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How the system works?
IIMS is a complete web-based end-to-end solution enabling the insurer to manage its customers at all phases of their policy life-cycle from front-end and back-end management to module management and submission management.
At the front-end, it manages activities such as quotation or proposal, underwriting, reinsurance, claims, online agency management, accounting, enquiry & analysis and risk accumulation.
At the back-end, daily activities including policy and customer management, cover note control, policy renewals, financial system, updating & reporting and backup & recovery are managed by the back-end management modules.
Its various modules allow for the tracking of agents profit commission, RFUR, treaty accounting, SMCD, IBNR and premium warranty to ensure that adequate statutory reserves are being provided and that the insurance company’s operations conform to regulatory guidelines. Other modules cater cheque outsourcing, risk accumulation on a real-time basis, etc.
The submission management modules provides for various statements and reports, which are required by management, industry and regulatory bodies.
IIMS is designed to suit existing processes of insurers and supports the entire value-chain of the business (agents, brokers, suppliers, internal departments, users, customers and regulators).
The following diagram represents an overview of IIMS.
IIMS is designed to be implemented across all business units and product lines of a general insurance company.
Its flexible architecture allows the system to adapt to changing business conditions and requirements. The system is very agile and has the necessary speed to market to maintain the competitiveness of the company. The scalable architecture allows the solution to be implemented for companies of various sizes, and supporting their subsequent growth.