Insurance Management: Underwriting, billing, claims and reinsurance for an insurer

Policies across life, health, property and liability lines, from the submission to the IFRS 17 close, on one record per policy.

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Insurance Management in the Insurance Suites: Underwriting, billing, claims and reinsurance for an insurer

Submissions, stage by stage

New, awaiting information, referred and quoted: each submission shows the documents still awaited, its referrals and a deadline, so a broker's request never sits unanswered.

A policy and every version of it

Policyholder, product version, intermediary, commission and instalment plan on one form, with each endorsement below it as a numbered transaction and its own written premium.

Rating tables with their own axes

A rate table per line of business, with up to three axes such as vehicle age and cover, in force from a date, with the next version waiting behind it.

The claims desk

Notified, registered, under assessment and approved for settlement, with the amount incurred on every card and a warning while cover is not yet verified.

A claim checked against the policy

The claim is verified against the policy version in force on the loss date, with the cause of loss, the claimant, the handler and a summary of reserve, paid, recoveries and what is ceded.

Treaties applied in order

An excess-of-loss treaty with its lead reinsurer, broker, classes covered, capacity, premium and reinstatements. Each treaty is offered only what the treaties before it did not take.

Bordereaux for every reinsurer

Premium and claims bordereaux per treaty and period, with the number of lines, the amount ceded and what is still to be settled.

Unearned premium, quarter by quarter

Each period close works out opening and closing unearned premium, written and earned premium and deferred acquisition cost, then posts it to the books.

IFRS 17 measurement

Each half-year measurement takes its assumptions from the reserving study and works out the liability for remaining coverage, the incurred claims and the insurance service result, group by group.

Development triangles for the actuary

Outstanding claims by accident year and development period, ready to open in a spreadsheet.

See it running

More screens from the app

Real screens from the running product.

What's inside

Everything in Insurance Management

40 items in 8 areas, every one shipping with the app today.

Products and wording
- Versioned productsDraft, active, closed to new business or withdrawn, each version with its own coverages.
- Coverages and perilsCoverage types per class of business, perils by category, catastrophe perils marked.
- Policy wordingA clause library by code, clause type and version.
- Proposal questionsThe questions a product asks, with the type of answer each one takes.
- Document requirementsA missing document can stop a submission at the stage that needs it.
- Lines of businessClasses of business in a tree, used by rating, reporting and levies.
Underwriting
- Submission pipelineEvery submission on a service level, with the at-risk and breached ones listed.
- ReferralsA risk outside authority goes to a senior underwriter, who accepts or declines with a reason.
- Quote optionsSeveral options and revisions per submission, and the outcome recorded.
- RatingRate tables, rating factors and short-rate scales, with a rate impact check before a change goes live.
- Renewals pipelinePolicies falling due are prepared for renewal every day.
Policies
- Endorse, cancel, renewGuided steps that check everything before they write, each one a new version of the policy.
- Version integrityA list of any policy whose versions do not add up.
- CertificatesCertificates with authority numbers, pending declarations and certificate stock reconciled.
- Printed documentsPolicy schedule, endorsement schedule, certificate, renewal notice and debit or credit note, on your letterhead.
Billing and collection
- Billing schedulesA schedule per policy transaction, following its instalment plan.
- Instalments invoiced when dueEvery day, without anyone opening a screen.
- Receivables by ageingPremium still owing, grouped from not yet due to over 180 days.
- Dunning ladderPremium reminder, notice of arrears and final notice before cancellation, sent and logged on the policy.
- Lapse for non-paymentA policy whose first premium never arrives lapses on its own.
- Unearned premium runsQuarterly, with deferred acquisition cost, posted to the books.
Claims
- Exposures per coverageA claim is split into what each coverage responds to.
- Reserve movementsReserves change only through movements, never by editing a figure, which keeps the development history.
- Payments by authoritySettlements approved at the level the amount needs.
- Recoveries and salvageWhat comes back, net of what was paid.
- Fraud indicatorsScored and explained on the claim before approval.
- Claims diaryClaims with no reserve movement for too long are flagged every day.
- Claim documentsClaim acknowledgement and discharge voucher, printed from the claim.
Reinsurance
- Treaties and layersQuota share, surplus and excess of loss, with layers and a reinsurer panel.
- Cessions and recoveriesPremium ceded and claim recoveries worked out per treaty, in programme order.
- BordereauxPer treaty and period, with the detail line by line.
- Treaty expiryTreaties past their period expire by themselves.
Actuarial close and reports
- Reserving studiesDevelopment triangles valued at a date, by period.
- IFRS 17Portfolios, groups and half-yearly measurement runs.
- RegistersPremium, claims and commission registers.
- AnalysisPremium production, loss analysis, retention, unearned premium run-off and levies collected.
Compliance and control
- Statutory leviesLevies per country, with what has been collected and what is still to remit.
- Country packsRegulatory blocs and commission ceilings set per market.
- RolesSales and service, underwriter, senior underwriter, claims handler, finance, manager, reinsurance and premium audit, enforced on every screen, report and API call.
- Rating APIKeys issued per partner, with every call logged.

Works with

What Insurance Management works with

Insurance Management shares one database with the rest of the Insurance Suites and BridgeERP: these are the apps it already talks to, with nothing to buy in between.