| 1 |
Parameterize all kinds of Life
& Health Care products… |
| Product |
Parameterize different types of Group and Individual (or Family) products like, Level Term Insurance, Decreasing Term, Endowment, Whole Life, Personal Accident, Health Care, Education Plan, and Pension & Saving.
Create mono-line or multi-line plans such as saving products with death benefits or life term products with health care coverage. You can also maintain multiple product versions.
|
| 2 |
Create online quotation… |
| Quotation |
Allow your users and business partners to work through a browser front end to create and maintain quotes. You can also maintain multiple quotations on the same product for the same customer.
Transform accepted quotation to policy without reentering the data already captured at quote level.
|
| 3 |
Create and maintain policies for conventional or unit linked products… |
| New Business |
Issue back dated as well as forward dated group or individual (family) policies.
Apply of loading / discount at the benefit level and generate agent commission automatically.
Create policy with multiple owners,
insured's, addresses and agents.
Automatically print schedules and also possibly policy/contract wordings based on the benefits selected.
|
| 4 |
Add unlimited number of coinsurers… |
| Coinsurance |
Add coinsures’ details in case of group or individual contract with risk sharing either you’re the company leader or not. Choose if you want to raise total premiums and credit the participant companies’ accounts or to issue only your premiums share based on your participation percentage. The same rules apply in claim settlement. |
| 5 |
Generate financial endorsement with impact on premiums… |
| Financial Endorsements |
You can perform the following mid-term policy changes with impact on premium: Change of Sum Insured; Change of Date of Birth; Change of Occupational Category; Change of Rate; Add/Remove Member, etc.
You can also create your own new processes to handle other mid-term policy changes using |
| 6 |
Generate non-financial endorsement with no impact on premiums… |
| Non-Financial Endorsements |
You can perform the following mid-term policy changes with no impact on premium: Change of Name; Change of Address; Change of Beneficiary; Change of Agent; Policy Suspension, etc.
You can also create your own new processes to handle other mid-term policy changes using |
| 7 |
Proceed with automatic or manual cancellation… |
| Cancellation |
You will be able to setup an automatic cancellation procedure for non-payment of premiums or non-reception of salary declaration for example or use the manual cancellation process for any reason such as client or underwriter requests. If you wish to have more flexibility, you can parameterize two different cancellation processes, with and without refund. |
| 8 |
Ensure quick and accurate automatic or manual policy renewal… |
| Renewal |
You have the ability to parameterize renewal notices generation at a predetermined period of the expiry date of the policy. Renewal can be performed through a policy
& batch policy renewal processes. Renewal bordereaux and debit notes are automatically printed with batch renewal process. You can also generate an action list for policies, for which automatic renewal was blocked because requiring preterm changes, then process manual renewal of those contracts. |