The Hidden Costs of Legacy Insurance Software for Mutuals & Insurers

Outdated insurance systems aren’t just inefficient. They’re holding your business back. Mutuals and insurers relying on legacy insurance platforms face a range of operational and strategic challenges that impact growth, agility, and customer satisfaction.

Here are the most common pain points:

• Manual processes which cause delays and negatively impact customer satisfaction.
• Fragmented systems which create duplicate work and incomplete data.
• Inability to easily update products, impacting responsiveness to market and profitability.
• Inefficient claims management, leading to delays and frustration for clients.
• Limited broker portals creating a poor experience for broker partners.
• Cumbersome reporting and analytics thanks to fragmented, incomplete data.
• Poor integration resulting in siloed systems and data, limiting digital transformation.
• Slow time to market when launching new products due to rigid architecture and reliance on developers or third party vendors.
• Limited customer self-service at a time when customers are demanding digital solutions.
• Inability to scale, leading to performance issues and operational bottlenecks.

These issues don’t just affect your internal team – they impact your customers, partners and your bottom line.

Empower your entire operation with a single platform. 

Our comprehensive insurance software is purpose-built for insurance companies and mutuals of all sizes. With nine fully integrated modules, Modular Solutions enables you to manage your entire operation including product build and design, policy administration, claims, broker portals, capacity, reporting and more through a single, intuitive platform. Designed by insurance professionals and technology experts, Modular Solutions enables insurers and mutuals to innovate and thrive in a competitive market.  

 

Our nine modules work seamlessly together to support every aspect of your insurance operations: 

• Policy Administration – Our software for insurers and mutals enables you to manage the full policy lifecycle including quote, bind, issue, proposal, endorsements, cancellations, renewals, reinstatements and more. You have full control over document design and automation makes document issuance and delivery easy. Manage your policyholders, underwriting and day-to-day work in the Policy Module.
• Claims Management – Manage the entire claims process from the first notice of loss to settlement, including submitting a loss notice, assigning to adjusters, updating reserves, tracking claims financials, and ensuring renewals are rated with updated claims information.
• Broker Portal – Offer your broker partners a modern, industry-leading portal where they can submit claims, make policy inquiries, manage customer payments and access documentation. They’ll be empowered to efficiently serve their clients and distribute your product.
• Direct-to-Consumer – Offer a fully-branded online quoting, payment and policy issuance experience to consumers.
• Reporting & Analytics – Our insurance software gives mutuals and insurers full access to their data. Leverage your data and generate actionable insights with a suite of reports and dashboards including sales, operations, finance, claims, reinsurance and underwriting.
• Financials – Track your receivables and payables; oversee and streamline processes for your accounting team; automate your finance functions including payment processing and premium financing; and integrate with leading accounting software to keep all financials organized. 

Learn More About the Features & Functionality

The Modular Solutions Advantage 

Modular Solutions is a next-generation insurance software platform designed for mutuals and insurers to eliminate the pain points of legacy systems. Our platform delivers the flexibility, power, and ease-of-use you need to thrive in a competitive market. 

• Fully Integrated – Not only does the Modular Solutions software have seamless integration between its modules, we offer ready-made API integrations through our Solutions Exchange. Plus, we can do custom development to connect to other third parties (as long as they offer an API connection).  
• Handles All Lines of Business – Our platform handles all P&C lines of business including personal, commercial, farm, and specialty lines. 
• Configurable – No two insurers or mutuals are the same. That’s why Modular Solutions is built to be highly configurable. Tailor documents, underwriting guidelines, rules, rating, branding, interfaces and more to your company’s needs – without any coding required.
• Scalable – As your business grows, our platform scales with you. Whether you’re managing a single line of business or expanding into new markets, Modular Solutions adapts to your needs. 
• Handles Complexities – We provide the features and functionalities to handle complexities in products, underwriting, and subscriptions. 
• Clear Implementation – Offering a manageable implementation timeline providing speed to market and low total cost of ownership. We have a 100% successful implementation rate!
• Responsive – No code means your team can build and adjust products quickly as you need to, improving responsiveness to the market. 
• Affordable – We believe powerful insurance software shouldn’t come with a hefty price tag. Modular Solutions offers cost-effective pricing without compromising on features or performance. 
• Secure – Security is at the core of our platform. With enterprise-grade encryption, role-based access controls, and full compliance with industry standards, your data—and your customers’ data—is always protected. 
• All-In-One – Between the Modular Solutions platform and API connectivity, you can run your business in one place. 

Trusted by Mutuals & Insurers

Overall, our insurance company and mutual clients have benefitted from: 

• Reduction in manual renewals 
• Improvement in data accuracy and reporting access 
• Increased automation and accuracy 
• Improved customer satisfaction through faster service 
• Lower total cost of ownership compared to legacy systems 
• Improved broker partner relationships 

One client reports:

“We converted our policy management software to Modular Solutions in April 2024. Since then, we have experienced a 35% increase in underwriting efficiency and a higher degree of data validation. Their ability to create digital connections with other industry partners allows us to streamline processes which in turn, serves the people we exist for, our policy holders.  

Modular allows configuration and control over our products and rating through their Product Module. This is a game changer as we expand our product offerings and grow our business. How they respond to our requests and their accessibility is extraordinary in this age of software providers.” – Jen Harder, Innovation & Operations, My Mutual Insurance

Read Our Testimonials

Ready to see Modular Solutions in action?

Don’t let outdated software hold your organization back. Discover how Modular Solutions can help you streamline operations, reduce costs, and deliver exceptional service. Schedule your personalized demo today and see why Modular Solutions is the preferred software for mutuals and insurers. 

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Frequently Asked Questions About Insurance Software for Mutuals & Insurers

What is the best insurance software for mutuals and insurers?

We’re biased, but we do truly think Modular Solutions is the best insurance software for mutuals and insurers. Why?

• We’re affordable.
• Our platform is completely configurable without any coding required.
• We’re scalable.
• Our platform is secure.
• We provide an exceptional user experience with easy-to-use interfaces.
• We provide an industry-leading broker portal.
• You can offer direct-to-consumer distribution through our platform that enables online quote-bind-issue to clients directly.
• You can update your products, documents, workflows and more without relying on a third party vendor or developers which greatly enhances your responsiveness and speed-to-market.
• We are completely integrated, offering API connectivity to third party platforms.
• You have full access to your data along with a suite of reports.
• Our team has a 100% success rate for implementations and can get you live on our platform quickly.

How does Modular Solutions compare to legacy systems?

You’ll notice a real difference in our user-friendly interfaces, automated workflows and processes, and full configurability without any coding. Get a demo and see for yourself!

Can Modular Solutions handle all P&C lines of business?

Yes, we can handle all lines of business including very complex products.

• All personal property
• All personal auto
• Personal recreational property and auto
• Commercial general liability, equipment breakdown, and property
• Farm, livestock, and Hutterite colonies
• Equipment, machinery, and business interruption
• Retail, office, contractor packages
• Course of Construction
• Cyber
• E&O/professional liability
• D&O
• Association program business
• Creditor, warranty, replacement
• Hole-in-One
• Special Events
• Participant
• Travel
• And more

We currently work with over 160 product types including extremely complex commercial and farm products. Our Product Module is designed to have the functionality to support all product lines.

What third party integrations are available?

Our Solutions Exchange includes pre-built API connections for a variety of third parties, including premium financing, payment processing, evaluators, sanctioning, accounting software and more. Please check out our Solutions Exchange for more details. Our library is always growing!

We can also do custom API connections for third parties not listed in our Solutions Exchange, provided they have API connectivity and documentation.

How long does it take to implement the Modular Solutions insurance software?

It will depend on the size of your insurance company or mutual, as well as the number and complexity of your products, how many internal resources you have assigned to the project, and other similar factors. Generally, we aim to get clients live on the platform in 12 – 18 months.

Is there any coding required to make product updates or changes in the system?

No, no coding is required to update your products or even build new ones. Our platform is completely configurable. Your team is empowered to make changes yourselves – but we’re always here to support, if needed.

What kind of reporting and analytics does your insurance software for mutuals and insurers offer?

Our platform gives you full 24/7 access to your data. We have a suite of pre-built reports and dashboards; we can build custom reports or integrate with Power BI or the data warehouse if you want to further dig into your data or bring in other data sources.

Is Modular Solutions cost-effective for small mutuals and growing insurers?

Yes, absolutely. We’ve done our best to keep things affordable for our clients. Implementation is a fraction of the cost of building software in-house or going with an enterprise competitor. Our costs are very predictable as after implementation we shift to an all-inclusive subscription model. Please contact us for full pricing details.