General Insurance

Line of Business

Insync General Insurance supports all classes of businesses in the industry such as Fire and Perils, Burglary, Motor, Goods in Transit, WIBA, Public Liability, Engineering, Personal/ Group Personal Accident, Marine, Fidelity Guarantee, Professional Indemnity, Liability, Travel, Money etc. The system also supports combined business arrangements where several classes can be insured as one package under one policy. The system is flexible enough to allow defining of new classes or redefining the existing as per requirements of the insurance company. Multi-company premium rates, Special client's rates among other rates can be set for sub classes across regions or companies.

Quotation Module

Insync General Insurance allows for generation of quotation internally by underwriters or through the online portal by the prospective client. The online portal
also caters for Agents to request for quotations for their clients. In the system, quotations are easily converted to policies. The system provides tolling inform
of reports and views to keep track of quotations which ultimately assists in business statistics.

Underwriting

Insync General Insurance supports both direct and indirect business underwriting processes.
Some of the direct business underwritings include :

  • New Business                               
  • Extra Endorsement
  • Nil Endorsement
  • Policy Renewals
  • Motor Certificates
  • Marine Certificates
  • Policy Refund
  • Policy Cancellation
  • Policy Reinstatement

The system also supports the following types of business underwritings:

  • Coinsurance
  • Facultative Inwards
  • Fronting Types

During the underwriting process, the system generates relevant charges such as : Stamp duty, training levy, PHCF, Agency commission & W/Tax etc. The system also attaches the default clauses,
generates reinsurance figures and facultative placement for amounts beyond treaties done.
On approval, the system generates the relevant account transaction types(Debit/Credit notes including those of Reinsurance, Agency commission and W/Tax). Accounts GL entries are created and posted into the Accounting system.
Accompanied by approval is the set of report generation that can also be printed :

  • Policy Schedules
  • Underwriting Debit/Credit Notes
  • Reinsurance Schedules
  • Reinsurance Debit/Credit Notes

Allocation Of Receipts To Debits

The system has a very elaborate procedure for matching receipts to debit notes, with the provisions for controlled un-matching. Reports and views exist that can be used for reconciling receipts and debits.

Motor Certificates

The Motor Certificates Module is elaborate. It provides for a centralized definition of certificate batches, and the allocation ranges of certificates to different branches and/or intermediaries. Allocation of certificates to risks is controlled by User rights, and practical controls have been put in place to ensure proper utilization of certificates. Printing of certificates can be done locally or remotely. Views and Reports that allow administrators to monitor certificate usage also exist.

Renewal Processing

At the beginning of each month, policies that are about to expire in a month, or two months time can be copied into the renewal working area. Renewal notices can be generated and printed with the provision for emailing and SMS configuration.
When a client confirms their interest in renewing of the policy, the renewal process can be done directly through this renewal module. Present renewal discounts are considered.
Reports also exists to assist in monitoring renewed and unrenewed businesses.

Claims Processing

Insync General Insurance allows for clients to easily file for claims online or through their representatives. The claims processing module is a comprehensive module that allows one to
create new claims. Original estimates are maintained at the instance of claim creation with the provision of updating the claim severally while keeping a record of changes.
The system also allows for appointment of service providers, maintenance of correspondences and logging of legal diary.

Reports

Various standard underwriting reports exist e.g. Quotations Listing, Production
Reports (Class-wise, Branch-wise, Agent-wise), Premium registers, Renewal
Reports, Claims Reports (notified claims, registered claims, outstanding claims,
paid claims, claims loss ratios by policy, class, client), Reinsurance Reports
(Premium bordereau, claims outstanding and paid bordereau), Motor
certificate monitoring reports, etc.