White Label - insurance core system

• Launching new, simple products without IT involvement or more complicated ones using only analytical skills, no development required
• Products simulation using test environment
• Import of new versions without application restart
• Mapping construction of insurance products in the system
• Intuitive and complex products configuration
• Loading parametrization files with a new product definition
• Possibility to prepare a product „from scratch” or modify existing one
• Separation of sales path definition from actuarial definition (back-office)
• Modification of print templates without IT involvement: depending on products, sales channels, networks

• Various sales channels, e.g. agents, long-channel (non-professional brokers), direct, call center
• One actuarial definition (back-office) enables presentation of many marketing “products” on different sales paths
• Full support for sales processes of individual and group, life and non-life, in-house and external products (e.g. multiagency, reinsurance, co-insurance)
• One, consistent view for offer presentation across multiple products and variants (multi-calculation)
• Possibility to modify parameters of offered product and real-time premium recalculation
• Policy changes support: annexes, renewals, cancellations
• Support of SMS and e-mail communication channels allowing to send documents associated with the policy or offer

• Tariff configuration for simple products without IT involvement
• Autonomous pricing algorithms definition for calculations in sales and handling processes
• Tariff & marketing discounts, surcharges, legal clauses
• Discount codes, bundled offers
• Full support for handling large amounts of data needed for calculations and corrections

• Operations management and control of services beginning with registration, through verification of insurance coverage, claim evaluation by appraiser to compensation, claims settlements to case termination
• Automatic verification of authenticity of claim based on data from the policy and those collected on site (date of the event, scope of covered risks, percentage of policy excess etc.)
• Set up a list of tasks and notifications that will be automatically generated based on the occurrence of a specific event
• Logic of detecting a potential fraud or abuse
• Generating payments and their integration with financial clearing systems
• Support for insurance subrogation process
• Support for management of premium collection process
• Support for workflow and document flow process

Effective Date of Operation
Possibility to perform all operations simultaneously (e.g. uninterrupted sales of products during the month closing process).
Automatic Process Management
In case of incorrectly performed operation – access to business and technical logs with possibility to re-execute the process.
Operation withdrawal
Possibility to undo any operation caused by user error (e.g. incorrect annex, policy termination). Every withdrawn operation is registered in the system for audit purposes.

• Central repository containing necessary information about the parties involved in the processes supported by the system (e.g. insurer, policy holder)
• Access to all policy and claim documents as well as policy life cycle
• 360-degree policy view – Access to a complete policies portfolio in one consistent view
• Processes automation: policy annual renewal, renewal offer, indexation and policy mass-changes handling

• Payments monitoring and debt repayment support
• Support of soft and hard debt collection
• Ability to conditionally configure debt collection paths and customers communication channels

• Printing templates and content management for all stages of offer as well as after-sales process
• Multi-channel communication support (e-mail, sms, letter)
• Automated mass correspondence handling
• Support for digitization, scanning, OCR

• Data collection for each transaction (premiums written, collections, commissions, compensations, reserves, reinsurance)
• Support of analytical accounts based on accounting plans defined
• Synthetic records generation to general ledger
• Support for End of Day process – current operations performance and dynamic reporting
• Support for End of Month process – linking business operations with account posting

• Definition of premium amounts for applications, policies and certificates
• Collection management, reclassification and returns
• Sum insured and premium reserves service
• Automatic identification of premium collection with policy account and allocation on each risk

• Definition of sales channels and commission models
• Groupable structure of dispersal sales
• Commissions’ calculation
• Remuneration payments and return service
• Support for many commission beneficiaries
• Automation of commission corrections in case of untimely closing of policy

• Calculation engine – a complex tool for all types of calculation
• Support for calculation procedures for reserves, discounts and non-standard commissions
• Creating new calculation procedures without vendor support
• Handling control-checks calculation for co-insurance products

• Full support for product offering process in co-insurance and reinsurance model, as well as multiagency (without risk participation)
• Settlements handling and exchange of data with other insurance companies

• Analysis of data stored in the system and collection of statistical data
• Possibility to create own calculation models and dynamic result presentations
  Business reporting.
• Possibility of preparing business data sets and integration with external reporting engine (e.g. JasperReports)
• Financial planning. Report module covering the planning process (creating new, modifying existing) and repository of financial plans (including their versioning)
• Products reporting. Reporting sales, profitability, risk, etc divided into group of products