Product Lifecycle Support 

Central repository for managing information on individuals and legal entities subject to processes

• Comprehensive Scope – manage all key data on customers, beneficiaries, insurers, agents, brokers, service providers, etc.
• Single Source – register, modify and retrieve data from one central source
• Uniqueness – maintain the uniqueness of core data across multiple policies, and avoid duplication
• Flexibility – include any new important data via user-defined parameters
• 360 Degree View – holistic view of a customer's policies, quotes, applications, claims, premiums, etc.
• Automatic Validation – reduce errors and help reduce fraud by automatically identifying insured persons with specific contracts, insured objects and claims
• CRM Integration – ability to expose customer data via web services for presentation in the business' central CRM system
• Third-Party Providers – specialized sub-system for managing information on claims service providers (e.g. for motor and health claims), including the registration of associated contracts, services, spare parts and prices

A module providing product lifecycle support across quotations, underwriting, alterations and renewals:

• Quote and Apply – new business quotations, registration, premium calculations, conversion to applications
• Back or Front-End – Quotations initiated in either the Policy Administration module or in the customer/agent front-end Quote and Apply system
• Rules Integration – with INSIS Rule Engine for premium calculation, where complex rating factors, loadings, discounts, etc. are configured
• Versioning Support – full support of quote versioning, forward communication, and automatic acceptance / rejection
• Underwriting Input – feeds into underwriting workflow with specified conditions, application data across risks, covers, limits, discounts, etc., supporting documentation, and subsequent conversion of application to a policy
• BPM Integration – underwriting process integration with the INSIS BPM module, which defines the operations as workflow tasks with assignment criteria
• Amendments – comprehensive support of policy alterations, annexes and out-of-sequence modifications
• Automatic Renewals – based on user-defined qualification criteria
• Group Insurance – full support of group insurance, including employer billing and member billing, bulk handling of member data and policy alterations; fleet insurance and open-cover and declaration-based policies
• Usage-Based Policies – supported through special data structures for registering data from connected devices, e.g. for motor insurance telematics, enabling premium adjustments based on updated risk scores
• Life Actuarial Calculations – for life assurance policies with a savings components, e.g. endowment and unit-linked policies, INSIS's Life Maths module creates and maintains a savings or investments account and uses actuarial formulas to calculate reserves, surrender values, bonuses, etc.

A specialized sub-system that manages all the financial interactions between INSIS and external financial systems, e.g. general ledger, accounts payable and receivable, banks, payments operators, collectors, etc.

• Accounts and Agreements – define party roles, e.g. policyholder, agents, insurer, etc., associated billing parameters and related agreements that determine transactions
• Bills – manage billing items for policies, claims, commissions, etc. and automate billing runs
• Installments – accumulate financial requests from all relevant INSIS operational modules, and manage receivable and payment requests including with dunning control
• Payments – create, allocate and re-allocate payments relating to bank transfers, cheques, direct debits, point-of-sale terminal payments and cash. Manage confirmations, clearings and rejections, as well as overdue payments with dunning control
• Accounting – register and process sub-ledger events, and use INSIS' Accounting Engine and Translation Rules to convert events into accounting statements for one set of books
• Notifications – issue reminders, cancellations, policy suspensions, etc.
• Statements – process bank statements for insurance-related operations

A module providing a uniform approach to processing claims across any line of business.

• PAS Integration – pre-integrated with the INSIS Policy Administration module for automatic retrieval of contracted policy conditions
• Comprehensive Processes – from first notice of loss (FNOL) to claims settlement and subrogation
• FNOL Management – can be administered in the Claims module or Customer Portal, as well as across mobile devices and agent/partner applications
• Claims Settlement Control – with reference to in-force limits and conditions, minimizing the risk of claims payment errors, with full support of document collection, damage evaluation, indemnity calculation, payment request and claims expense calculations
• BPM Integration – using pre-defined operational context variables to determine the appropriate claims settlement process, e.g. involving a claims adjustor, approval escalation or specific approval path based on business requirements
• Claims Adjustor Desktop – screens specifically designed for claims adjustment, with ability to review and modify claims data at each stage
• General Ledger integration – the Claims module can be easily integrated with the firm's general ledger for recording aggregate loss reserves and other key data
• Claims Types – full support of cash value claims based on maturity, surrenders, partial withdrawals and annuity calculations
• Third-Party Payments – support of service claims involving payments from health and other service providers directly to policyholders

A module that supports the full automatic processing of reinsurance operations.

• PAS and Claims Integration – pre-integrated with INSIS' Policy Administration and Claims modules, allowing for automatic matching of a policy to reinsurance arrangements
• Comprehensive Scope – facultative and treaty, on a proportional basis (e.g. quota share and surplus share), a non-proportional basis (e.g. catastrophe and risk excess of loss, stop loss), and for programmes combining different types, including also co-insurance plans and fronting arrangements
• Full Transactions – automatic management of ceded premiums, losses, reserves, reinstatements and subrogation, aligned with associated underlying policies
• Dedicated UI – a bespoke user interface to define all reinsurance arrangements, including direct business covered, treaty layers, adjustment rates, reinsurers, reinstatements, etc.

An INSIS module that calculates agent commissions, both basic and overriding.

• Flexible Definition – commission calculations can be flexibly defined by product, cover, agent, policy, period, business type, geography, etc. in the INSIS Rule Engine
• Special Arrangements – support of special agreements with individual agents or brokers
• Overriding Commissions – remuneration calculations based on premium volume generated by agents in a specified geography