Policy Processing

The policy processing subsystem automates all policy related transactions, beginning with initial collection of information, and continuing through the life of the policy. This subsystem is integrated with the claims, accounting, reinsurance, and statistical and management reporting subsystems. The user can view claim and accounting information from the policy subsystem with a single keystroke.

• Transactions: New Business, Renewals (Manual and Automatic), Endorsements, Cancellations, Reinstatements, Non-Renewals, Audits, and Inquiries.
  
• Cancellation, Reinstatement, and Non-Renewal Notices: Printing of notice(s) with legal number of days and appropriate text controlled through support tables.
  

Claims Processing

The claims processing subsystem automates all claim-related transactions, beginning with initial claim registration and continuing through the life of the claim. The claims subsystem, is integrated with policy, accounting, and statistical and management reporting subsystems. The user can view policy and accounting information from the claims subsystem with a single keystroke.

• Report-Only Claim: The user can record a claim, and flag it as report-only claim, which means that it is not counted in the claim counts.
• Initial Claim Registration: The system can record a claim, and then provide online policy, unit, and coverage verification. Only authorized users can bypass the above verification process through password control.
• Reserves: The user can establish Indemnity Loss Reserve, Medical Loss Reserve, Indemnity LAE Reserve, Salvage Reserve, Subrogation Reserve, Deductible Reserve, Other Recoveries Reserve.
• Payments: The user can make payments and identify payments, in the same manner that reserves are established. In addition, payments can be broken out into more detail (partial, supplemental, etc.).
• Recoveries: Maintenance and tracking of salvage, subrogation, deductible reimbursement, and also a general a category called "Other Recoveries."
• Fast Track: The user can open and close a claim in one session.
• Subsystems: Maintenance and tracking of salvage, subrogation, and lawsuits in separate subsystems associated with a claim feature. A claim can be closed and any of these subsystems can still be open.
• Authority: Control of each users authority limits in terms of setting reserves and making payments through user maintained support tables.
• Additional Claim Entities: Capture of unlimited entities related to the claims and feature level, such as witnesses, doctors, lawyers, etc.
• Claimants/Features: Support of unlimited claimants and features per claim.
• Catastrophe: Capture and maintaintenance of a catastrophe code at the feature level. Capability to assign a catastrophe code based on the date of loss, cause of loss, and state of loss.
• Checks: Ability to print checks either in bulk, or one per payment.
• Voids/Stop Payments: Ability to void a check prior to issuance. After the check issuance the user can either void or stop pay a check.
• Check Reconciliation: Allows for both manual and automatic bank reconciliation.
• Forms: Captures, maintains, and prints forms that are either automatically or manually assigned to the claim or feature level.

Billing and Collection

The accounting subsystem automatically administers all functions of Agency Bill, Direct Bill, Broker Bill Business, and Payroll Deduction. It produces invoices and statements, and daily reports are produced to assist the user in balancing.

• Agency Bill: Provides automatic generation of statements, aged trial balance reports, the ability to provide multiple pay plans, online realtime application of cash, and open item reconciliation. Allows the user to pay some, most, or all of a statement.
• Direct Bill: Provides automatic calculation of equity date, automatic creation of invoices, user defined pay plans, automatic cancellation/reinstatement process for non-payment of premium. The assessment of late and reinstatement fees can be controlled through support tables. Online realtime application of cash, and open item reconciliation.
• The system provides a unique subsystem that allows the user to manage the commission receivable/payable between the insurance company/MGA with the agent. Commission statements are produced, online realtime application of cash, and open item reconciliation is provided.
• Accounts payable/receivable between the Insurance Company and the Managing General Agent: If the user is a Managing General Agent the system provides a unique and distinct subsystem to handle the accounts receivable/payable between the insurance company and the managing general agent. Statements are produced, on-line real time application of cash, and open item reconciliation is provided.
• Checks: The system allows the user to print checks either in bulk, or one per payment.
• Voids/Stop Payments: The user can void a check prior to issuance. After the check issuance the user can either void or stop pay a check.
• Check Reconciliation: The system allows for both manual and automatic bank reconciliation.
• Payroll Deduction: This capability allows the user to send a statement to one or more employer, receive checks from employers or payroll companies, allow for different payroll periods, view employee statements online, and pay some, most, or all of the statement.