INSMAN

iFACTS INSMAN - Web based software supporting the insurance management process for Captives and self insured.

iFACTS INSMAN supports the insurance process including production of insurance policies, invoicing, claims management, inspections and the renewal process.

Benefits:

• Control of the entire insurance process in one integrated workflow, avoiding information being scattered in documents and spreadsheets with no interconnection.
• By controlling the insurance process in one integrated workflow, reports and statistics are just a keystroke away (premium reserve, submission, claims report etc.) 
• Business continuity. When the entire insurance process is integrated in one standard software it is less challenging to replace personnel or external services. Standard procedures, manuals, help texts, education and training and insurance history are available in the application.
• Invite external parties directly into INSMAN and avoid separate systems and reporting that is out of your control and not integrated. For example reinsurers, brokers, inspectors or claims administrators accessing loss data, changes of EML values or performing survey and underwrite report.
• Experience from customer implementation shows that there often is a drastic cash flow improvement. The integrated workflow ensures that invoices are distributed in time and often payment is settled before the reinsurance premium is due.
• The complicated and administrative Renewal process can be facilitated in a completely new way. Example of such tools are: Communication center to gather values, integrated loss prevention and instant access to risk score and loss history, premium modeling to simulate different insurance settings and the Report generator to produce the submission report with a key stroke.
• Savings on the Reinsurance premium. 1) Demonstrating the structured procedures of managing the insurance process and systematic loss prevention, will give a discount on the reinsurance premium. 2) By controlling the insurance process you are independent from any third party and the reinsurance tender can be exposed for competition.
• Share experience with others in the INSMAN network that is using the same integrated approach.