designed to maximise value to insUrers
Steamlining the day-to-day backoffice policy administration.
MIP Personal Finance is your end-to-end solution that manages all administration in Individual Insurance, Group Insurance, Wealth Management, Motor Vehicle Warranty and Maintenance, from New Business through to Claims Management, and to resourcefully adapt to market and regulatory change.
BROKER AND AGENT MANAGEMENT
Information and agency hierarchy information are maintained for policy issue and the possible localisation of the software to meet the local Broker/Agency remuneration requirements.
The following functions provide for the maintenance of Broker / Agent information for policy issue and commission calculation: Broker/Agent Information Maintenance Broker/Agent Hierarchy Maintenance Commission Schedule Maintenance.
Our system is a process-drive administration system allowing you to configure processes at different levels.
The well-defined interfaces make it possible to integrate with your current systems and environment as well as any specific requirements; each product can be customised to follow a different sequence of steps.
Smooth workflow integration is made possible by:
- A native viewing of documents, which means that you can view your documents locally without any additional software needed. A built-in, systematic routing in the flow of documents throughout the company is specially designed to meet your specified business processes
- Security access to the scanned documents residing on the network through appropriate security access definitions. Maintaining an organisational discipline over document management, especially indexing and storage, so files and documents can never be misplaced.
EFFICIENCY AND COST EFFECTIVE
Our streamlined policy processing is achieved through reduced paper, workflow management and shorter processing times for new business and changes.
There is no need for CRM (Customer Relationship Management) to access multiple systems to find the required information. Instead, all related information is logically grouped for quick review so that you can move easily from one area to another, simply by clicking a button or selecting a link. As a result, the management of an insurer’s business is made both efficient and cost effective.
By following user configurable business process definitions, MIP Life automatically performs accurate activities for each type of policy at each stage of its lifecycle. Furthermore, the real-time processing of all transactions ensures that you won’t have to wait overnight for batch cycles and time- consuming follow-ups.
DIFFERENTATION AND CONFIGURATION
In a saturated industry you need to differentiate your products from your competitors and now this is economically feasible.
Flexible user-controlled product configuration is one of the key features that set MIP Life apart from most policy administration systems available today. With traditional systems, even the small changes needed to keep product lines current can take months to make. With MIP Life, all product information is stored as data so product changes do not have to be coded. This is our way of ensuring that new product introduction results in a much faster time-to- market with minimal, if any, programming changes and no system downtime.
You will benifit our business experts who are empowered to implement system changes with ease so that you will achieve new levels of responsiveness.
This approach offers you a comprehensive and complete data view of all your customer information, allowing for complete portfolio selling and management.
This means that insurance agents or representatives can see at a glance if an auto customer does not have medical insurance; if a Medical insurance customer also has life insurance policies; or whether a small commercial customer might be a good prospect for your new BOP policy. You can also relate customers to specific associations or other groups to manage special marketing campaigns, as well as document relevant contacts of an account for communication purposes.