SISE P&C, Group Life & Claims
SISE PAS P&C System is a fully functional web-enabled insurance solution that reduces the cost of doing business through automation and optimizing risk selection through the use of rule based underwriting. Their modules are:
- The Security Administration Module makes easy and secure the access to the System. We manage the concept of Roles, so one person can have the role of intermediary, and the role of insured at the same time, and depending with what credential get in the system has different views.
- Single Sign on
- Security Administration
- Roles & Credentials
- The Insurance Product Designer defines how each product operates. Business analysts determine the business logic to be applied and link all the components of the product. The rules based technology integrates business rules into processes and transactions and eliminates time consuming development. It supports internal or external rating solutions with rates, formulas and algorithms. Products can be deployed for multiple companies, lines of business, risks and countries. Insurance Product Designer key features include:
- Reduced timeframe for development and launch of new products.
- Easy maintenance and versioning of products and existing books of business.
- Re-use of product definitions and decision flows across multiple lines of business.
- The Insurance Product Designer includes a Business Rule Engine, a Rating Engine and Dynamic Questions to create dynamic forms.
- Business Rule Engine: This component administrates the business logic through the system. No codification is required. A user friendly rules interface allows you to enter the rule in a standard format of condition-action or through decision tables. The user defines the actions to be executed according to preset conditions and links information and components from the rating engine in order to perform product rating when accessed from the Quotation, Issue and In Force Administration systems. User messages and service messages to be used for integration can be defined as well.
- The Rating Engine allows you to create multi-risk packages or single risk packages. Each of them is supported by different sets of coverage packages and you can add coverages at your convenience. This component manages all rates, formulas and algorithms required to support insurance product rating for all lines of business. Commercial, technical and financial conditions of the products are defined in the rating engine. In combination with the Rule Engine it executes the business logic allowing you to come up with the exact rating for the product.
- Dynamic Questions Create dynamic forms according to the specific information required for rating each product. Provides you with a simple but effective way to extend the use of the system without codification. Integrated within the Rule Engine, it allows you to apply the business rules and decisions as the information is entered by the user into the different systems
- The Policy Issue Module has Quick & Full Quote functionality, and is designed to provide a web-enabled and mobile data entry system to rate products. Products automatically reflect pre-defined characteristics introduced through the Insurance Product Designer such as coverage, rates, and forms. Issue and In Force Administration provides STP capabilities through automated and assisted underwriting using mobile devices or just a browser to capture the data at the quote stage. It enables easy transition from fast quote and/or full quote to policy. Underwriters can also design tailor made policies.
- Quick Quote
- Policy issue
- The Claims & First Notice of Loss Module was designed with the optimization of time and cost reduction with the vision of improving the user experience, insured, intermediary and third parties, as well as optimizing the processes related to the administration of claims. Specially designed for web platforms and using service architecture, our Claims System offers a flexible solution in the management of the entire claims process, from initial notification, claim formalization, reservation management, and payment offer to the interested.
- The Accounts Receivable Module manage your value and premium income from your customers in a fast and efficient way, with real-time queries, the income module that helps your company make the right decisions in managing your portfolio. With the Accounts Receivable Module your company can:
- Produce timely reports to identify your best customers and stay on top of sales patterns.
- Track every aspect of your Premiums receivable and receivables in a timely manner.
- Accounts Receivable Module helps you manage credit and collections tasks with less strain on your employees. You can track every aspect of your client’s policies in a timely manner, and use this vital management information to improve the portfolio management
- Our Accounts Receivable Module gives you the flexibility to deliver invoice by email or printed document based on the preference of each customer. And, if your customers call with questions on their account, you’ll be ready to help out using quick lookups filtered by customer or transaction criteria.
- Our Accounts Receivable Module allows your clients and intermediaries to pay their premiums online, remotely and securely or with our automatic debit in bank account or by automatic credit card debit submodule
- The Account Payment Module allows your company to track the obligations with suppliers and accounts payable, schedule and make invoice payments to Suppliers, Claims, and Purchases, Reinsurance, Commissions and advances to Intermediaries. Some of the benefits of having Account Payment Module are:
- Improve your efficiency with quick entry and defaults on headers.
- Manage your expenses efficiently and keep your accounts up to date with user-defined terms, aging periods, and cutoff dates. Produce timely reports to help assess your financial position.
- Take control of your invoice processing and pay all invoices, prepay invoices, or split invoices for payment
- View historical data for an unlimited number of years in detail or in summary, and view and select payables to be released for payment
- Online Accounting
- Check Management
- Online Transfer Payments
- Online Authorization for Payments with our Politics & Authorization Module
- The Reinsurance Module allows the parameterization of reinsurance companies, contracts and distribution criteria. In addition, this module is able to automatically distribute the premiums and claims generated by the Originator Company, present internal listings and control entities, in addition the detail is available through the query that supports the distribution. With the information of premiums and claims distributed can be executed closing processes, which will result in an accounting entry, technical accounts and checking accounts. After closing and generating the current account, it is possible to administer the same with payments and charges to the reinsurers through the module of Allocation, SISE Payment Orders. We provide with our Reinsurance Module with the following functionalities:
- Reinsurance Companies Management
- Contract Administration
- Excess of Loss.
- Quota Share.
- Proportional Facultative, Non-proportional Facultative and Mandatory Facultative
- To have an unlimited number of participating companies in the reinsurance contract
- Automatic Reinsurance Process (Online and Batch)
- Premium Reinsurance
- Claims Reinsurance (Estimates and Payments)
- Premium and Claim Adjustments
- Elimination of premium and casualty reinsurance
- Management of Catastrophic Events
- Payment Generator Module
- Control of Cumulus
- Monthly closure
- Receipt Receipts / Remittance Allocation
- Generation of reports and lists to control entities (Report of Clusters, Report of Bordereaux, Report of Technical Account, Report of Statements of Account)
- The Authorization & Politics module, permits to delegate system transactions (issuing of premium, payment to claims, premium collect) to users and Intermediaries and allowing to the company have control over these delegations. With the Authorization & Politics Module you can:
- Define levels of premiums amount allowed for users
- Define opening levels and adjustment of claims reserves by users
- Set alerts
- Authorize or decline transactions
- Be informed about the operations carried out in the company and on which actions must be taken
- Business Alerts
- The Queries & ReportingModule has reporting tools that allow users to define their own report sets to be used in a recurring way for analysis of real-time transaction information, which can be exported to formats such as Microsoft Excel © or PDF, we also use Crystal Report as Accounting and Legal Reporting tool
- We Implement a ESB middleware layer that easily drive integrations with ERP, CRM, BPM and transactional technology solutions. SISE 3G also has several strategies for applying the ability to interface and interoperate with legacy systems.
Our SISE PAS P&C architecture is based on SOA and SCA principles. With native support for HTTP/SOAP and HTTP/REST protocols, SISE 3G can easily interface and interoperate with basically any software/solution that can "talk" HTTP language, including several platforms and technologies such as Java, PHP, Ruby, Python, .Net, scala, Node.js, etc.
SISTRAN also recommend Talend ESB for service Bus enhacements, giving the ability to compose business services, easily re-publish services with different protocols and bindings, providing a transparent Web Services HTTP security layer (message authentication), Transform and adapt messages in the ESB for faster time to market solutions, monitor services health, etc.
The SISE PAS P&C is undergoing on the process of adding more functionality, LOB’s, and completing the functionality of Financial, Accounting and Administrative Modules.
The key benefits of our SISE PAS P&C provides features that enable third parties as Agents, automate the underwriting process to greatly reduce time, duplication and cost of policy processing, also allow the Integration with Mobile Applications, Telematics, IA Robotics, etc.