PERSONAL FINANCE GROUP



Achieve your long-term business and financial goals with our range of Personal Finance Solutions.

Streamlining the day-to-day backoffice policy administration.

OVERVIEW


MIP Personal Finance offers an end-to-end solution that manages all aspects of the Group Life Insurance to a defined group of people, whilst adapting resourcefully to market and regulatory changes.

MIP Personal Finance Group (PFG) Solutions began in 2009 and has since grown to support a Local, National and Regional Client base, including SADEC countries.

EFFICIENCY AND COST-EFFECTIVENESS


Our streamlined scheme and member processing is achieved through reduced paper, workflow management and shorter processing times for taking on new scheme and member business and changes.

There is no need for servicing personnel to access multiple systems to find the required information. Instead, all related information is logically grouped for quick review or to progress easily from one functional 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, the Personal Finance Group (PFG) system automatically performs accurate activities for each type of scheme and its members at each stage of its lifecycle. Furthermore, the real-time processing of all transactions ensures that one will not have to wait overnight for batch cycles and time- consuming follow-ups.

DIFFERENTIATION 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's Personal Finance Group (PFG) system apart from most administration systems available today. With traditional systems, even the small changes needed to keep product lines current, can take months to make. Within the Personal Finance Group (PFG) system, 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.

So, what makes us different?

  • Flexible user-controlled web-based system which enables ease of accessibility
  • As a client you are the beneficiary of a collective client base development effort
  • Continually growing highly configurable list of benefits (currently 275)
  • Proven capability for new client take-on. This includes Scheme and underlying membership data, as well as the ability to clone from an existing Master Scheme
  • Fully workflow integrated claims and payment management process, which enables improved SLA’s and client satisfaction.


Digital Stack
  • Workflow
  • Leads & campaign management
  • Event calendar
  • Call Centre
  • Mobile
  • Decision & Rules engine
  • Task management
  • Document management
  • Communication management

Development Methodology
  • A clearly defined and proven development methodology making use of Agile principles
  • Supported by a Team of Business and Technical Architects, Product Champions and Client Service Managers.


FLEXIBILITY


You will benefit from our business experts who are empowered to implement system changes with ease to achieve new levels of responsiveness. The flexibility of the solution facilitates rapid data migration of all data via a quick and simple import functionality.

SPECIFIC BUSINESS FEATURES THAT ARE CATERED FOR BY THE PF SYSTEM



Key Features:

  • Dynamic questionnaires
  • Full list of configurable benefits
  • Customizable import templates for member and life assured data take-on
  • Ability to take-on members in bulk and terminate members in bulk
  • Ability to manage backdated changes (Rate reviews)
  • End to end claims management process with workflow capability, which includes bulk claims
  • Automated payment runs
    • Claims
    • Commission
  • Integrated workflow management
  • Collection management
    • Debit Orders (Scheme & Member Level)
    • Cash/EFT
    • Scheme Refunds (Claim)
  • Proof of Insurability
  • Reinsurance
  • Product, Scheme and Member documentation management
  • Segregation of Duties
  • Security and auditing capability.


In addition to the Key Features of the system, the following Peripheral Features are available
  • Accounting
    • General ledger
    • Debtors
    • Creditors
    • Cashbook
    • Fixed assets
  • Financial Systems Integration
  • Media and Communications, including SMS, email, and document repository
  • Reporting


CONTACT US

If you wish to see a demo of the above features, please click on the link below and submit your contact details and we will contact you within 24 hours to setup a “face to face” demo with your relevant stakeholders.


SEND US YOUR DETAILS

MIP HOLDINGS

We're the leading provider of affordable Business/IT solutions to the financial services industry in emerging markets.

VISION

"Tomorrow's Solutions Enjoyed"

VISION

"MIP is a provider of robust, flexible, innovative, business/IT solutions that enable our partners to grow their customer bases profitably."

CONTACT US

sales@mip.co.za
0861 MIP MIP (0861 647 647)
Intl: +27 10 005 3700