Renewal portal

iFACTS INSMAN - Renewal - To renew the insurance program.

The renewal of an insurance program involves many different variables. In INSMAN all these activities are done in the Renewal portal.

Example of renewal activities:

• Update insurance values and information.
• Submission report.
• Simulation of settings (stop loss, self retention).
• Reinsurer premium.
• Premium allocation (Risk score, Losses, Rates, Subjective factors).
• Captive result.
• Invoicing.

The Communication center is used to collect insurance values and other information. The submission report is sent to Reinsurer and a premium proposal is returned. When the Reinsurer premium is accepted the premium is allocated taking several parameters into account such as risk score, catnat or losses. This gives the projection for the Captive result. Finally the premium is allocated and invoiced.

INSMAN Renewal portal functionality

Renewal Portal where all information is centralized and accessible.

Communication center to update values, reminders and other activities.

Premium calculation automated taking all the allocating parameters into account.

Currency support, dynamic registration of currencies and exchange rate including external rate import.

Info bar displaying essential information such as insurance line status, locked policies, invoiced polices and to be invoiced.

Reinsurance panel  to show which reinsurer that takes which layer. Connected to claims management and cash call function.

Captive result simulation   Simulation of result altering values such as reinsurer premium, stop loss, self retention, loss projection.

Report generator  a wide variety of reports/settings can be created and saved as templates.  All of these reports can be exported to Excel, Word, PDF, Text. For example changed values, EML trend, claim cost chart.

Search can be conducted according to selection on all registered data, for example, organization, type, status, category, line etc.