ISF General

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Overview

  1. Single system for all Lines of General business (Motor, Home, Travel, PA on retail side and Fire, Marine, Engineering, Money, Liability and special lines).
  2. Comes with Product configuration and Product management options (Cloning, Copy products). Many variation products can be launched to suit consumer needs.
  3. Product configurator allows for seamless “Product Bundling” to provide holistic cover for target markets. Eg : Comprehensive cover for Hotels, Shop keepers etc. A single policy with multiple sections can be issued. Accounting and Reinsurance will follow respective sections.
  4. Complete integrated Reinsurance support for Proportional and Non-proportional treaties. Integrated across the Policy life (New business, Endorsements, Claims)
  5. Core solution comes with Distribution management system and commissions. It has multi-channel support with multi-tier hierarchy. Automated KPI tracking.
  6. Integrated Finance function, with fund management, the whole of AR, Collections, AP, Payments, Accounting are automated. Real time analysis. Earned and Unearned premium assessment and accounting. Real time claim ratio assessment.
  7. Ready digital platform and services with straight through processing (Customers, Agents, Banks). Optional
  8. Ready integration with General ledger finance system on same platform (Optional)
  9. Ready integration with a document management system (Optional)

Key Features

1. From simple travel and Personal accident products to complex Engineering products.

2. Facility to bundle products for specific target markets. Eg : Comprehensive cover for Hotels, Shop keepers etc. A single policy with multiple sections can be issued. Accounting and Reinsurance will follow respective sections.

3. Integrated Reinsurance, Co-insurance (Leader and Follower). Covering New business, Endorsements and Claims.

4. Different models can be implemented. Eg : Takaful Models of Insurance.

5. Bulk processing facilities for Motor Fleets, Group members of Personal accident/travel, Fire multi locations etc.

6. Pricing can be done at granular level or at aggregate level as per the product needs.

7. Multiple Endorsements can be done at one go (Eg: Adding Insurance items, Removing Perils, Adding deductibles etc together)

Key Benefits

1. Single system for all lines of business in General insurance. Hence, no need to have different systems for each lines

2. End to end functionality is covered. Quotations, Newbusiness, Underwriting, Endorsements, Claims, Reinsurance, Billing, collections, Payments, Accounting. Hence, single source of truth.

3. Product configurator allows for quick launch of products. It can be few days.

4. With complete integration, your operational expense ratios shall come down.

5. Centralized customer with quick customer centric views, Risk accumulations. Makes it easy and faster to assess and make decisions.

6. API's can be provided based on the needs to integrate with distribution and service providers.

Media

Brochures