Insurance company: What all-in-one solution to manage your needs?

Contract management

What issues?

On a daily basis, insurance companies need to manage the entire life cycle of their Iard insurance policies. This implies a multitude of operations, ranging from quotes to SEPA samples, passing by the endorsements and the receipt. In addition, they must take into account the recovery rules specific to a country or a network.

What solutions?

A Disaster insurance management tool allows, first of all, to bring together all contracts on the same platform, in order to obtain a overview and Secure data processing. This 360 -degree vision also allows you to easily manage all the company's activity branches, from one contract to another in a simple and fluid way.

This type of platform is also a precious help for reassurancesince it is able to take care of all types of contracts: Treaty, Optional contract, proportional or non-proportional, stop loss, excess claim, share … In addition, the contractual conditions can be consulted in the blink of an eye: transfer rate, limit by transfer and by event, full of retention, etc.

Finally, a claiming insurance management solution considerably accelerates the renewal of contracts. It is for example possible to duplicate an existing contract, by taking up all of its contractual conditions, in order to save time.

Claims management

What issues?

Simplify the claims by the insured is a real priority for insurance companies. But the latter also need to facilitate the management of third parties, internal assessments, as well as payment, expertise, appeal and closing operations.

They also seek to reduce Costs related to claims managementin particular by automating certain processes, like the compensation of the insured.

What solutions?

With a claims management softwareit is possible to consult the state of each disaster in real time, but also to modify it with one click. Grouped within the same platform, claims can be easily found, but also linked to events. Automation features also make it possible to reimburse the insured without any action on the part of the company, for basic risk covers.

Regarding reinsurance, a claims management solution makes it possible to optimize the retroceded amounts by better framing the duration of each event, in order to obtain the best possible recovery. Events and claims can also be quickly linked to several sellers, which greatly facilitates their management.

The accounting of insurance companies

What issues?

Insurance companies are subject to accounting rules specific and supervised by law. Indeed, when they define the price of a service (that is to say an insurance premium), they do not know its real cost (namely the allowances which will be paid to the insured in the event of a claim).

As part of its accounts, an insurance company must therefore record:

• Revenues related to each contract, that is to say the premiums received.
• Costs linked to claims which have been actually found (allowances).
• But also the costs that have not yet materialized: this is called provisions.

What solutions?

By having specific software, the insurance company is able to configure and personalize your accounting schemeswith an automatic generation of literatures of the entries. Enough to simplify the registration of costs, recipes and provisions.

THE technical accounts Intended for sellers, reinsurers or brokers can also be automated, with personalized periodicity. The insurer thus obtains a global and cumulative vision, from the outset, of its technical accounting.

It is also possible to generate, en masse, different types of reinsurance accounts within the framework of a closure: estimated accounts, provisional bonuses, appeal to cash, final accounts, etc.

Why adopt a 100 % integrated claim insurance management solution?

To meet its different needs related to contracts, claims, reinsurance or accounting, an insurance company has the possibility of adopting several dedicated software. But she can also opt for a Global sinister insurance management solutioncomprising several modules: this is called an integrated system.

Indeed, This complete ecosystem incorporates subscription, claims management, accounting and reinsurance within the same platform. Users can easily navigate from one module to another without loss of bearings. Only one login, a single interface, for an optimal user experience.

And this is just a taste of the many advantages offered by an integrated system. A claims management solution also allows:

• To guarantee the integrity and quality of the data.
• To simply reconcile technical and accounting data.
• To strengthen security.
• To improve the consistency of standards.
• Reduce IT development costs, as the integrated system is generally controlled by the same teams.

Moreover, by choosing a business solution specializing in IARD insurancethe insurance company can count on the know-how of a publisher who knows its specific needs perfectly, but also the latest regulatory developments in the insurance sector.