Fully integrated policy administration including premium calculation, policy schedule, AC collection, full financial accounting including all insurer payment and commission bordereaux, debit and credit notes, claim/commission/refund EFT payments, document management and multi quoting facilities. There are 52 classes of business that are currently supported which can be combined in any fashion to create unique products.
SystemA's Claim Management enables you to automate and manage the entire claims process from first notification of loss and the capture of claims data to EFT claim payments and financial reporting. You have the functionally you need to maximise cash flow, optimise reserves, and ensure the efficient processing that results in lower operational and claims costs!
SystemA enables you to manage premium billing and receipting. All policy endorsements resulting in a “premium movement” are recorded at the insured item level across all classes of insurance. Traditional monthly statements and age analysis assist in managing large annual policies. SystemA supports all the major 3rd party premium collectors. Full financial accounting ensures all monies collected.
With SystemA’s Disbursements, you have closer control of all areas related to financials. Executive decision making is supported via real-time analysis allowing you to reduce leakage, improve controls and centrally manage and improve cash flow. SystemA supports broker, agent and sub-agent commission structures. In addition branches, recruiters, broker consultants and appointee assignments allow you to measure these critical aspects of your business.
SystemA’s Reinsurance covers facultative, facultative-obligatory, obligatory treaty types such as quota share, surplus and excess of loss. Policy movements and their corresponding reinsurance premiums are tracked alongside treaty periods aligned to policy inception and underwriting years. Treaty management encompasses all data for controlling settlements. Reinsurance premium bordereaux can incorporate claims recoveries ensuring the nett reinsurance premium is paid over to the reinsurers.
SystemA’s Financial Management provides a solution. This powerful application provides a keyless accounting structure and real-time access to data. You can manage not only individual accounts and processes, but also your overall business structure and organisation. In the case of cell captives SystemA provides full functionality required to manage funds, determine inner excesses and report on approaching “burn” limits.