KGiSL

What Is KGiSL?

KGiSL develops insurance software for life, general, conventional, and takaful insurers. Its portfolio includes products for policy administration, claims management, policy issuance, pricing, financial operations, and reinsurance. These products support the policy lifecycle and enable organizations to configure workflows, business rules, and deployments according to operational requirements. Beyond insurance, KGiSL also develops solutions for capital markets and wealth management.

What Is KGiSL Best For?

Takaful solution is KGiSL's standout product, making it best suited for insurers and takaful providers that require Shariah-compliant insurance operations. It supports various takaful models while incorporating compliance requirements under International Financial Reporting Standard 17 (IFRS 17). As a result, organizations can calculate and track the Contractual Service Margin (CSM) alongside takaful operations within the same platform.

How Much Does KGiSL Cost?

Subscription costs typically begin around $3,000 – $5,000/month. The company provides custom quotations based on factors such as the selected products, deployment scope, implementation requirements, integrations, and customization needs. Beyond this, organizations should also account for the following costs when estimating the total cost of ownership:

• Implementation And Initial Setup: Typically ranges from $10,000 – $150,000+, depending on deployment complexity, system configuration, and implementation scope
• Customization And Configuration: May cost approximately $5,000 – $50,000+, based on workflow customization, business rules, and regional or regulatory requirements
• Data Migration: Generally ranges from $5,000 – $30,000, depending on the volume and complexity of legacy data being transferred
• User Training And Onboarding: Typically costs $2,000 – $10,000, depending on the number of users and the level of training required
• Third-Party Integrations: Can range between $5,000 – $40,000+, depending on the number and complexity of integrations with external systems
• Annual Support And Maintenance: Typically estimated at 15% – 20% of the annual software license cost, depending on the selected support agreement
• Additional Product Modules: Products or modules may be priced separately, with additional costs varying according to the selected functionality and deployment requirements

Disclaimer: The Pricing references are based on publicly available third-party information and industry benchmarks. Actual costs may vary.

KGiSL Integrations

KGiSL supports integration with a range of third-party and enterprise systems across its product lines. Reported integration capabilities include:

• Oracle WebLogic Server
• Oracle SOA Suite
• IBM WebSphere Application Server
• IBM WebSphere MQ
• WSo2
• NodeJS

How Does KGiSL Work?

Here is how KGiSL products are typically implemented and used:

• Review KGiSL price and select the appropriate insurance product based on your organization's policy administration, claims, pricing, distribution, or reinsurance requirements
• Work with KGiSL's implementation team to configure the software according to organizational processes, regulatory requirements, and business workflows
• Integrate the platform with existing enterprise applications and third-party systems where required
• Configure user roles and permissions to manage access across departments and business functions
• Begin managing day-to-day operations through the relevant product modules, such as policy administration, claims processing, brokerage operations, or wealth management
• Monitor business activities using built-in dashboards, reports, and analytics to track operational performance
• Add products or modules as organizational requirements expand or new business functions are introduced
• Maintain and optimize the deployment with ongoing support, updates, and system enhancements from KGiSL

Who Is KGiSL For?

KGiSL is designed for insurance companies of various sizes, particularly those managing policy administration, claims, pricing, reinsurance, and insurance distribution. It is commonly used by the following teams:

• Policy administration teams
• Claims management teams
• Underwriting teams
• Insurance finance teams
• Insurance distribution and sales teams
• Compliance and risk management teams

KGiSL Use Cases

Based on KGiSL's product portfolio, we identified the following key scenarios where its solutions can support financial institutions:

Claims Teams Reducing Manual Claim Handling

Large claim volumes often require adjusters to move information between emails, spreadsheets, and claims applications before case settlement. NSure Claims centralizes claim information and processing activities, which claims professionals say reduces the time spent coordinating updates and allows them to resolve more claims in less time.

Policy Administration Teams Managing The Insurance Lifecycle

Managing policy issuance, endorsements, renewals, and cancellations across separate systems can slow policy servicing and increase administrative effort. NSure Core consolidates these activities through configurable workflows, helping insurers manage policy administration more consistently throughout the policy lifecycle.

Product Managers Launching New Insurance Products

Introducing a new insurance product or revising premium rates often requires IT-led configuration changes, which can delay product launches. However, users report that with the NSure Pricing Engine, pricing rules can be modified quickly. As a result, insurers can introduce pricing updates quickly when business requirements change.

Reinsurance Managers Monitoring Risk Exposure

As policy portfolios expand, tracking treaty limits, retention levels, and facultative arrangements becomes increasingly difficult through spreadsheets alone. One of the KGiSL features, Reinsurance supports policy-level risk evaluation with analytics and integrated data, making reinsurance exposure available for review before underwriting decisions are finalized.

Is KGiSL Right For You?

Insurance organizations looking to modernize customer engagement may consider KGiSL's digital solutions to manage policyholder and agent interactions through a connected platform. This connected approach reduces manual handoffs across customer-facing processes by centralizing interactions within a single platform.

Managing policy sales across agents, brokers, and bancassurance partners often requires distribution teams to coordinate quotations, policy issuance, commissions, and customer onboarding through separate processes. Organizations with this distribution model may consider KGiSL's Channel Portal if they want to give distribution partners direct access to policy sales activities through a single workspace.

Still have doubts about investing in the KGiSL software? Contact us at (661) 384-7070, and we will clear up any doubts to help you make an informed decision.