the group marketplace reflects both improvements in the system and the rapidly growing interest in core systems replacement by all types of group insurers,” said Chad Hersh, Managing Director of Novarica's insurance practice. “Regulatory and competitive changes make a modern, flexible core system with a low total cost of ownership more critical than ever.”

Its advanced portal, wPortal, lets users download and display all documents generated in the back office for claims, invoices, and policies. It also introduces improvements for administering group policies, including the ability to endorse group policies, terminate enrollments, submit a claim, and change the coverage beneficiary. History, accounting, claim notification also boast improved functionality. wPortal now supports portlets using the WSRP standard.

“Multi-channel, portal-based rich customer experiences for brokers, plan sponsors and participants around enrollment, billing, claims, and general service are critical for success in this market,” says Chuck Johnston, director of the Americas Life/Annuity & Group Practice at Celent.

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MphasiS Wyde Releases New Version of Wynsure Platform

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