INSURANCE
In Summary:
  • Life insurance, general, health
  • Product configurator, processes, approval flows
  • Bundle Products (life, general, health)
  • National and international organisations
  • Product/process configuration by sales region
  • Distribution channels, simple, complex, multilevel sales structures
  • Complex, multilevel, referral, cash/pay commission configurator
  • Configurator roles, responsibilities, competency limits
  • Process control
  • Sales Force Automation
  • Questionnaires – Quotes – Underwriting – Offers – Policies
  • People: customers, brokers, banks, agents, assignees, beneficiaries
  • Policy administration (Insurance Contract Management)
  • Management of dynamic insurance plans, health cards
  • Investment fund management
  • Management of claims files
  • Service providers, medical procedures, doctors, diagnostics
  • Claims, debt recovery
  • Commissions, invoices, acquisition costs, DAC
  • Collections, authorisation of payments, payments
  • Reinsurance management
  • Calculation of technical reserves, provisions
  • Automatic actions, corrective actions
  • 100% automatic operational-financial reconciliation
  • Finance, logistics, HR & Payroll
  • Operational and technical reporting
  • Business Intelligence
  • P&L: Risk/Object/Product/Class/Line of Business, Management Units
  • Integration with Document Management
  • SaaS & Cloud

Insurance companies are subject to a continuous process of change due to the evolution of the insurance market, fierce competition, customer demands for personalised products down to the individual level, coupled with the predictability of financial performance.

Insurance organisations have realised over time that IT systems are a support without which they cannot exist, and their performance is reflected in the financial results.

Most of the IT systems in place in insurance companies include multiple applications with different vendors, based on different technologies, interfaced with considerable financial investments, involving human efforts in use and data auditing. As a result, IT system costs in today’s environment are rising steadily and are now exceeding the level of some business lines.

In order to launch new products on the market in the shortest time possible, the existence of efficient IT systems and well-trained business consultants is crucial to increase the operational and financial performance of the organisation.

It is very clear that the performance of insurance companies will suffer unless radical steps are taken to choose and implement integrated IT systems that shorten the time from conception of new products to market launch, substantially reduce human effort throughout the sales and reporting chain, provide accurate performance information for each business structure, and adapt to new national and international structures.

The development of new lines of business in the current system should be extremely easy, going as far as allowing bundled product offerings including life, non-life and health.

The large number of players (brokers, banks, agents, inspectors, underwriters, actuaries, portfolio managers, etc.) requires tight control over operational processes and financial flows. The IT system must ensure the traceability of transactions in the processes, starting from the operational documents, allowing any aggregated amount to be detailed down to its component elements.

The development of communications technology and processing systems has made it possible to outsource IT systems and business consultancy to specialist firms, considerably reducing costs and ensuring a higher quality of service.

Our solution for the insurance industry helps insurance organisations to support integrated operational, support and management processes, to solve problems in current IT systems and to contribute substantially to the economic and financial performance of the insurance organisation.

EMSYS provides an easy system to configure in a short time insurance products (life, non-life, health) to be sold in any combination, individually or in bundled products, to configure sales and approval flows, competencies and territories, to configure automatic reflection of operational processes in accounting, integrated with support and management processes, running within an organised framework of budgeting systems, allocation of indirect costs (support and management) to business lines and management structures, based on the principle of “one man one document one time” transactions are available in real time up to management reporting

Our application covers all operational, support and management areas within an insurance company. Ensuring an efficient planning and use of financial and human resources, contributing substantially to the economic and financial performance, adaptation to market requirements and satisfaction of customer needs.