Finance, Claims, Contracts, and Customer Management – All in a Single Platform.
At Folio3, we have been serving the industry for around 20 years. Our clients are our major referrals because of the quality service we provide. We have 50+ Chartered Certified Accountants and 10+ solution architects who understand the financial and technical problems of the insurance industry. Whether you need to scale quickly or need a custom NetSuite solution to manage your business operations, we’ve got you covered.
The US non-life (P&C) insurance market saw an underwriting gain of US$9.3 billion in the first quarter of 2024, which was a substantial rebound from the US$8.5 billion loss in the same quarter the year before. This growth shows the fierce competition among this industry that is only growing.
NetSuite offers invaluable assistance to insurance companies, enhancing operational efficiency, fostering customer trust, and enabling you to stay on par with leading companies already extracting the advantages of CRM systems.
Simplify your particular financial operations and procedures, including cash and payment management, accounts payable, accounts receivable, general ledger, and tax management.
Enhance transaction reporting by gathering disparate electronic records and completing laborious paper tasks.
Enhancing revenue recognition procedures for your customized services and goods, removing billing problems, and increasing accuracy.
With an easy-to-use planning, budgeting, and forecasting solution, reduce cycle times, include business users, and improve your planning process.
Record any contract for a specific set of goods and services, including service contracts, under any revenue standard.
Excellent reporting skills that provide real-time financial modeling and analysis for all aspects of your business needs.
Insurance companies often face challenges in policy management, claims processing, regulatory compliance, cost optimization, and customer service. Folio3 integrates the existing systems of insurance companies with NetSuite modules to streamline operations, enhance efficiency, and ensure compliance with industry regulations.
From first contact to policy renewal, insurance businesses may efficiently manage client interactions with NetSuite’s CRM features. In a market that is extremely competitive, this is essential for customer satisfaction and retention.
For handling intricate insurance transactions, regulatory compliance, and reporting, NetSuite provides advanced financial management solutions that are needed. This covers managing revenue recognition, commissions, and reconciliations.
If your insurance company needs ERP implementation, integration with existing applications, or ERP customization, our NetSuite-certified consultants are here to help you. Your insurance company can have a comprehensive, personalized, and industry-specific solution for all its needs and pain points.
We offer post-deployment NetSuite managed services, including module implementations, workflow customizations, and bug fixes. Our specialized team provides personalized NetSuite support for any industry.
We offer an accelerated NetSuite ERP implementation process with functional support from Chartered Certified Accountants. In most cases, we achieved go-live in less than 70 days. However, the typical timeline is around 3 months. Complex integrations take around 6 to 8 months.
NetSuite ERP pricing includes an annual license fee. The implementation cost varies depending on the project’s complexity. If you’re interested in getting a quote specifically for your business needs, please contact our consultants.
Insurance companies often use software like Xactimate to estimate repair costs. NetSuite for insurance agencies can connect with these tools to make managing claims easier.
Billing software helps manage payments and claims. NetSuite includes billing features that simplify and streamline these processes.
Insurance software helps underwriters with tasks and organizing policy details. NetSuite automates these tasks and keeps everything in one place for better efficiency.
With over 300 NetSuite experts, 80+ ready-made integrations, and 20 years of experience, Folio3 ensures an easy and successful NetSuite setup. You’ll also get excellent support from our skilled team.
© 2025, Folio3 Software Inc. All rights reserved.
