MGIS will implement Wynsure v4.7 policy administration platform from MphasiS-Wydes, with an aim to modernize the experience for brokers and clients.
MphasiS-Wyde will also offer consultation on industry standard and best practices for business process and technology combination to MGIS, the underwriter said.
MGIS offers coverage for physicians and staff with medical professional liability and group employee benefits products, through highly qualified brokers who help their physician clients choose and understand the unique features of specialized, built-for-physician insurance products, claims the insurer.
Commenting on the deployment of the new insurance platform, MGIS president Jeffrey Brunken said, "In today’s environment it is critical to be able to launch new products quickly, offer real time portal inquiry and transactions and consolidate all of our lines of business and processes on a single platform."
The Wynsure v4.7 will support lines of insurance including group, individual life and workplace enrolment insurance on a single integrated platform line of insurance such as group, individual life and workplace enrolment insurance on a single integrated platform.
It will enable the firm to cut turn-around time in bringing new products to the market and provide technical solutions to their brokers and clients.
According to the solution provider, Wynsure is a multi-language, multi-currency, easily customizable software product that offers policy administration, claims and billing solutions across Life & Annuities (L&A), disability, health, and Property & Casualty (P&C).