Modules of the insurance system OraINS


orains modules engThe OraINS system comprises of modules, which have specific characteristics, depending on the business practice of the insurance company.

 

 

 

 

 

 

 

Customer Information Module Publishing Subsystem Module Accounting Core Module
Insurance Intermediaries Card File Module

Reinsurance Module

Accounting
Card File of Insured MV Receipts Module
Policy Stock Module Payments Module
Policies and Endorsements Module Reporting Module
Claims Module MS Word Integration  
  MS Excel Integration  

 

 

Customer Information Module

The module allows entering and maintenance of files of the contracting parties of the com2pany. The contracting parties differ through unique identifier. The data included into the individual files of the contracting parties can be changed in accordance with the requirements of the customer in the process of system customizatione. A standard search option by various criteria - name, part of the name, PIN, IN, etc., is worked out.The records are classified into three main types - persons, legal entities, and financial institutions. Each of these basic types consists of sub-types, defined by the customer. The registry of the contracting parties is unified for the system, and the different types of the contracting parties are recognized by the system and only lists of the contracting parties of suitable type are visualized in the specialized modules. The current exposition of the contracting party towards the company can be monitored through the contracting party's individual record - number and1 type of the active and expired insurance policies, claims under them, accounting expositions of the contracting party as supplier, customer, or intermediary. The individual record of the contracting party affords an opportunity to the user to accomplish all necessary transactions for the chosen contracting party through one screen - policyregistration and issuance, registration of endorsements, registration of claims, opening of accounts, etc., as well as to make inquiries and analyses of of the contracting party's data.

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Insurance Intermediaries Card File Module

The Card file of the insurance intermediariesis based on the main card file of the contracting parties. Additional individual records of the intermediaries are formed, containing the necessary additional data and the conditions of the contracts, signed with the insurance company - general and individual commissions for the intermediary for every single type of insurance. After opening the record of a particular intermediary, the system recognizes him as such in all other system modules - at issuing policies, payment of premiums and commissions, etc. All the necessary accounts for payments and commissions settlement are opened automatically when registering a new intermediary.

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Card file of Insured MV

Card file of the motor vehicles contains the data for the motor vehicles, insured at the company -3 both in active and expired policies. The records of the motor vehicles contain basic data such as State control number, number of the frame, as well as specific data, defined by the insurance company.

 

 

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Policy Stock Module

The policy stock register is used to control the registration of policies issued on company's forms. The module allows monitoring the circulationof the various printed policy forms aiming to minimize the opportunities for misuse. The documents are entered in the central policy stock,and they are distributed to Agencies, Agents and Brokers. Upon registration of policies in the OraINS system, compliance control of distributed and registered form numbers is performed. Tracing of all transfers of forms is possible and a set of necessary inquires and reports is worked out.

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Policies and Endorsements Module

6 5 The module allows making an entry and processing all the policies concluded. The data entered in each policy screen is individually defined together with the user and reflects user's individual technology. Policies are registered in the system and can be automatically issued by OraINS by4 its publishing subsystem. Two basic types of policies are designed in the solution - individual and subscription (cargo, leasing, etc.). A set of endorsements is adjusted for every type of insurance in conformity to user's individual practice. These are used to amend the terms and conditions of the signed insurance contracts. The specific insurance company tariffs are entered in the system and the policies are rated automatically. A schedule of installments of the premium is generated for each policy. Options for cancellation and termination of a policy, under the conditions defined by the insurance company, are also provided. The data entered in the module is used by all the other modules for the registration of endorsements, payments, claims and claim settlement, as well as for automatic accounting review of the business. A set of operational and report tools have been designed, that give the possibility for control over the registered policies.

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Claims Module

7 Claims module is intended to keep all the necessary information concerning registration of claims and their processing. Alike in policies and endorsements module, in claims module the claim file for each type of policy is defined according to the practice of the insurance company. The data entered in the claim forms depends on the type of the policy. However some details are common for all claims, such as coverage, event, preliminary amount of the claim, calculated amount of the claim.8

 

Claims are processed on several levels:

  1. Registration
  2. Evaluation of the claim
  3. Approval of the sum to be paid
  4. Settlement of payments

The module allows processing and monitoring of the liquidity expenses and the regress settlement payments. All the records in claims module are used by other modules of the system, such as the reports module and the book-keeping module. A set of operative and report tools has been developed, enabling monitoring, control and analysis of the registered claims.

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Publishing Subsystem Module

The module provides high quality printing of all original documents - policies, endorsements, bills, and notification letters. Specific software tools allow the creation of the documents with MS Word capabilities and are designed according to the requirements of the insurance company.

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Reinsurance Module

The module supports the reinsurance business of the insurance company. This module depends strongly on the practice of the insurance company. All reinsurance contracts are registered in the module with their specific terms. The processing of the reinsurance contracts is based on the data in the policies and claims modules - risks, covers, premium, settlement of premium, reported claims and settlement of claims. The module affords an opportunity for automatic setting of reinsurance objects, preparation of reinsurance statements of account and automatic booking of the reinsurance accounts. The retained premium and the reinsurance premium are calculated. The module provides information on the settlements with reinsurers.
 

 

Receipts Module

The module provides facilities for registration of the9 receipts from the customers and intermediaries. The module automates rendering the receipts from premiums and regress claims.The receipts may cover partially or completely the installments due. Date of payment, type and bank account are entered for each one. An automatic binding of the receipts with the contracting party's policy is accomplished with a purpose of booking follow-up. The module is connected with the accounting system with a purpose of automatic booking of the receipts in the general ledger.  A set of operational and report inquiries that allows for receipts control, has been developed.

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Payments Module

The module places means for registration of the contracting party's payments. The module automates the settlement of claims and liquidity expenses. The payments may be partial of complete, and the date, type, bank account, etc.  for each payment are entered. The module is connected with the accounting system with a purpose of automatic booking of the payments. A set of operational and report inquiries, which allows for payments control, has been developed.

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Accounting Core Module

The module is designed to automate the book-keeping entries of the insurance company. It supports a wide range of inquiry forms necessary for the accounting analysis of the company's business, which are drawn up for a random period of time. The module comprises the following functionalities:

 

    • Accounting – basic accounting core. The functionality has been developed for registration and accounting of all book-keeping entries, both balance and under-balance ones. It supports the company's general ledger and the register of book entries. To complement the module, a number of operational inquiry forms by documents, book entries, accounts, etc. have been developed.
    • Currency – balance of accounts and entries in original currency other than local currency are supported. The subsystem supports a complete archive of exchange rates as well as automatic reassessment of different currency equivalents.
    • Settlements with customers and intermediaries – the module allows for automated accounting entries of the settlements with customers and intermediaries. Data for specific amounts come via the Policies, Claims, Payments and Agents/Brokers registers. Complete automation of the necessary accounting entries has been achieved.
    • Accruals the module allows for automated accounting processing of premium written and calculated commissions. Data for the particular sums is received through the module Policies and complete automation of the necessary accounting entries has been achieved.

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Reporting Module
 

The module is designed to define and develop standard forms and analyses for the insurance company. It allows for automated data retrieval from the OraINS system information registers and of data created by the systems functional modules using user-predefined rules. The module provides an option for consolidation and complex analyses and an option for getting final results in MS Excel. The report forms are classified in several groups - accounting, actuary, management, specific additional reports.

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MS Word Integration

All documents issued by OraINS system are under a form to be printed through MS Word means. This possibility allows generating of high quality official documents. The worked out pattern of insurance documents are in a form to use the data registered in the system when issuing the particular document.

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MS Excel Integration

All reports created by OraINS system can be printed, analyzed and preserved with MS Excel means. This possibility allows rise of the effectiveness of the management activity and rise of flexibility at using data from the information system.

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The described modules present a summary and give just general information about the spheres where the integrated insurance automatic OraINS system supports decisions.