IMS Features

Insurance Administration System - Proposals and Policies:

Multiple lines of business packaged in one policy Multiple insured objects and assets Multiple dynamic questionnaires Comprehensive data validation Individualized real time premium calculations Differential rating based on multiple parameters Clause and form management Comparative quoting multiple proposals for a single client Interactive, online payment schedule Automatic issuance of documents Online policy approval for immediate coverage Automatic and Manual underwriting and pricing Fully integrated with CRM, document production, workflow & business intelligence systems

Billing Automated & Efficient Processing

Direct and Agency and Account billing and collections for personal, commercial and specialty insurance products Premiums, services, taxes and fees breakdown to coverage, risk and policy levels Dynamic installment collection fees by payment plan Flexible AP/RP endorsement premium spreading Short / over payment management Write off / threshold processing Comprehensive payment methods with rejection management (CC, DD, EFT, Lock Box, Check, ACH) Funds matching and reconciliation Unallocated / suspense account management Customer / Producer / Agent centric dashboard Timely invoicing and statement production Timely and effective collection with flexible escalation Cash receipts system

Flexible Structures

Non-payment, NSF processing, with escalation and fees Integrating premiums, commission and claims payments Flexible payment plan (periodical, consecutive, equal, proportional, etc) Pro-rate/short-rate and fully earned parameterized cancellation

Accounts, Journals, and Ledger mapping and management Account management workbench for manual auditable adjustments Multi-currency

Producer / Agent Management

Commission plans management down to coverage level Fiduciary management for collecting agents Payment of net and gross of commission Current account and agency statement Paid on paid and paid on written support Agency hierarchy support Agent portfolio transfer Commission claw back

Technological Infrastructure

Scalable industrial strength module Dot net and MS Sql technology Transformation adaptors for ease of integration Full audit trail with user and time stamps Role based security Electronic document production, distribution and archiving

Claims Key Components and Benefits

Incident definition with multiple claimants Multiple policy and coverage attachment points Linking related claims Multiple damages per object with multiple reserves and payments Full audit trail of the reserve history and development Full history of claim payments to claimants and service providers Early claim validation by associating of a claim with a policy Point in time coverage verification for policy and coverage terms Sums insured and deductible control Primary cause of loss initiating workflows and follow-ups Fast track and serious claim determination and processes Full workflow and agenda activities management

Tight claim settlement security & authorization-based processing Effective and efficient processing capabilities for claims adjusters Damages, perils, and cure / compensation alternatives Subrogation processing Alerts and indications for fraud detection