Effective Control Features
The following are control features which are available with the e-Cover Online Insurance portal
- Access/ Log-in Control
The e-Cover system enables the principle to determine the screens accessible to its users. User login can be controlled by preset log-in times for staff of an agency or other users. The system also allows the Principal to deactivate accounts that are inactive/black listed and determine what cover notes and the quantity an agent can issue.
- Management of Intermediaries
e-Cover allows the Principal to control its intermediaries by configuring restrictions such as credit limits, sum insured, type of insurance class, payment patterns and other parameters.
- Black Box Underwriting
With e-Cover, the Principal can pre-determine simple underwriting rules to automatically decline or refer certain types of risks for faster processing of insurance applications.
e-Cover provides flexibility whereby underwriting rules can be applied not only on a global basis but also to agents based on a geographical location or by group/type.
- Underwriting Intervention
e-Cover’s Principal administration module allows the underwriters to manually intervene and provide input for more complex cases to determine whether it is a risk that the Principal should undertake.
- Cover Note Submission Control
e-Cover enables the Principal to confirm and review each submission of cover note for control purposes.
- Payment Management
The Principal can control the methods of payment the intermediaries are allowed to use, namely: Cash, cheque, credit card, cash/debit cards and e-payment. Additionally, each transaction detail can be tracked and matched to the actual payment received for reconciliation.
- Offline Payment/Collection Tracking
Offline payments made by agents using cash, cheque or credit card can also be tracked and reconciled as the e-Cover system allow details of these payments to be recorded online.
- Cash Before Cover (CBC) Control
The system allows the Principal to monitor premium payments received for motor insurance. Agents that fail to make payments within the stipulated time will be barred from performing further transactions through e-Cover. The Principal is able to set the CBC rules by calendar or working days.
Agents will be able to print receipts for the premiums received from policyholders using the receipting functionality. This is a value added feature that makes it convenient for the agents to issue auto-generated receipts instead of manually written ones.
- Security Digit Checksum
e-Cover’s internal security algorithm generates a unique series of number based on the transaction details and this will be printed on the insurance certificate. At any time, the Principal or policyholder will be able to verify the authenticity of any policies issued.