Insurance Business Modules

The following set of modules is used for all lines of business.

Billing and Collection Processing

This subsystem performs all pre-accounting processing of the premium collection process. It provides user interfaces for premium payment registration. The premium payments can be registered in three ways:

• Single policy payment;
• Payment for group of policies (bordereau) with an option for manual allocation of the total amount to specific individual policies;
• Bill payment - payment against generated bill for a group of policies included in the bill with automatic distribution to the individual policies.

Commission Management

INSIS supports as a standard functionality calculation of commission, overrides, production bonuses, and persistency bonuses. The commissions can be specified per product, per cover, per agent or any combination of these. The commission rates can be different for different periods (new business, renewal business) and the system can support special commission agreements with individual agents or brokers INSIS gives the freedom to deploy various commissioning rules. The commission can be paid on each installment or annualized (with the first premium collection). When commissions are annualized the system can withhold certain percentage of the commission to form agent cancellation fund and to meet commission clawbacks in case of policy cancellations.

Reinsurance Module

INSIS supports the full reinsurance and coinsurance process in the Insurance Company. The system provides fully automatic administration of the entire reinsurance process regarding the proportional and non-proportional treaties. This process include automatic matching of policies to a RI clause(s), premium ceding, claim ceding, loss reserve ceding. Thus, INSIS provides a fully automatic administration of the entire outward reinsurance process, including facultative, fronting, and coinsurance arrangements.

Providers Management

INSIS maintains information about company’s service providers for non-life (e.g. repair shops) and health (e.g. hospitals, laboratories, doctors, etc). The system allows available services and their prices to be registered with providers’ contracts and to be used for validation of the billed services.

INSIS Workflow

Standard INSIS functionality for claim, underwriting, and subrogation processing is enhanced with workflow shell for automation of the entire work cycle. The workflow module allows the process to be automatically split to a number of elementary steps executable by the company employees and external parties. Every step is scheduled in the time according to company rules and authority regulations.

INSIS Service Desktop

INSIS Service desktop is receiving all service requests that are posted from the portals. INSIS Service desktop is part of INSIS Workflow. The users of INSIS portals – agents, partners, and customers – can use the portal self service functionality to submit their service requests for processing. All the service requests – quotations, policy alterations, loss notifications, etc that are placed in the portal are transferred to the Service Desktop of INSIS Back office. The Service Desktop is special module that enables the operators in the back office to inspect every service request and decide how to process it.

Embedded Accounting Module

INSIS integrated accounting module provides fully automatic preparation of the accounting transactions for exporting to an external GL system, Account payables, and Account receivables. The configuration of the embedded accounting module defines rules according to which each insurance operation is transformed into a set of accounting transactions. These transactions are generated on-line and are periodically transferred to the external financial system for booking.

People Management Subsystem

INSIS ensures a global view about Insurance Company customers. People management subsystem deals with all the physical and legal entities, who are real or potential customers of an Insurance company. It manages the data related to all involved persons or entities appearing in the insurance process cycle. INSIS provides a complete functionality for registering, modification and retrieval of data for all physical and legal entities involved in the insurance process. This information is provided in a single screen which enables fast access to all available information about the person/entity.

Document and Correspondence Manager

INSIS offers management of correspondence, documents and printouts, various attachments associated with INSIS operational data (quotation, policy, claim, client, agent, etc.). This module is used as a case management tool where various events like phone calls, correspondence, notes, and tasks related to the particular process can be registered. The tasks posted via the case management tool are immediately attached to the workflow engine for execution control.