innovative insurance solutions

Transcription

1 innovative insurance solutions

2 Customer focus and dedication are our key priorities. Our clients use our systems, skills and e-trading guidance to meet the challenges of an ever evolving insurance market, and to achieve growth and success. Lee Stuart Director, Cover.Net

3 innovative insurance solutions Welcome to Cover.Net. Cover.Net is a specialist provider of financial software to insurance companies, MGAs, underwriting agencies and brokerages. Established in 1995, we are now recognised as a leading provider of innovative, high-quality software solutions that provide our customers with unrivalled sales and administrative control and speed-to-market. Cover.Net s first fully hosted sales and administration insurance system was released to market in 2001, and we have been innovators in web-based insurance software throughout our history. The insurance industry is a constantly shifting environment, with new challenges always around the corner. Through our key principles of innovation, customer service and quality we enable our clients to meet those challenges with confidence, replacing inefficiencies with effective process and growth. cover.net Innovative Insurance Solutions 1

4 ISMIS connect control deliver Internet Sales and Management Insurance System ISMIS is the most complete, powerful and flexible solution of its kind in the insurance market. The ISMIS system is designed for MGAs and other product providers to sell and administer their product lines. This can be via the broker channel, directly to the client or via integration with aggregators and comparative brokerage systems. The platform is an entirely internet-based, fully-hosted solution. This negates the need for any specialist hardware or software on the part of our users. Built with scalability in mind, the ISMIS system architecture enables incredible speed-to-market for new builds and ongoing change and maintenance. Sales The ISMIS system provides full pointof-sale functionality for intermediaries to quote, transact and produce high quality policy documentation for new business, mid-term adjustments, cancellations and renewals across a range of product types and business lines. The platform is an entirely internet-based, fully-hosted solution. Business can also be submitted by bordereau imports, real-time XML rating requests from aggregators and comparative broker systems, and by industry standard Polaris EDI messaging. Products can also be adapted and branded for selling directly to the client. The system has a unique multi-language framework in place to allow use in any language and supports multiple currencies. Payment options available on the system include credit card processing and instalments. Administration ISMIS ISMIS also serves as a full policy management back-office for underwriters and insurers to administer business sold on the system. All quotations and transacted policies are available immediately in the back-office administration area. Referred quotations can be dealt with in real-time electronically between underwriter and intermediary. Rate changes can be put in place by the underwriters themselves, and come into effect immediately or by effective date. 2

5 Accounts The ISMIS platform supports full online and immediate accounts reconciliation between broker and the underwriter (underwriting agency/ MGA/insurer), and between underwriter and the insurer granting capacity. Reconciliation can be performed quickly and seamlessly for large volumes of transactions via the web based ISMIS accounts module. The account detail can also be exported to excel for offline working and re-imported into ISMIS. Claims The ISMIS claims module handles the entire claims process from first notification of loss (FNOL) to completion. The claims module is fully integrated with the policy administration and management information areas of the platform to ensure all relevant claims data is available when processing policies and reporting. MI and Business Intelligence ISMIS provides a standard suite of management information as well as bespoke reports across all areas of the system - sales, underwriting, accounts and claims. Feature rich, real-time and on demand management information provides our clients with the tools necessary to analyse their business effectively and react quickly to changes in market conditions. Business Lines We have built products across an extensive range of personal and commercial lines: Household Office Classic Car Cargo Sports & Social High Net Worth Portfolio Holiday Home Surgery Liability Landlord Professional Indemnity Non-Standard Household Motor Trade Tradesman Health Private Car Property Owner Shop Commercial Vehicle Motorbike Pet Motor Fleet Travel Taxi Marine Personal Accident Community Apartment ISMIS Internet Sales and Management Insurance System 3

6 CHIME innovative claims management Claims Handling Information Management Engine CHIME CHIME is Cover.Net s fully-hosted, web-based claims management platform, providing a complete and flexible solution from first notification to settlement. The platform has been designed for, and alongside, claims management companies and insurance companies managing the claims process in-house. Claims Capture CHIME supports the full capture of all claim and policy related data, including third parties and external companies involved in the handling processes, via an intuitive web based interface. Auditing and Compliance A full audit trail and diary of all changes, financial movements and actions carried out on the system are available at a glance. Claims screening questions provide a first line of defence in fraud detection and prevention. Finance and Accounting CHIME includes a comprehensive point-in-time financial movement editing suite, allowing addition and editing of reserves, payments and recoveries throughout the claim life-cycle. The system handles settlement of payments to payees and batch payees at the push of a button. Document Management The platform supports integration with both third-party document management solutions and existing back-office systems of clients to allow the filing and recall of all documentation associated with the claim. MI and Business Intelligence A full audit trail and diary of all changes, financial movements and actions carried out on the system are available at a glance. Standard, bespoke and ad-hoc management information is available on the CHIME platform allowing our clients both high-level overviews and in-depth analysis of their business. 4

7 CONTACT Cover.Net provide a range of software development and consultancy services to the insurance industry, from fully-hosted sales and back office systems to bespoke software builds. For further information on how Cover.Net can help your business, or to arrange a demo of our platforms please get in touch using any of the below: Call +44 (0) info@cover.net Website Address Cover.Net Head Office Sandel Village Centre Knocklynn Road Coleraine United Kingdom BT52 1WW

8 Cover.net Head Office Sandel Village Centre Knocklynn Road Coleraine United Kingdom BT52 1WW t: +44 (0) e: w: Registered Company Number: NI Copyright Cover.Net Limited