SIBAGEN CORE INSURANCE SOLUTION

Transcription

1 CORE INSURANCE SOLUTION Introductory User Manual (Motor and General Underwriting) Release October 2015 BIC Technologies Company LTD. Page 1 of 37

2 2 ND Floor, Anum Yemoh Plaza Lagos Avenue, East Legon Accra Ghana Copyright 2015, BICT and/or its affiliates. All rights reserved. This software or hardware is developed for general use in a variety of information management applications. It is not developed or intended for use in any inherently dangerous applications, including applications that may create a risk of personal injury. If you use this software or hardware in dangerous applications, then you shall be responsible to take all appropriate failsafe, backup, redundancy, and other measures to ensure its safe use. BIC Technologies and its affiliates disclaim any liability for any damages caused by use of this software or hardware in dangerous applications. This software and related documentation are provided under a license agreement containing restrictions on use and disclosure and are protected by intellectual property laws. Except as expressly permitted in your license agreement or allowed by law, you may not use, copy, reproduce, translate, broadcast, modify, license, transmit, distribute, exhibit, perform, publish or display any part, in any form, or by any means. Reverse engineering, disassembly, or decompilation of this software, unless required by law for interoperability, is prohibited. The information contained herein is subject to change without notice and is not warranted to be error-free. If you find any errors, please report them to us in writing. This software or hardware and documentation may provide access to or information on content, products and services from third parties. BIC Technologies and its affiliates are not responsible for and expressly disclaim all warranties of any kind with respect to third-party content, products, and services. BIC Technologies and its affiliates will not be responsible for any loss, costs, or damages incurred due to your access to or use of third-party content, products, or services. BIC Technologies Company LTD. Page 2 of 37

3 TABLE OF CONTENTS Table of Contents INTRODUCTION TO GENERAL CORE INSURANCE SOLUTION... 5 GENERAL UNDERWRITING TRANSACTION FLOW DIAGRAM... 6 Types of Underwriting Workflow Risks Basis Location Basis... 7 STARTING AND LOGIN... 7 MODULES... 8 HOMEPAGE... 9 Menu Links Dashboard Sign Out Log In User QUOTATION AND POLICY MENU MOTOR POLICY HEADER UNDERWRITING FLOW Company Channel Product Office Subclass Insurance Source Business Source Currency Start and End Dates Policy Days UW Year Customer Details TPI Interest Commission Policy Reference Number Quotation/Policy Number Endorsement Number MOTOR RISKS VEHICLE DETAILS Motor Risks Premium basis BIC Technologies Company LTD. Page 3 of 37

4 Registration Number Make Model Body Type Manufacturing Year Chassis Number Additional Info Issue date Retro Date Risks Start and End Date Policy Duration Number of seats NCD Years and NCD% Cubic Capacity and CC load % Buy back excess And Deductible Excess % Increased TTPD and Extra TTPD SI Add New/Update/Clear and Copy Action Buttons RISKS COVERS Cover Code and Cover name Sum Insured Rate Gross Premium Net Premium Cover Level Loading and Discount Action buttons Get Default Covers Refresh Calculations RISKS DISCOUNT/LOADING Discount/Loading Code Discount/Loading Name Percentage Calculation Level POLICY APPROVAL PROCESS Save Policy Summary Applicable Fees Policy Processing Confirm Unconfirmed Approve Policy BIC Technologies Company LTD. Page 4 of 37

5 Endorse Policy Cancel Endorsement Policy State Changes Policy Documents Policy Schedule CHAPTER ONE INTRODUCTION TO GENERAL CORE INSURANCE SOLUTION Core Insurance solution is a fully integrated general insurance solution covering the entire insurance business cycle from underwriting and claim management to reinsurance and accounting. is designed to offer flexibility to insurance companies for easy adaptability to market needs and also enables them to improve their overall operational efficiency. ensures quick, accurate and easy access to information by adopting a parametric approach to management of insurance business by deployment through client-server and web-based technologies. The application enables seamless integration with other SIBA application suites such as SIBA-web portal suite, SIBA-mobile and SIBA-business intelligence reporting tool with a single login and multiple platform channel capabilities for customers, agents, and banc-assurance is a multi-currency system built on a powerful base of a flexible architecture. It uses one of the most reliable and leading technology platforms. is developed on Client/Server distributed architecture, which uses the Oracle or DB2 relational database and offers unlimited freedom to any insurance company to choose any leading UNIX or IBM or Windows based hardware. With our flexible product configuration engine, users can define as many products as they want. The system is user-friendly, with a uniform interface throughout the modules and availability of alerts, notifications and on-line help text. Labels and messages can be instantly modified by the end-user to suit the company terminology. Among the classes of business that are readily available in system are 1. Motor BIC Technologies Company LTD. Page 5 of 37

6 2. Fire and Property 3. Homeowners 4. Travel 5. Liability 6. General Accident 7. Personal Accident 8. Engineering 9. Marine Cargo 10. Marine Hull 11. Aviation 12. Oil and Gas 13. Others This documentation is focused basically on underwriting. underwriting module comprises of general operations of underwriting department such as entry of Quotation, conversion of quotes to policy, master policy transaction, commissions, endorsements, renewals with general document and production reports. GENERAL UNDERWRITING TRANSACTION FLOW DIAGRAM Pol. Excess Policy Detail Pol. Discount & Loadings Coinsurance Leader Coinsurance Member FAC Inward Commission Risk Details de Risk Covers Pol. Conditions and clauses Cover Excess Cover Discount & Loadings Risk Excess Cover Excess Risk Discount & Loadings Loc. Covers Location Details // Cover Discount & Loadings Risk Details de Risk Conditions and clauses BIC Technologies Company LTD. Page 6 of 37 Risk Covers Cover Excess Cover Discount & Loadings

7 Types of Underwriting Workflow 1. Risks Basis Policy Risk Covers 2. Location Basis Policy Location Risk Covers CHAPTER TWO STARTING AND LOGIN You require the necessary rights and privileges to start the software. To start : Step 1: Type the URL in the address bar, and click. For example, the address may look like STEP 2: Click the Sign in as indicated in the arrow below BIC Technologies Company LTD. Page 7 of 37

8 Enter User id and password to login NB: All the characters you type in the Password field will appear as **** for security reasons MODULES As illustrated above once successfully log into the system, the various modules will show in the based on rights granted to each user. There can be as many modules as required during access level customization based on each client s request. Eg of modules are: 1. Insurance 2. Accounts 3. Reinsurance 4. Claims 5. Settings BIC Technologies Company LTD. Page 8 of 37

9 HOMEPAGE Once log in successfully into the system, based on the rights and access user is able to see the below homepage. BIC Technologies Company LTD. Page 9 of 37

10 Menu Links The menu link is illustrated with number 1 in the homepage allows for easy navigation from one working form to another. User can only access any of the main and sub menu links based on his/her rights Dashboard All summary level information is contained with pictorial and diagram illustrations. Dashboard is also rights restricted as per each user contents Sign Out This will allow user to sign out of the application Log In User Each log in user is displayed automatically on the homepage and all other pages CHAPTER THREE QUOTATION AND POLICY MENU Click Underwriting >Quotation will bring you all the products for selection as indicated below BIC Technologies Company LTD. Page 10 of 37

11 MOTOR POLICY HEADER UNDERWRITING FLOW Click Underwriting Policy to go to motor policy menu as illustrated below BIC Technologies Company LTD. Page 11 of 37

12 Company Click on LOV (List of values) to select the company. This facility is there to allow for underwriting from an international institution with same company in different countries. In this case Multi insurance will be defaulted as company Channel Click on to select appropriate channel for underwriting. Channels are to allow for the usage of the application by different operating units. Eg. Underwriting channel, Banc assurance channel, Agency/Broker channel etc Product This does not allow for selection. System automatically default to motor product as indicated above Office Click to select the operating office or branch for user. Users mapped to their offices will have their office automatically defaulted BIC Technologies Company LTD. Page 12 of 37

13 Subclass This LOV will allow user to select the various subtypes of motor product as illustrated below: Insurance Source The insurance source refers to the various ways Multi insurance accept business from other insurance Companies. Click on the insurance source LOV sources and select the applicable one thus: to display the various insurance NB. Note the below of the various insurance types: 1. Direct Choose this when Multi Insurance is the Primary Insurer( Normal Business from walk in clients, Brokers and Agents) 2. Inward Choose this when the business is from another insurance company as Facultative Reinsurance (FAC inward business) 3. Coinsurance Leader Choose this when Multi Insurance is Coinsuring with another insurance company and is acting as a leader or taking a greater % of the risk BIC Technologies Company LTD. Page 13 of 37

14 4. Coinsurance Member Choose this when Multi Insurance is Coinsuring with another insurance company and not the leader or not taking a greater % of the risk Business Source This field allows you to select the source of business or means by which the business comes to Multi Insurance. Click the LOV to select the appropriate: Currency Click to select the currency in which the policy is being issued with the appropriate rates as indicated as indicated below: NB. The default currency is the base currency (Ghana Cedi-GHC) Start and End Dates The start date and end date are used to indicate the policy cover period. NB. The start date is defaulted to system date (Today s date) The system comes with an intuitive and eases to use date picker calendar as showed below: BIC Technologies Company LTD. Page 14 of 37

15 Policy Days This is automatically defaulted in the system using the number of days between the start and end dates. UW Year UW Year is automatically defaulted in the system Customer Details For a customer that does not exist, click on the button to go through the customer registration process. NB. Address, Tel No., Mobile No and DOB (Date of Birth) of client are all automatically populated once a client is selected. TPI Interest The TPI interest field is defaulted to the Client name selected. This field print on the policy schedules. The field is editable. For normal clients leave the name as it. If the name to appear on the schedule is different from the client name, then edit the field as appropriate. Such situations may arise in the scenarios where there is: - Interest on the policy by a Bank or financial institution - Joint Ownership of a property - A property sold but not yet transferred In these scenarios: Register only one name and in the Assured field add the joint name separated by / as below: BIC Technologies Company LTD. Page 15 of 37

16 Eg. Client name: John Mensah Interest Party: Multi Credit Bank Assured Name: John Mensah/ Multi Credit Bank Commission For policies with Agent/Broker as source of business, the commission button is enabled for users to confirm the entry details of the agent/broker as illustrated below: 1. Click on to open the commission menu. At Agent/Broker LOV open the below to select the applicable agent 2. Once an agent/broker is selected, system automatically enters the name and commission % based on the commission setup done. Note the below action button after adding the agent/broker Click on to add the selected agent/broker to the grid. If agent/broker is already added click on based on user s right to update the already added agent/broker to the grid BIC Technologies Company LTD. Page 16 of 37

17 Click on user s right Click on to remove an already added agent/broker to the grid based on to refresh the data on the grid Policy Reference Number Once a policy is saved successfully for the first time, a policy reference number will be generated. This number is a unique number of the policy which is also referenced in policy/quotation number, endorsement numbers etc Quotation/Policy Number This number is also generated on first save of a quotation or policy.this number is printed on document printouts (Policy Schedule, Endorsement Schedule, FAC closing Slip, FAC Offer slip, Covering letter, Debit notes, Credit notes, Claims credit note, and Renewal notices) Same format is used for quotation excerpt a suffix type of Q is used to replace P Endorsement Number This is used for endorsement count on the policy Renewal Number This is used for renewal count on the policy BIC Technologies Company LTD. Page 17 of 37

18 MOTOR RISKS Click this tab to continue entry on the vehicle details, the risks cover, loading and discount, excess, accessories and other details specific to the vehicle BIC Technologies Company LTD. Page 18 of 37

19 VEHICLE DETAILS Clicking on the vehicle details takes you another window as illustrated below: Main details of the vehicle captured here are the risks type, make& model, body types, usage dates, number of seats, NCD, excess and other information that affects the tariff ratings of the policy BIC Technologies Company LTD. Page 19 of 37

20 Motor Risks This refers to the actual risks being insured. Note that calculations of premium and certificate wordings are all based on risks type selected. At clicking the LOV the below window will open with different risks types for selection: Premium basis There are three basis on which premium calculations is done thus, Pro Rata, Short Period and Flat Premium ProRata method calculates policy Premium over 365 days (one year) while the Short Period method calculates Premium based on a scale of rate over a period of Months. e.g Period not Exceeding: 1 Month = ¼ of Annual rate 2 Months = 3/8 of Annual rate 3 Months = ½ of Annual rate 4 Moths = 5/8 of Annual rate 6 Months = ¾ of Annual rate 8 Months = 7/8 of Annual rate Period Exceeding 8 Months = Full Annual Premium Flat premium allows user to over-write any premium calculations based on rights and authorization Registration Number Enter the Vehicle Registration number here (e.g GE ).When the same registration number exists in the system, there will be a warning message. BIC Technologies Company LTD. Page 20 of 37

21 Make Click on the make LOV to select the appropriate make of the vehicle Model Click on the model LOV to select the appropriate model of the vehicle Body Type Drop down on the body type field to select the appropriate body type of the vehicle Manufacturing Year Enter the appropriate year of manufacture of the vehicle Chassis Number Enter the applicable chassis number of the vehicle Additional Info This is used to ask client about his/her engagement with other insurance for risks assessment purpose. Check Yes/No for the questions and give further descriptions accordingly Issue date The Issue Date is defaulted to the system date (Today s Date). For policies which start date is today or in the future, the Issue Date is always the defaulted date ((Today s Date). BIC Technologies Company LTD. Page 21 of 37

22 ***For backdated policies (Cover notes from brokers Agents), the Issue Date should always be the Policy start date. Retro Date This is to indicate effective date of back dated policies Risks Start and End Date Risks Start and end date are used to indicate the risks cover period. NB. Risks dates are defaulted to policy start and end dates selected earlier on policy header Policy Duration This is automatically defaulted after entering Risks start and end date Number of seats This field refers to the number of seats of the vehicle being insured. It is used for extra seat premium calculations. NCD Years and NCD% This field allows you to apply the NCD during the time of underwriting. Use 1, 2, 3. For first year, second year, third year no claims discounts respectively. Thus if you want to apply first year NCD% enter 1, If you want to apply second year NCD% etc. Once the field is entered, the system will automatically select the appropriate NCD % at the NCD % field accordingly. Cubic Capacity and CC load % Drop down on the field to select the applicable cubic capacity of car. Once a cc type is selected, the system will automatically default the value for the cc load % BIC Technologies Company LTD. Page 22 of 37

23 Buy back excess And Deductible Excess % For Motor, Deductible Excess is only applicable for Comprehensive and TP Fire and Theft Policies. To apply or verify the Excess click on buy back drop down button as showed above If the buy back drop down option selected is Yes, system will automatically activate the deductible excess % LOV to select the percentage applicable as showed below: Increased TTPD and Extra TTPD SI When a client requests for additional TPPD, select Yes option at the Increased TTPD drop down and enter the sum insured at the Extra TTPD SI option. By default the Increased TTPD drop down will be defaulted to No Add New/Update/Clear and Copy Action Buttons BIC Technologies Company LTD. Page 23 of 37

24 NB: When adding vehicle to a grid, the below warning pops up for guidance. Click yes or otherwise to continue: BIC Technologies Company LTD. Page 24 of 37

25 RISKS COVERS This menu is used to enter the various applicable covers for each product and usage selected and also calculate premium for each of the covers based on the rates applied on the sum insured. BIC Technologies Company LTD. Page 25 of 37

26 Cover Code and Cover name The cover code and name are automatically populated for each product and usages based on the setup made. It can also be allowed to be selected. This uniquely identifies each cover applicable for a particular product. Eg the below covers are mostly associated with Motor comprehensive products: 1. Vehicle Value 2. Third Party Body Injury /Death Standard Limit Cover 3. Third Party Property Damage and Standard Limit (TTPD) 4. Additional Perils 5. P A Benefits Sum Insured The sum insured of each cover is entered here. The amount is entered as per the sum Insured of each vehicle Rate The rates for each cover are defaulted. It can be changed based on user s rights Gross Premium This field indicates the basic premium. ie. The original premium is always = SI *Rate. Net Premium The Net Premium is the same as Gross Premium if no discount and loadings are applied at SMI level. If there is discount and loading, the effective premium after applying after applying loading or discount will be on the Net Premium whilst the Gross Premium remains same thus SI* Rate Cover Level Loading and Discount This feature will be used for covers for which loadings or Discount is applicable only at cover level. BIC Technologies Company LTD. Page 26 of 37

27 Action buttons Click on the below buttons as per each action once done with premium generation for each cover. Add Cover Use this to add a cover from the cover LOV Update Cover Click this button to update the defaulted cover after making changes on the premium or SI or rates Remove Cover Click on this button to remove a cover from the grid Reset Use this to restore any changes made on a cover Get Default Covers This facility is used to automatically add all default covers for each product as per setup done Refresh Calculations For some reasons where premium is not calculated after leaving the rates field, click on the Refresh Calculations button to see the premium real time.once done click on the default Add Cover, Update, Remove and Reset transaction control buttons to appropriate actions. BIC Technologies Company LTD. Page 27 of 37

28 RISKS DISCOUNT/LOADING For products for which Risks level Loading and Discount is applicable, follow the below process to get it completed BIC Technologies Company LTD. Page 28 of 37

29 Discount/Loading Code Discount/Loading Name Click on this LOV to select the discount/loading code and name to as showed below: Percentage Enter the applicable percentage value for the loading/discount. It will be defaulted for some loading/discounts based on the setup Calculation Level At this calculation Level field, enter 0,1,2,3 as explained below: 0 when the Discount/Loading is to be applied on the Basic premium 1 when the Discount/Loading is to be applied on the net Premium after applying Disc/Load at level 0 above. 2 When the Discount/Loading is to be applied on the net Premium after applying Discount/Loading at level 0 and 1above 3 etc BIC Technologies Company LTD. Page 29 of 37

30 CHAPTER FOUR POLICY APPROVAL PROCESS Policy approval in goes through the below processes: Save After capturing the above information, you may save before continuing. To save the transaction or changes, click on the save button Sometimes the policy may not save because more information such as the policy Sum insured and Premium are required. In such situations continue then return later to save the transitions. NB: If you save for the first time, the policy reference numbers and policy/quotation numbers are generated in the Sequence Number and Policy number fields respectively. These numbers should be noted down for future references to the policy BIC Technologies Company LTD. Page 30 of 37

31 Policy Summary Once a policy is saved, use this tab to verify the policy level Premiums, Excess, Discounts, Loadings and Fees/Charges after you have entered all the information at the policy header, risks cover and discount/loadings as illustrated below: Applicable Fees This tab is used to verify only fees and charges applied on the policy. BIC Technologies Company LTD. Page 31 of 37

32 Policy Processing Once all the underwriting steps are done, Premium and schedules verified to be ok, then click on this to process the policy. NB. Confirm If this option is chosen, RI allocations are placed automatically during the policy processing stage. Once policy is confirmed, system will not allow any level of modifications or changes Unconfirmed This automatically reverses the confirmation. Approve Policy This is chosen to complete the policy processing process where accounting entries are passed for both underwriting and RI BIC Technologies Company LTD. Page 32 of 37

33 Endorse Policy This is used to do either passed financial or non-financial endorsement only when a policy is approved successfully Cancel Endorsement This is used for only Cancellation endorsements Policy State Changes Colors of labels changes as showed below during the policy approval process: BIC Technologies Company LTD. Page 33 of 37

34 Policy Documents comes bundled with default policy documents such as Policy Schedule, Endorsement Schedule, Debit Note, Credit Note and Certificate Policy Schedule This can be run after save of a policy. Select Policy schedule and click on the to view report the report as showned below: button Running Schedule Policy ID is defaulted automatically Click on the Endorsement No. to select appropriate number of endorsements on a policy Click on the view to run the reports BIC Technologies Company LTD. Page 34 of 37

35 Sample Reports after saving Sample Debit Note after approval BIC Technologies Company LTD. Page 35 of 37

36 After approval BIC Technologies Company LTD. Page 36 of 37

37 BIC Technologies Company LTD. Page 37 of 37