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PremiaTM - Insurance Solution |
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Our long association with these established organizations has benefited us in improvising
our insurance management solutions. Our software professionals dedicated to the
insurance industry are consistently developing and offering high-utility and economical
products for the industry.
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PremiaTM Insurance Software Solution Suite
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An all-inclusive, cost-efficient solutions suite
The PREMIA insurance management solutions suite is designed to proficiently
perform all the functions of an insurance company such as underwriting / policy
administration, claims management, reinsurance and accounting. The offerings in
our insurance software solutions suite are used by some of the most recognized names
in the global insurance industry. |
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The PREMIA insurance software solutions suite covers various business classes such
as property, general liability, workers compensation, commercial auto, business
owners policy, marine cargo, personal auto, homeowners, umbrellas, health, liabilities
and related
areas.
The PREMIA insurance management solutions suite comprises:
- PREMIA General Insurance
- PREMIA Takaful
- PREMIA Broker
The suite offers a robust and multi-layered security infrastructure that restricts
unauthorized intrusions by controlling access to menus and functions. The integrated
modules available under the PREMIA insurance software solutions suite allow you
to capture information related to proposals, policy details and endorsements for
all insurance business lines.
The insurance management solutions suite works on:
- Oracle 9i RDBMS or a higher version as the database server
- Windows NT Server Version 4.0 or higher version
- Windows 2000 Server, Novell Netware, Unix and Microsoft environment
The client machines require:
- Pentium PC with at least 256 MB RAM
- Microsoft Windows 98 or any higher version operating system
- Internet Explorer 5.0 / Netscape Navigator 4.6 or a higher version browser
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PremiaTM
Suite |
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Handling modern-day complexities
With the increasing complexities and competitiveness in the general insurance
business, insurance players have started investing heavily into general insurance
software solutions. Though they have been successful to an extent in taking care
of their current needs, the same cannot be said about their long-term needs and
strategies.
A cost-efficient, proven solution
PREMIA General Insurance, a part of our
globally popular PREMIA suite, is a futuristic
general insurance software product. It comes incorporated with your country's statutory
requirements and takes care of end-to-end flow of business documents within your
organization. You do not have to distort your existing functioning and business
plan because the system fits comfortably with your day-to-day business
needs.
The general insurance software optimizes your underwriting, claims, reinsurance
and financial accounting processes through seamlessly integrated modules, which also help you in related aspects such as rating, quoting, policy administration,
and general ledger accounting. In addition, it gives you unmatched scope for customization.
Mark of versatility
This general insurance software product is built on the industry-leading
Oracle platform that gives you unlimited server hardware and operating system choices.
It caters to multiple business lines such as Motor, Fire, Marine, Miscellaneous,
and Home, to name a few. It enables quick rollout of new products and adherence to statutory changes. It also allows automatic generation of accounting documents.
Capitalizing on Web power
PREMIA Collaborator-our Interactive Insurance solution enables you to leverage the
power of the Web for enhancing service levels, reducing service cost and increasing
sales capabilities.
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PREMIA Takaful streamlines your insurance operations in the Islamic approach - driven
by the Shariah law. It supports both Mudharabah and Wakalah models of Islamic insurance.
Designed for deployment across General and Family Takaful products, it makes your
processes across underwriting, claims, Re-Takaful, financial accounting and surplus
distribution, highly integrated and rationalized.
Product highlights
- Covers business types such as family, general, group and annuity, etc
- Segregates different business types and also, consolidates analysis, finance and
statutory returns at the company level
- In spite of the differences in features of the Takaful model for family and general,
both business types can reside in the same database - empowering you to consolidate
the surplus or investment returns for a participant into one account
- Handles the complexities related to flow of funds. It allows you to monitor and
control the fund flows based on your business performance
Streamline interactions with participants
- Maintain individual accounts for participants. Keep track of the day to day surplus
and investment profit flows, and also flows of risk funds to individual accounts
and vice versa
- Know a participant's
cash value at any point of time with a mere mouse-click
- Treat participants' contributions as unitized or non-unitized depending on the Takaful
operator
- Segregate contributions into risk and investment portions
- Allocate investment profits to the participants on the basis of pre-defined parameters
- Define the parameters that determine investment profit sharing
- Calculate and distribute underwriting surplus among participants with relevance
to every Takaful model
- Calculate surplus on a monthly and annual basis, or on a monthly basis to be distributed
annually
Re-Takaful module
The highly automated Re-Takaful module streamlines your operations for treaty Re-Takaful,
outward Re-Takaful, Re-Takaful billing and risk accumulation. Though the business
rules are pre-defined at the outset, you can convert it into a manual process with
requisite authorization.
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PREMIA BROKER is an enterprise-class insurance broking management and control system
that supports broking, consultancy and claims, backed by comprehensive financial
accounting, reporting and analysis. It is flexible, easy to operate and implement,
and very powerful in both entry and retrieval of business critical information.
It facilitates conversion of broking slips to quotations right through to cover notes, thereby eliminating redundant data entry.
PREMIA BROKER gives you speed of interaction, convenience of transaction processing
and ease of information access. It offers seamless integration across all major
broking activities, backed by extensive reporting and analysis features.
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