Welcome to , a single premium policy administration system.
Introduction
is a web-based single premium policy administration system that caters for the full life-cycle of a single premium policy from initial quotation until final maturity and payout.
It caters for both Growth policies that have a single payout at maturity and Income policies that payout a regular annuity.
The following life-cycle events are catered for in :
| Event | Description |
|---|---|
| Quotation | The system will issue a quotation based on the rates applicable at the time. These rates are an input into the system whenever they change. |
| Acceptance | If a quotation is accepted an inforce policy is created. |
| NTU | A policy can be marked as NTU (not taken up) in which case it will be closed and the client refunded. |
| Withdrawal | A single withdrawal is allowed during the life of a policy. will calculate the necessary amounts and fees. |
| Surrender | If a policy is surrendered will calculate the necessary amounts and fees and payout to the client. |
| Death | Upon the death of a policy holder will calculate the necessary amounts and fees and payout to the beneficiaries. |
| Maturity | When a policy matures will calculate the necessary amounts and payout to the client. |
| Maturity Payment | If a policy is not paid out immediately upon maturity, will calculate the necessary interest until payout. |
As well as the above, also keeps track of:
| Item | Description |
|---|---|
| Beneficiaries | Beneficaries can be updated and changed during the life of the policy. |
| Cessions | Ceding the policy, including ceding to multiple people, is catered for. |
| Bank Accounts | Bank Account details can be updated and changed during the life of the policy. |
Other notable features of :
| Feature | Description |
|---|---|
| Regulations | All regulations pertaining to single premium policies are built into . |
| Document storage | has a document storge facility whereby any document relating to a policy can be uploaded and stored with the policy. This would include documents for FICA compliance, etc. |
| Document Generation | generates all the necessary documents pertaining to a policy, such as quotations, actual policy schedules, etc. |
| Broker Access | allows brokers to access the system so that brokers can view the policies they are responsibleffor, get quotes, surrender values, etc. |
| Reporting | A full set of financial and management reports is available in . |
Contact Us
Steve Farnaby
+27 (0)82 827 7794