Software for Short Term Insurance Brokers & Agents,

Underwriting

 Client capture

The creation and maintenance of essential client information.

Service team

The various personnel involved in servicing each client, for example: Account executive, Commission agent, Claim handler(s).

Situations

The risk address(es) for each Client’s assets

Bank accounts

Client bank account(s) information.

Settlement terms

Any terms agreed with Clients to settle their accounts.

 Policy registration

The capture of sufficient information to enter a policy record into the system.

 Policy maintenance

Updating of policy details resulting in raising a premium debit or credit.

Insurer(s)

One or more Insurers on risk.  Inandrias caters for any number of collective Insurers.

Agent(s)

Sub agents, taxes (VAT or GST) and special fees can be controlled here.

Premium allocation

Adding, changing or deleting Sections on policies relative to the cover required by the Client and the Product / Insurer selected.

Transaction processing

New business, Renewals and Endorsements for raising debit / credit notes.

Policy Move

Move a policy with all its schedule detail and transactions to another client.

 Correspondence

The creation, modification or deletion of correspondence sent to any party, Client, Insurer or Agent.

 Auto debit processing

The control and periodic raising of various kinds of premium debits and the creation of relevant bank files for electronic clearing.  This facility is also used for controlling commissions due when insurers collect the premium.

 Schedule processing

The capture of asset information required to correctly rate a policy and process or repudiate claims based on cover in place at the date of loss.  This tool is user amendable and can be used to duplicate insurer’s policy wordings or simply produce underwriting summaries.

 Insurer maintenance

The addition, modification or deletion of Insurers and the Products that they offer.

 Agent maintenance

The addition, modification or deletion of Agents and sub agents including taxes and special fees.

 Product maintenance

The addition, modification or deletion of Product information and options and the Sections that a Product consists of.

 Section maintenance

The addition, modification or deletion of Product Sections that determine the risk factors and Schedule information.

 Pay method maintenance

The addition, modification or deletion of Pay methods like Annual, Monthly auto debit, Single Premium etc.


Schemes

 Process groups of policies by product or institution

Facilitates the import and processing of group data from almost any electronic source.

 
Claims

 Claim registration

The capture of sufficient information to enter a claim record against the asset covered at the time of loss.

 Claim maintenance

Updating of claim details and the changing of claim status used to track the process of a claim from registration to finalisation.

Capture estimates

Original estimates should be captured carefully as they are “cast in concrete” by the system.  Users with claims settling authority will change these estimates as settlements and recoveries are processed.  Otherwise estimate changes and claim finalisation are simply made in the main claims information form.

 Process settlements

Capture payee data, amounts (including any taxes), the type of settlement and relevant general ledger codes.

 Print cheques

Cheques are batched on a daily or on an “as required” basis in order to validate data through various has totals and requisition total controls.  Today “cheques” is a euphemism for electronic settlement so the controls become even more critical than in the past.  It is highly recommended that this is function is processed by a user not in the claims department.

 Process recoveries

Capture recipient’s data, amounts (including any taxes), the type of recovery and relevant general ledger codes.

 Claims GL code maintenance

The addition, modification or deletion of General Ledger codes for Claims costs and recoveries allocations.


Accounting

 Client accounting

Review current or historical client statement information and process the necessary transactions to maintain correct client balances.

Receipt

Process a receipt from a client.

Refund

Process a refund to a client.

Apply

Contra receipts, refunds or journals against primary Client transactions.

Journals

Write off small over/under amounts or bad debts.

 Multi-currencies

Note that all monetary transactions can be made in any currency pre-defined in the system.  A gain/loss on exchange report is available at any time providing that the foreign exchange prices are captured on a regular or a daily basis.

 Insurer accounting

Prepare, process and print Insurer bordereaux.  Features include

Advance Bordereaux

Select transactions by effective date and save them for finalisation when required later. Print the advance bordereaux for submission to the insurer.

Ad-hoc Bordereaux

Select and print transactions for immediate remittance to any insurer as may be required by them from time to time.

Part payments to Insurer

Make part payments to the insurer as and when agreed with them.

 Agent accounting

Prepare, process and print Agent remittance statements.  Select transactions for payment by date range or individually as required.


Reporting

 Clients

Preview or print Client Alpha list, labels, statements and debit notes.

 Transaction

Preview or print daily transaction log, primary transaction audit, periodic transaction summary, debtors age analysis and summary, unpaid analysis and premium by Pay methods.

 Insurers

Preview or print Renewals falling due or not renewed and Insurer’s outstanding balances.

 Agents

Preview or print  outstanding balances to Agents.

 Claims

Preview or print Claims registered, Claims paid and outstanding and Claims settlement / recovery audit.

Print or preview a claims loss ratio report for selected clients or all.

 General Ledger

Preview or print Income and Costs analysis by GL code and the print the periodic general ledger posting journal based on the mapping set up in the maintenance module.

 Company / branch

Preview or print Trust account and Company management information.

Maintenance

 Audit trail

Review the mirror data audit trail on a regular basis.  Drill down and investigate items requiring inspection or investigation.

 Mirror database

Restart the Mirror database utility periodically or even daily to ensure that Mirror integrity is maintained.

Data integrity can also be checked on a regular basis by a selected key user or administrator.

 Upgrades

A selected key user or administrator can apply system version changes as they are made available.

 Change data links

Link to different data sets as and when required.  This is useful for super users who are required to audit or maintain different entities’ databases.  Regular users can use this to link to test or training environments to test specific aspects of the system not previously tried.

 Maintain Currencies

Add, modify or delete currencies.  Update daily exchange rates.

 Database maintenance

Selected users must backup, compact and repair databases as required.

 User maintenance

Administrators can add users and change permissions to more or less functionality as required.