The customer-centric e-Cover Online Transaction Portal (“e-Cover”) is offered as
a Software as a Service
(“SaaS”) solution to the insurance industry. This has helped to address the various issues
arising from the biggest
concerns in IT investments, namely the high capital expenditure, difficulties in retaining
IT expertise, the
technology risk, and the high costs of operating and maintaining IT systems. The e-Cover
system is charged on a ‘pay
per use’ basis.
The e-Cover system has all the functionalities to support agencies of any size. It enables
the bigger agencies to
work in a collaborative manner while enabling the smaller ones to have similar
functionalities as the ‘big’ boys.
All the features use the common and familiar interface and the same mode of access. This
- Quick time-to-market
- Easy and instant implementation
- Ease in learning to use
The e-Cover connectivity to various parties, allow seamless services to be offered to its customers. Furthermore,
e-Cover not only provides end-to-end solutions electronically, creating a paperless environment which helps reduce
the inefficiencies of the current manual processes, it allows insurance policies and confirmations to be printed at
the point of sale.
The e-Cover system was awarded the Asia Pacific ICT Alliance (“APICTA”) Merit Awards for the local and international
“Best of Financial Applications” categories in 2006.
How Does The System Work?
Easy Set Up - The insurance company or Principal would need to carry out
a one-time set-up of the
agents’ codes, and the underwriting and credit rules. Once these have been done, and the
agents have been registered
and provided with their User IDs, the agents can start carrying out their business on-line.
Once logged in, the agents are able to carry out end-to-end transactions for new insurance
policies or for renewal
cases. The agents can view completed transactions as well as policies due for renewal.
The e-Cover system allows the agents to transact all approved classes unless there is a
breach in the set business
guidelines, for example non-payment of premiums, Cash Before Cover violation, breach of
authority limits or credit
terms, etc, or any combination thereof. The e-Cover system can help to immediately prevent
the Principal from
further exposure by the action of errant agents.
The e-Cover system can be easily integrated to any back-end system to allow straight through
processing of policies,
thus eliminating the need for double data entry.
The policyholder will approach the agent who will then log into the e-Cover system using his unique ID and password.
If the policyholder is the agent’s existing customer, the agent can quickly recall the policyholder’s details and
carry out the required transaction. Otherwise, the agent will need to create a new unique Customer Profile using the
Identity Card (IC) number or Company Number for individuals and companies respectively.
The agent will then select the desired class and proceed to issue the policy. As an example, the system has a number
of built-in checks to ensure that back-dating of policies cannot be done. Other checks on outstanding claims and
unpaid premiums can also be incorporated.
The Black Box underwriting capability will ensure that risks falling outside the insurer’s underwriting guide will
not be accepted. The premium will be calculated according to the insurer’s rating table.
The insurer can opt to allow underwriting intervention for non-standard risks. During this exception handling
process, the underwriter can be given an e-mail alert if there is a risk pending his attention. The underwriter can
then log into the e-Cover system to review the rates and terms for acceptance.
Once the risk has been bound, the agent can then proceed to make payment for the premium. On-line payments can be
accepted using credit cards, as the e-Cover system can be connected to the bank’s payment gateway. The system can
also provide a payment confirmation to the policyholder, if required. The e-Cover system can also send mobile
receipts via SMS right to the policyholder’s phone. Mobile receipts are timely and sent to the intended party.
Once payment has been approved, the agent can print a soft copy of the new policy in PDF format and e-mail to the
policyholder – a process that can be completed in minutes.
Upon the completion of the transaction, the e-Cover system will then send the insurance and payment details to the
insurance company’s backend system for posting to the statement of accounts.
The end-to-end processing capability ensures minimum account reconciliation problems.
The e-Cover modules were all designed with both the insurance companies and
agents (intermediaries) in
mind. Rexit has been continually adding new functionalities to provide the users of our
portal an added business
Key Functionalities include:
- Web-Based System
The e-Cover web-based application allows users to carry out transactions 24/7 anywhere.
- Straight Through Processing from Frontend
The data entry for e-Cover applications could be distributed to the attending agents or
intermediary, thus alleviating the need for additional administration and allows
straight through processing. Policies can be automatically processed and printing of
policy certificates can be done at the agent’s location.
- Daily Production Updates via SMS/E-mail
Participating agents and insurers have the option of having daily production updates
sent directly to their smartphones or, tablets for performance tracking.
Management of Agent’s Business
The e-Cover application has built-in personal productivity tools such as
calendaring, to do lists, renewal reminders etc for higher sales activity and
- Renewal Management
e-Cover’s Renewal Notice module allows the user to view impending renewals by date and
class, in addition to providing soft or hardcopies of the renewal listing on demand.
- Online User Manual
The online user manual provides easy access to information on how to use the e-Cover
- Electronic Bulletin Board
The e-Cover system Bulletin Board provides the Principal with an effective communication
tool for important updates or the latest news.
- e-Policy and Endorsements
Policies and endorsements can be printed in PDF formats for printing into physical
copies or to be delivered to the policyholder via e-mail. A security feature in the form
of an algorithm that generates a unique series of numbers for each document generated
provides the insurer with the means to authenticate documents and eliminate fraud.
- e-Statements for Agents
The e-Cover system is also able to provide electronic statements for agents, enabling real time tracking of
transactions and reducing printing costs.
- e-Payment Facilities
With connectivity to any bank’s payment gateway, the e-Cover application can accept
premium payments using credit cards or other electronic means.
- Exception Alerts
The e-Cover system is able to facilitate e-mail or SMS alerts to the designated
person(s) when a new insurance application is made or a new claim is registered.
- SMS Notifications
The Principal may utilize e-Cover’s SMS notification feature to communicate with its
customers or agents:
- Interactive function – Policy enquiry, commission statements, claims
enquiry, contests and campaigns.
- Broadcast function – Transaction status or confirmation, reminders,
due, commission paid, endorsement details, birthday greetings and promotion.
- Contact Management
The e-Cover Assist is a web based tele-sales support system which enables insurers and
agents to enhance their customer service offerings. Agents and insurers now have the
ability to call on their clients guided by a contact management system that facilitates
follow-up, renewal and payment processing. This feature allows better contact and
renewal management whilst minimising lapse rates of existing business.
- Company Branding
The e-Cover portal is fully customisable in terms of look and feel in order to present
the insurer’s branding to intermediaries and the general public. The Principal may use
their own URL address and users are allowed single sign-on access.
- Mobile Version
In order to cater to the growth and acceptance of mobile devices, the e-Cover is
currently available for both the Apple iOS and the Google Android operating systems.
Recognising the increasing use of tablets and large screen smartphones, Rexit is
progressively rolling out the mobile version to cater for the various classes, starting
- Self-Management by Insurance Companies
Rexit is sensitive to our customers’ requirements and has designed many of the e-Cover
features to be configurable and parameterised. Principals which opt for self-management
of certain e-Cover functions, in order to respond to market needs more quickly, are
allowed to do so.
- Portal Features
The e-Cover has been designed to allow access by multiple user types including the
policyholders for self-service. The e-Cover can incorporate policyholders’ access in
order for them check their policy details, payment and claims records, and to carry out
policy renewals and premium payments.
Other features like online claims notifications can be included depending on the
insurance companies’ requirements.
- Download Centre
e-Cover can also allow insurers to upload various forms and documents for access by
their agents as well as policyholders. Examples of such forms may include standard
policy wordings and claims forms.
- Secure Transmission of Data
The e-Cover system is securely accessed through HTTPS (certificate from Verisign with
RSA 1024 bit) which conforms to BNM GPIS 1 security requirements. In addition to
firewalls, our communication infrastructure is also protected by the ISS Proventia
Intrusion Prevention System.
- Stable and Tested Infrastructure
The e-Cover Life system is built on the proven e-Cover architecture that averages over
600,000 transactions monthly involving all classes of insurance, which to date is worth
over RM1.6 billion annually.
Effective Control Measures
The following are control features which are available with the e-Cover Online
- 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
- 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
- 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.
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
- Payment Information
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
- 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
- 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
Product Modules of e-Cover
The Motor and Non-Motor Classes of Insurance available, are:-
- Driver and Passengers Personal Accident
- Personal Accident (Group & Individual)
- Foreign Workers Medical / Health (Group & Individual)
- Foreign Workers Insurance Guarantee
- Foreign Workers Compensation Scheme
- Houseowner / Householder
- Marine Cargo
- Marine Goods in Transit
- Marine Open Cover
- Golfer's Insurance
- Maid Insurance
- General Cover Note (Free Text)
The e-Cover system is able to cater for the tariff market as well as the more complex de-tariff markets, as the system has been implemented in Singapore and Thailand.
Benefits of e-Cover
The e-Cover system has provided obvious benefits to the various key stakeholders and this has been reflected by the
continuous adoption of new and enhanced services which are being introduced.
To Insurance Companies
- Enhanced management and control of agencies
- Rapid implementation period
- Maintenance free
- Electronic payment settlement
- Immediate dissemination of information to agents
- Peace of mind – Fraud-free insurance
- Better service from agents
- Immediate receipt of policy
- Easy accessibility
- Ease of use – Common look & feel
- Time saving – online for all transactions
- Greater mobility for agents
- Improved customer service
To the Government
- Improved perception of the financial industry
- Better accessibility leading to improved enforcement
- Access to readily available information