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FLEXTERA Insurance Back Office

 

FLEXTERA Insurance Back Office provides the overall support of various insurance product lines. This support includes designing, configuring, life cycle management and accounting of all modern financial products and services in full compliance with regulatory requirements and Customer needs.

High performance, exceptions managements, modern security tools and customizable business processes of FLEXTERA provide Insurers with highly efficient tools for transactions processing. The centrally deployed system becomes available at every Customer branch which ensures:

  • Reduction of implementation and maintenance expenses, which is especially important for the geographically distributed networks,
  • Quick launch of new products and services,
  • Standardized configuration and security policy for better controllability of the solution.

FLEXTERA Back Office incorporates a number of modern features which are relatively new for the back office systems — like sales channels management or performance monitoring of separate products. These features enable end-to-end integration of the Insurer’s functional areas and create a unified information space for transparent management of insurance products and Customer relations. In addition, the logical separation of operational accounting (product performance) and financial accounting enables better estimation of the performance of each individual product and the Insurer’s division and facilitates the analysis of performance fluctuations under different circumstances.

FLEXTERA INSURANCE BACK OFFICE FUNCTIONS

FLEXTERA Policy Management The module is aimed to support the whole life cycle of insurance policies, including policy issuance, quoting, and endorsement, generation and management of insurance documents, and accounting and reporting functions.

FLEXTERA Loss Accounting — The module supports back office operations related to accounting losses under direct insurance policies.

FLEXTERA Reinsurance and Coinsurance — The module handles all operations related to incoming and outgoing reinsurance, facultative proportional and non-proportional reinsurance, and treaty reinsurance (including quota share treaty reinsurance, quota-excess treaty reinsurance, and excess of loss treaty reinsurance).

FLEXTERA Insurance Settlements — The module supports management of all business processes related to the processing of insurance payments.