NetSuite Insurance ERP

Unite financial, operational, and customer insights in a powerful ERP system for the insurance industry. Modernize processes, improve compliance, and gain instant visibility into revenue, expenses, and profitability.

What is Insurance ERP?

Insurance ERP aligns every part of an insurance business—from finance and billing to policy and customer management—on a single platform. This integration, along with external claims information, offers insurers a complete view of financial and operational performance, eliminating data silos and strengthening cross-department coordination. NetSuite redefines insurance ERP with a cloud native system that provides secure, anytime access to information, automated workflows, and continuous, real-time insights for insurers across underwriting, policy servicing, and accounting.

Gain agility across insurance operations

Policy and performance

NetSuite’s comprehensive ERP platform improves decision-making, enhances compliance, and helps insurance carriers, brokers, and agencies operate with speed, precision, and transparency.

NetSuite Insurance ERP features

NetSuite connects the core capabilities insurance organizations rely on to manage financials, policy operations, and customer relationships, with claims data flowing in from your existing claims management system. The result: greater accuracy, compliance, and responsiveness across the entire insurance value chain.

Accounting software

Consolidate general ledger, payables, receivables, and premium financials in one place. Gain detailed visibility into revenue, claims payouts, and commissions while maintaining compliance with insurance accounting standards.

Financial management

Automate billing, collections, and financial reporting to accelerate cash flow. Simplify premium invoicing, reconciliations, and close processes for real-time control over profitability and liquidity.

Global business management

Manage multiple entities, currencies, and product lines—life, health, and P&C—from one system. Centralized dashboards give executives a global view with the flexibility to drill down by region or line of business.

Customer and policy management

Link CRM and policy data for a complete view of every policyholder. Agents and brokers can track renewals, claims, and communications to provide personalized, timely service across channels.

Claims and policy-servicing integration

Connect policy administration and claims systems that feed financial data into NetSuite to simplify cross-department workflows. Shared data leads to faster settlements and more precise accounting of reserves and recoveries.

Commission management

Automate complex producer compensation structures. Track, calculate, and pay commissions accurately and on time for improved agent satisfaction.

Analytics and reporting

Track performance with live dashboards that spotlight premium trends, cash flow, and other key metrics. Built-in analytics let leaders act on data immediately rather than wait for manual reports.

Regulatory compliance and audit tools

Support accounting and financial reporting standards, such as IFRS 17 and GAAP, with automated controls, audit trails, and secure user permissions. Generate trustworthy regulatory reports directly from live financial data.

Human resources and operations

Manage payroll, expenses, and workforce data. Integrated HR tools increase operational efficiency, help control labor costs, and facilitate accurate financial reporting.

Learn how NetSuite Insurance ERP
lets you manage your business better

Free Product Tour

If you want a financial reporting tool that syncs up very well with your accounting system and has all these amazing capabilities to do month-end reporting as well as budgeting and forecasting … you're wasting time not implementing NetSuite Planning and Budgeting.

Daniel Ruettiger, CPA, Senior FP&A Accounting Associate, Highstreet Insurance Partners

NetSuite Insurance ERP benefits

Unified data visibility. Access a single source of truth across policies, claims, and financials to improve collaboration and eliminate duplicate data entry.
Operational efficiency. Automate repetitive tasks and connect departments to reduce manual work, minimize errors, and accelerate policy and claims cycles.
Regulatory confidence. Maintain compliance with evolving accounting and solvency standards using built-in audit trails and automated reporting.
Enhanced customer experience. Empower service teams with detailed customer histories, claims data, and renewal details to deliver faster, more personalized service.
Actionable insights. Leverage real-time analytics and dashboards to identify trends, optimize pricing, and make informed decisions across the business.
Scalability and growth. Expand into new lines of business, entities, or markets with a flexible cloud platform that grows with your insurance organization.

Challenges NetSuite Insurance ERP solves

Disconnected legacy systems. Consolidate disparate policy, claims, and finance systems into one cohesive cloud platform.
Manual, error-prone processes. Automation replaces spreadsheets and rekeyed data, reducing errors and accelerating workflows.
Compliance complexity. Centralized data and reporting simplify IFRS 17 and regulatory audits, reducing compliance costs and risks.
Limited visibility. Live dashboard data highlights insurance performance trends, risk exposures, and financial health at a glance.
Slow product innovation. Launch new policy products or entities without adding new systems or custom code.
High operational costs. Cloud deployment cuts IT overhead and system maintenance costs while increasing productivity enterprisewide.

SuiteSuccess – Your proven path to success

Leveraging more than 25 years of experience working with tens of thousands of organizations, across all industries and business sizes, our SuiteSuccess customer lifecycle methodology helps customers transform their business. It starts by building an AI-powered, integrated business suite with industry-specific solutions. Then we engage with your business to ensure that we’re addressing your specific needs and guiding you along the way on how to best consume and optimize NetSuite to solve challenges of today and the future. This approach helps ensure customers experience faster time-to-value, better ROI, and greater employee adoption.

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How much does NetSuite Insurance ERP cost?

Companies of every size, from prerevenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?

Users subscribe to NetSuite for an annual fee. Your license is made up of three main components: core platform, optional modules, and number of users. There is also a one-time implementation fee for initial setup. As your business grows, you can easily activate new modules and add users—that’s the beauty of cloud software.

NetSuite Insurance ERP Software is available as an add-on module.

Contact NetSuite Now

Resources

Data sheets

Access specifications, features and benefits of NetSuite Insurance ERP.

Customer stories

Spark ideas with success stories from NetSuite customers.

Highstreet Insurance Manages Acquisition-Fueled Growth With NetSuite

Product demos

See NetSuite Insurance ERP in action.

Essential learning

Discover best practices and learn more about business fundamentals from beginner to advanced levels.

Please note that some capabilities described on the page require partner integrations.