The comprehensive Group Life insurance administration system that supports different product designs to cater for different needs of corporate customers. It has a high degree of fit to meet flexible product’s needs with a fully functioning administration platform. PrecentiaGroup has demonstrated great reliability to support unorthodox product designs in the group business. It empowers companies to operate business in the most versatile manner with its true uniqueness by providing the platform to readily process the flexibility of Group business. The solution is specifically designed with precedence on flexibility and functionality richness to empower customers to manage the business effectively and efficiently.
It is structurally parameterized driven thus giving the freedom for users to alter the governing criterions as and when necessary. It minimizes hard-codings where by launching of new products, change in regulations and market environment instantaneously. Each process is designed to be modular and object driven.
PrecentiaGroup has been operational since year 2003 and has undergone numerous enhancements to cater for the changing industrial needs. Its reliability has been proven since then with the successful installation in many companies in the pacific region. All members engaged in the development of system are highly qualified and have extensive and in-depth business knowledge in insurance especially being trained from a multinational company.
It is highly scalable to accommodate business expansion and growth through introduction of new distribution channels and product horizons.
(d) Customer Centrity
PrecentiaGroup has the common client capability across all lines of insurance and distribution to achieve customer-centric framework. It enables the users to perceive policies based on per customer. This is essentially enabling the system to be customer centric focus rather than policy focus.
(e) Fast Adaptation to Environment
The tremendous changing pace in technology affects the business environment. PrecentiaGroup has the capability to respond quickly to meet the ever-changing environment. As such, the architecture of the system provides the object-oriented design to facilitate easier maintenance and faster development/expansion.
(f) Security / Access and Audit Control
PrecentiaGroup is able to secure access through a user group access matrix according to screen level. All transactions are recorded during user’s sign in and sign out for auditing purposes.
In essence, PrecentiaGroup is a web-based integrated system. It is a comprehensive group life insurance administrative system that supports diversified distribution channels. It includes new business, underwriting, policy servicing, claims processing, reinsurance and management information.
The architecture is designed to support different product design to fit various distribution channels. It has the capability of administering and processing policies differently in each distribution. PrecentiaGroup gives such functions by way of user specifying the necessary parameters in the maintenance table.
The overall level of work in these systems will result in less mechanical, and more analytical and meaningful. With the modern application architecture for more flexibility and simplified integration with external systems
Most importantly, PrecentiaGroup has demonstrated a high degree of functional fit to meet Life Insurer launch program with a fully functioning administration platform.