REINSURANCE MANAGEMENT SYSTEM MEDICAL INSURANCE GENERAL INSURANCE LIFE INSURANCE TAKAFUL
Insurance Applications by Insurance People
THE SYSTEM
THE SYSTEM
General Insurance System (GIS)
General Insurance System (GIS) The General Insurance System (GIS) caters for the full range of non life and medical lines of business. This includes Motor, Marine, Fire, Property & Casualty, Liability etc. The embedded Product and Process Generator tools allow users to rapidly design and introduce new products as well as the ability to control the screen format and screen ows for the various processes. Some of the available functionality are Product Set Up, Offer and Policy Processing, Endorsements, Integrated Claims, Reinsurance and Accounting. The system also includes a parameter driven General Ledger interface to any third party GL system. The latest version of the system uses forefront technology and it is fully web based.
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THE SYSTEM…HIGH LEVEL
General Insurance System (GIS)
System Features The GIS system caters for the end to end processing of General Insurance and includes the following: •
Product Denitions
•
Process Generator
•
Quotation Module
•
Policy Module
•
Auto load facility for Fleet Motor
•
Integrated Claims management module
•
Full Reinsurance Module
•
Integrated accounting module
•
General Ledger interface
•
Powerful reporting and on line enquiries
•
User & Security Maintenance
•
Commission Scheme
•
Agency network setup
•
Comprehensive Endorsement processing
•
Table Maintenance (For the reference data i.e. currency, Exchange rate) etc.
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PRODUCT ADMINISTRATION
General Insurance System (GIS)
Plan/Product Administration The GIS system includes tools that allows for the rapid creation of new products. This includes the facility for the power end users to design their own screens for the capture of the required data for the specic line of business. Users are also able to amend the premium calculations and to upload the new calculations into the system without the need to revert back to ARIMA. Rules Various product rules are maintained that control Policy and Claims processing.
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PRODUCT GENERATOR
General Insurance System (GIS)
Product Generator The GIS system includes a Product Generator that allows the client to dene and parameterize the design and validation of the item screen. These include: •
Adding database elds
•
Apply Script based validation, and calculation formulas.
•
Changing the properties
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PROCESS GENERATOR
General Insurance System (GIS)
Process Generator The GIS system includes a Process Generator that allows creation of various processes. These include: •
New Policy (Company/Individual)
•
New Client (Company/Individual)
•
Claims handling
•
Various Endorsement Types
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QUOTES
General Insurance System (GIS)
Quotation Processing Quotes can be produced with automatic production of Quotes advice. Additional discounts and loading can be applied to the quote subject to the product rules dened. When a quotation is accepted, the data is transferred to the policy record which reduces the amount of administration work.
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POLICY
General Insurance System (GIS)
Policy Management The policy module caters for Group (i.e. Fleet) and Individual business. The same module is used for all lines of business. The data capture for the specic line of business is dened in the Product Generator. E.g.
Motor
Car Registration, Make, Model, Engine size etc.
Marine
Vessel Registration, cargo type, destination etc.
Property
Address, Building type etc.
Different Coverage’s are dened for the line of business: E.g.
Motor
Third Party
Comprehensive Travel Assist
An automatic load facility is available for the loading of Fleet Motor details and members for Workman Compensation. Policies are input on an initial status of
pending
acceptance
and
when
the status is changed to accepted, the
applicable
premium
is
raised,
the reinsurance transaction created and the required policy documentation/ schedules produced. On line wizard processing assist the user with the policy creation. …….insurance applications by insurance people.
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CLAIMS
General Insurance System (GIS)
Integrated Module
Claims
Management
An integrated claims module makes use of the Product and Policy rules to ensure the correct amount is processed. Claims are recorded against the insured item as well as the applicable covers. Initial Claim Reserves are recorded and the amount approved prior to any payments being released. Reserve Increase or Decrease is controlled via separate transactions to maintain a full history. Claim settlement can be either via Credit Notes, Cash or using an additional Automatic Cheque Production facility.
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REINSURANCE
General Insurance System (GIS)
Reinsurance Processing The GIS system includes an integrated Comprehensive Reinsurance Module that caters for all types of reinsurance: •
Quota Share
•
Surplus
•
Excess of Loss
At policy acceptance, the reinsurance Treaty limits are validated against the Sum Insured and the system automatically ags if Facultative cover is required. The inward policies are then linked to the applicable reinsurance contracts that are identied by a reinsurance program. Reinsurance transactions are automatically generated from the inward Premium and Claim transactions. Periodic Reinsurance Accounts are generated when due and are split based on the Participant percentages. Details of the underlying
Securities
are
captured to allow full review of any exposures. For XOL covers the M&D premiums are maintained and released when due. …….insurance applications by insurance people.
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ACCOUNTING
General Insurance System (GIS)
Accounting Processing The GIS system includes an integrated Accounting module that caters for the nancial processing of the General Insurance Business. This includes: •
Receipt Processing
•
Credit Debit Notes
•
Claims Settlement
•
Refund Premiums
•
Post Dated Cheques
•
Reconciliation of Transactions
Trial balances can be run on any of the General Insurance transactions. There is also a General Ledger interface that allows for the transactions to be mapped to the relevant GL
Account
Journal
codes
Vouchers
and (JV’s)
are automatically created and can be imported into any Third Party General Ledger. …….insurance applications by insurance people.
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REPORTING
General Insurance System (GIS)
Reporting The GIS system incorporates comprehensive reports that run at a range of levels and frequencies. These include: •
On Line
user requested r eports and event driven
•
Daily
Daily control reports
•
Weekly
Weekly summary reports
•
Monthly
Monthly summary statistics and triangulation reports
On line underwriting statistics provide an overview of the history of a policy, client or products.
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MISCELLANEOUS
General Insurance System (GIS)
Additional Modules Imaging Documents can be scanned and attached to Policies and Claims and can be viewed while using the GIS system via a common icon. The Policy and Claims folders are broken into sub folders to allow easy access to the images. Table Maintenance A separate module allows the end user to view and update (where applicable) reference data tables. Automatic Cheque Production (ACP) A separate ACP module can be used for the settlement of any claim payments via cheque. Court Case Claim transactions can be marked as under litigation and details of any hearings; decisions etc are recorded in a separate court case module.
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SECURITY
General Insurance System (GIS)
Access & Controls Role Based User roles are dened which control the access to the various modules available. New users are allocated to their specic role. In addition to the Insurance company staff, users can be clients, agents, providers with specic system privileges. Authority Limits There are several user dened limits which include: •
Underwriting Limit
•
Claim Limit
Override Approvals Based on specied business rules, manager override may be required to process various transactions (e.g. Discount percentages etc). Users with this authority are dened and maintained. Audit Trail All transactions are retained in the database and are stamped with details of the user and date/time created as well as user and date/time last updated. …….insurance applications by insurance people.
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TAKAFUL SYSTEMS
General Insurance System (GIS)
TAKAFUL ARIMA have developed a Takaful version of the GIS system. The system includes all of the processing requirements for the particular line of business:•
Specication and Creation of Insurance Pools
•
Mudaraba and Wakala terms
•
Surplus Calculation
•
Surplus Distribution
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ARIMA TEAM
General Insurance System (GIS)
ARIMA TEAM ARIMA have a dedicated team of professional software developers with a strong business background. The team includes qualied Project Managers, Business Analysts and skilled Technical personnel. In additiona a Help Desk is available to all clients which includes a 24hr x7 emergency contact/support number.
Contact Details For more information on ARIMA and it’s range of products please contact:
Customer Services Manager ARIMA Insurance Software ARIG House, Diplomatic Area PO Box 15642, Manama Kingdom of Bahrain Tel:
+973 17544111
Fax:
+973 17918111
e-mail:
[email protected]
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