Diasoft became the General Partner of the VI Annual Financial Sphere Award for the section "Banks and Payment Services". The company submitted a large-scale project for implementation of its FLEXTERA BI for automation of regulatory reporting in VTB24. At the award ceremony, which took place on 30 March 2017 in Moscow, VTB24 and Diasoft's project was named one of three best implementations in the category "Reporting Solutions".
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FLEXTERA Insurance Middle Office
The functional modules of FLEXTERA Insurance Middle Office provide financial institutions with extensive decision-making, risk management and performance control functionality. These modules primarily fulfill business support functions rather than provide actual services or products, but it is the middle office inventory which is responsible for the success and stable financial position of a financial institution.
FLEXTERA Insurance Middle Office offers to its Customers the most sophisticated modern tools for scoring, underwriting and decision-making, identification, assessment and prioritization of risks, limits management, control of operations performance, and debt collections. FLEXTERA’s broad integration inventory ensures its smooth interaction with third party applications fulfilling similar functions and facilitates its communication with third parties to ensure strong analytical support of every decision and support prevention of financial crimes.
FLEXTERA INSURANCE MIDDLE OFFICE FUNCTIONS
FLEXTERA Insurance Underwriting — The module handles automated and manual assessment of insurance contracts and insured objects against the Insurer’s underwriting models. All the assessment models can be flexibly configured in accordance with the company’s requirements.
FLEXTERA Loss Settlements — The module covers all steps of handling loss settlements, starting from the registration of an insured event to the full insurance pay out, including regressive claims and subrogation.
FLEXTERA Service Provider Management — The module supports relationship and settlements with various direct insurance service providers, including contract management and fee calculation.
FLEXTERA Insurance Reserves — The module deals with all middle office operations related to calculation, adjustment, writing off and accounting for insurance reserves.
FLEXTERA Actuarial Calculations — The module enables various kinds of actuarial calculations for risk insurance, life insurance and reinsurance.
FLEXTERA Fraud Monitoring — The module supports various methods for fraud identification, investigation and reporting.
FLEXTERA Debt Collection — The module supports various operations related to debt collection including customer relations management, interaction with third party collection agencies, automated segmentation of debts, allocation of human resources, control over collection activities, and reporting.
FLEXTERA Anti-money Laundering — The module provides advanced tools for preventing money laundering and terrorists financing. These tools ensure automatic verification of clients and payment documents against flexibly configured rules and schemes. In case of identification of a suspicious transaction, they can be immediately reported to regulatory authorities.
FLEXTERA Insurance Disputes Management — The module is used to support legal settlements of insurance disputes.
FLEXTERA Salvage Disposal — The module supports all processes associated with salvage disposal and accounting for revenues received in the result of such processes.
FLEXTERA Fraud Monitoring — The module automates security officers operations associated with the insurance fraud prevention.
FLEXTERA Cash Flow Management — The module offers comprehensive tools for successful collection, management and short-term investing of the corporate cash funds to ensure reasonable funds allocation and planning and improve the overall financial profitability of corporations.