Beyontec is a privately held company. Our founders come from the insurance industry. Each of them has more than 20 years of hands-on experience working with all types of insurance organizations and Insurance Brokers.
We spent three years developing the Beyontec Suite before we offered it to a single customer. We anticipated the independence and self-sufficiency our customers want, and we built it in, making the Suite easily configurable enough that our customers can do what they want, when they want. We fulfilled their business needs in our programming. We accommodate their operational needs by enabling them to flexibly configure the Suite to suit their preferences and their processes, without having to wait for or rely on us or their IT departments to get documents and products in production.
And we developed the Beyontec Suite without a sponsoring insurance company. We retained objective independence, considering the needs of the entire industry, rather than the specific needs or the driving influence of any one company. And we built a product with tools that enable our customers retain that same objective independence. We deliver the product with a set of configuration tools intuitive enough that non-IT people can manage the changes required as their products change to meet competitive or regulatory challenges. We stand ready to give our customers all the help they need. But we’ll never try to give them more help than they want.
Browse the items below to find the ways in which we’re making news — with new customers, new product developments, new lines of business, and more.
Meet us at the upcoming NAMIC’S 124th Annual Convention, to be held between Sep 22 – 25, 2019 at National Harbor, MD. This year NAMIC Annual Convention focuses on educating the reinsurers, brokers, rating agencies and other mutual insurance constituents on emerging technologies impacting their business. Visit the Beyontec booth # 222 and hear our experts talk about real ways to transform mutual insurance business using digital technology. We will be demonstrating our core solution – the Beyontec Suite, our unique accelerators, and several pre-configured automation solutions.
For more information about NAMIC, visit https://www.namic.org/edu/convention
Braxtone Partners Beyontec
Beyontec Solutions recently entered into a strategic partnership with Braxtone to offer a comprehensive automated motor claims recovery solution to address the claims recovery challenges faced by the insurance industry in Bahrain and the United Arab Emirates. This portal solution will help in streamlining intra-company claims recovery process and make the process transparent, efficient and reliable for insurers in the region.
Click here to learn more about the partnership.
OESAI Conference, Rwanda
Beyontec is pleased to be participating at the 42nd OESAI conference in Kigali, Rwanda to be held on the 25th to the 28th August, 2019. Beyontec will showcase its digital offerings including the core solution – the Beyontec Suite, the accelerator solutions and its pre-configured automation solutions. Beyontec’s participation at the conference will present a unique opportunity for African insurers to get a ringside view of how to approach digital transformation.
Beyontec Partners with AJMS Global
Beyontec Solutions and AJMS, a leading accounting, tax and governance, risk & compliance (GRC) consulting firm, have entered into a strategic partnership to develop a comprehensive IFRS 17 solution for the Middle East and African insurance industries.
Once developed, this new product can be implemented across General and Life Insurance companies and will have IFRS 17 capabilities across finance and actuarial systems. It will connect data, systems and process environment between finance and actuarial with the ability to meet future accounting challenges.
Click here to learn more about the partnership.
Motor Best Practices 2019 Seminar
Beyontec will be participating as a speaker and will launch its revolutionary solution – Claims Recovery Platform during the Motor Best Practices 2019 seminar on 26th & 27th June 2019 at Stella Di Mare Hotel, Dubai Marina, Dubai. A centralised platform for insurers to digitize and automate the claims recovery process, this industry-first solution will shrink the processing time while ensuring absolute transparency and compliance between insurers.
Gulf Insurance Group – Kuwait (gig-Kuwait) Selects Beyontec Suite to Drive Digital Operations across general life and group life lines of business. Implementing Beyontec Suite with its fully integrated modules across underwriting, claims, billing, re-insurance, accounting, and queries will enable Gig-Kuwait to elevate its operations to become truly digital while enhancing overall customer experience.
Click here to read the complete press release.
Below are some of our most frequently asked questions and our answers. To ask a question not covered here, please use the link provided and you will receive an answer quickly.
We’re using an old system today that works pretty well. Why should I consider a new one?
Maybe you don’t need to. But beyond today, are you prepared for the future? Are you staying ahead of your competitors? Is your expense ratio rising? Can you respond to market opportunities and competitive threats efficiently and cost-effectively? If so, and if your answer will be the same a year from now, you might be okay.
My current vendor has to perform all of my maintenance work and product configurations. It’s costly and time-consuming. What makes the Beyontec Suite different, and why should I expect a different experience?
The difference is in the flexible configurability of the Suite. We’ll train and equip you to make the changes you need — to rates, algorithms, forms, print packages, reports, screen presentations and contents, adding or amending underwriting questions, input fields, and more — using the configuration tools in the Suite. We’re always there to help in any way, but our goal is to make you as independent as possible. Request a demo today to see what we mean.
The soft market hurt us, and we can’t afford unnecessary costs. Why are we even talking?
You can mitigate your risks in a soft market by reducing your expenses. Our underwriting rules limit the number of touches required on new business, allowing you to do more with fewer people. Giving agents and policyholders self-service access through portals is another way of reducing costs. Keeping your rates current and implementing new rates as soon as they’re approved helps control risk and cost, too. With the Beyontec Suite, you can do all those things yourself, in minutes.
Our IT infrastructure is old. Do we need to replace it to use the Beyontec Suite?
You don’t need any equipment other than PCs with browsers. Since the software is delivered from the cloud, you don’t need to invest in hardware or the personnel to keep it running.
We want to sell direct to consumers, but our current software doesn’t let us to do so effectively. Can the Beyontec Suite help?
The Beyontec Suite builds in a D2C Portal as part of the base system. It has all the functionality and security you need to offer your products direct to consumers.
Market conditions are forcing us to look at offering new products in new states. Is the Beyontec Suite limited in those capacities?
In a word, no. We pre-developed most of the products you might want to offer. The rest you can configure. And there are no geographical limitations at all. We considered coverages and state-specific idiosyncrasies as we built the Suite. It can be configured for almost any product, including specialty lines.
What options do you offer for running the Beyontec Suite? Does it have to be run in our IT shop?
No, you can run it in-house if you like. But we offer it from the cloud. And we’re willing to work with most third-party hosting services (as long as they meet security standards). We’ll help you choose the best option for your specific situation.
I’ve seen configure and configurable a number of times on your website. What do they mean?
Configurable refers to work that can be done or changes that can be made to the software by you with the tools and training we provide. The code doesn’t need to be touched. You can make the changes yourself, at your speed, without additional cost.
While the benefits of self-sufficiency are obvious, how do we get to the point where we’re comfortable with the system? What if we have don’t have the time, appetite, or personnel to be totally independent?
Our goal is to make you as independent as you want to be. We’ll never leave you alone. But we’ll never do work you’d rather do yourself. We’ll give you customized user manuals, specific to your company and your product lines. We’ll take you through product set-up and train you to use the configuration tools that come with the system. If you don’t want to do any of that, we’ll do perform the maintenance and make the changes you request on a T&M basis. If you’re working independently and reach a point at which demands are too great or there’s something you’d rather not do, we’ll provide the resources you need to do what needs to be done. Since you control the assistance you need, you also control your costs.
After we’ve agreed to use the Beyontec Suite, what’s the next step?
We collected a good deal of information about your business practices and processes to prepare a custom demo for you. Now we need the details so we can deliver a product that looks like you want it to, with your rates, rules and forms, and workflows. We’ll send a team of people to your location for a period of time (varies on the number of products, states, complexity) to conduct a Business Process Study and to become a partner in the successful implementation of the Suite.
Since the Beyontec Suite has a claims module, do we have to give up our current claims platform?
No. We’ll interface with any of your existing software. We want you to make the best decision for your business. We’ll need to understand the product with which we’re interfacing. So, we’ll need staff support or solid documentation and a data map to ensure we can make the interface fully functional.
How do we get a demo of your product?
There are buttons on this site that say Request a Demo. Clicking the buttons will trigger an email request, and you’ll be contacted shortly thereafter. We like to have two hours for an initial demo, but we’ll work within the availability of your time.