Client Administration
Full client administration processing allows for the flexible processing of data on
personal or commercial clients. Clients may appear in their own right or may be
added as part of the policy processing.
Quotations
Quotations may be produced and stored on the system to any product specification.
If the quotation is taken up it can be easily converted to a policy. A
comprehensive quotation statistics facility is available to analyse the take up rates of
new business. Multiple product quotations can be designed to allow premium and risk
comparison of alternative products.
Business Capture
Product enquiries may be registered and analysed by business source. Enquiry
details can be input quickly to allow telephone sales operations to be performed
efficiently and effectively.
Policy and Risk Administration
Comprehensive policy administration processes all types of insurance business.
These comprise new business, mid term adjustments, cancellations and automatic or manual
renewals. Full policy history can be maintained. The policy cycle includes:
- premium and commission calculation using table driven, user definable rates and rating
factors
- totally flexible risk storage and administration
- table driven underwriting rules
- user definable policy documents, schedules and certificates.
Claims Management
All claims are stored against the policy and use policy history to record the claim
against the relevant policy picture. Claims may be logged against individual risk
lines for detailed analysis. Full claim estimates, payments and recovery processing
operates with a cheque production interface and automated authorisation procedure.
Claim settlement statistics and premium/claims analysis tools are available to analyse the
performance and profitability of insurance products.
Accounts
Client and agent accounts record every premium and commission item calculated for
reconciliation and settlement purposes. Accounts may be structured in a variety of
ways using geographical or product classification splits. All payments made to or
from clients or agents may be processed and recorded against the original debt. A
comprehensive range of standard account reports is available.
Agency Management
Multiple and single agent details can be stored together with information on special
scheme arrangements with affinity groups. The agent is traceable throughout the
system and is integrated to allow identification of important business information
relating to profitability and performance.
Management Reporting and Statistics
A comprehensive suite of management reports and statistics describes performance and
profitability information at various levels. The data structure allows the
information to be compiled in a variety of ways. A full range of standard DTI
insurance business reports are available.
Marketing
Users can either interrogate the marketing database to determine the applicability of a
particular product or, conversely, can analyse the database to design appropriate affinity
products. Once a campaign is instigated, the enquiry rate and business gained is
monitored and analysed against budget, to determine its success.
Nominal Ledger
QUASAR contains a fully integrated nominal ledger which can be designed by the user.
All account transactions generated by QUASAR are posted to the ledger. Links
are also available to allow QUASAR nominal ledger transactions to be posted to third party
centralised general ledger systems.
Reinsurance
The QUASAR reinsurance module allows treaties and facultative arrangements to be
processed automatically at risk level. Reinsurance recoveries are logged during
claims processing. |