the african insurance organisation

African Insurance Organisation... 1

The African Insurance The African Insurance OrganisationOrganisation

Serving the African Serving the African Insurance industryInsurance industry

Organisation des Assurances Organisation des Assurances AfricainesAfricaines


African Insurance African Insurance OrganisationOrganisation

A Presentation of the A Presentation of the AIO Insurance SoftwareAIO Insurance Software

Developed with the assistance Developed with the assistance of UNCTAD and leading insurers of UNCTAD and leading insurers

and reinsurers operating in and reinsurers operating in AfricaAfrica


AIO Software ObjectivesAIO Software Objectives

To Provide members with affordable To Provide members with affordable and functional software that handles:and functional software that handles:

UnderwritingUnderwritingClaimsClaimsReinsuranceReinsuranceAccountsAccountsMISMIS


The AIO Software The AIO Software SpecificationsSpecifications

Windows NT/Windows 2000/XPWindows NT/Windows 2000/XPMicrosoft SQL Server Microsoft SQL Server Multi-lingual, multi-currency, Multi-lingual, multi-currency, multi-date, multi-date,

Single-user or multi-userSingle-user or multi-userModularModularUser defined setup optionsUser defined setup optionsContext sensitive on-line helpContext sensitive on-line help


System Design ConceptsSystem Design Concepts

Designed for insurance people with Designed for insurance people with minimum programming knowledge; minimum programming knowledge;

PC based, with Standard windows PC based, with Standard windows interfaceinterface

Uniform presentation and set up for all Uniform presentation and set up for all classesclasses

Detailed operating manual for each Detailed operating manual for each class and activityclass and activity

User-friendly systemUser-friendly system


System SetupSystem Setup

The system allows main set up options at The system allows main set up options at head office level for functions applicable head office level for functions applicable system-wide. system-wide.

Underwriting, Claims and Reinsurance Underwriting, Claims and Reinsurance details will be set up under each class of details will be set up under each class of insurance.insurance.

Plenty of pre-defined industry standard Plenty of pre-defined industry standard outputs and reports; additional reports to outputs and reports; additional reports to be defined easily by users.be defined easily by users.


Main SetupMain Setup

Head officeHead officeDivisionsDivisionsBranchesBranchesSub-BranchesSub-BranchesClass GroupsClass GroupsClasses / sub-classesClasses / sub-classesAccounts/sub-accountsAccounts/sub-accounts


UNDERWRITINGUNDERWRITING

There is a uniform approach to There is a uniform approach to underwriting in all classes - only underwriting in all classes - only activities specific to each class are activities specific to each class are highlighted.highlighted.

Various codes, rates and underwriting Various codes, rates and underwriting details are defined for each classdetails are defined for each class

each company can define the above in each company can define the above in accordance with its requirementsaccordance with its requirements


Underwriting Transactions –Underwriting Transactions –

Proposal processingProposal processing

Premium calculationPremium calculation Reinsurance allocationReinsurance allocation Co-insurance detailsCo-insurance details Treaty programme structureTreaty programme structure Calculating treaty capacityCalculating treaty capacity


Underwriting - TransactionsUnderwriting - Transactions

Continued…Continued…Pre-renewal routinesPre-renewal routinesRenewal processingRenewal processingPolicy/item maintenancePolicy/item maintenancePremium adjustmentPremium adjustmentPolicy cancellationPolicy cancellation


Underwriting - Reports & OutputsUnderwriting - Reports & Outputs

The system produces all reports and The system produces all reports and outputs required by an insurance outputs required by an insurance company whether it is policy company whether it is policy documentation and statements for documentation and statements for clients, reinsurers, agents, tax clients, reinsurers, agents, tax authorities, and internal authorities, and internal management reports. management reports.

Main reports are shown below.Main reports are shown below.


Underwriting - OutputsUnderwriting - Outputs

Policy schedulePolicy scheduleDebit/credit note forDebit/credit note for

· Policy holderPolicy holder· Sales personSales person· Co-insurerCo-insurer· Reinsurer/BrokerReinsurer/Broker


Underwriting - ReportsUnderwriting - Reports Gross written premium/Net written Gross written premium/Net written

premiumpremium· by Class, Class group, by by Class, Class group, by

geographic zonesgeographic zones· by U/W year by sales person, etc.by U/W year by sales person, etc.

Premium ceded bordereauPremium ceded bordereau Production and commission summary Production and commission summary

by sales personby sales person Taxes and chargesTaxes and charges Underwriting vouchers ListUnderwriting vouchers List


Underwriting - ReportsUnderwriting - Reports Continued…Continued…

Policy RegisterPolicy Register Risk Profile (sum insured/MPL basis)Risk Profile (sum insured/MPL basis) Renewal scrutiny listRenewal scrutiny list Renewal list, by office and sales personRenewal list, by office and sales person Lapse list, policy cancellation listLapse list, policy cancellation list UNEARNED PREMIUMSUNEARNED PREMIUMSYou need more reports?You need more reports?


CLAIMSCLAIMS The claims sub-module enables the The claims sub-module enables the

company to maintain up-to-date company to maintain up-to-date information on the status of claims, information on the status of claims, whether paid or outstandingwhether paid or outstanding

Allocation of claims to reinsurers and Allocation of claims to reinsurers and co-insurers, accumulation and co-insurers, accumulation and analysis are handled by the system.analysis are handled by the system.


Claims - SetupClaims - Setup

Cause of loss codesCause of loss codesClaim payee typesClaim payee typesClaim repudiation reasonsClaim repudiation reasonsClaim write-off reasonsClaim write-off reasonsClaim expense typesClaim expense typesEVENT MAINTENANCEEVENT MAINTENANCE


Claims - TransactionsClaims - Transactions

NotificationsNotificationsPaymentPaymentRecoveryRecoveryRevision/ClosureRevision/ClosureReinstatementReinstatementClaim AllocationClaim Allocation


Claims - Reports/OutputsClaims - Reports/Outputs Debit/credit note for payee, co-Debit/credit note for payee, co-

insurer, facultative reinsurerinsurer, facultative reinsurer Gross/Net claims paid by U/W yearGross/Net claims paid by U/W year Claims ceded bordereauClaims ceded bordereau Loss ProfileLoss Profile O/S claims list, bordereauO/S claims list, bordereau Contingent recoveries summary & Contingent recoveries summary &

detaildetail Claim vouchers listClaim vouchers list


REINSURANCEREINSURANCE

The system provides treaty setup The system provides treaty setup procedures for proportional and non-procedures for proportional and non-proportional reinsuranceproportional reinsurance

Underwriting and claims transactions Underwriting and claims transactions are automatically applied to the are automatically applied to the appropriate reinsurance programmeappropriate reinsurance programme

Quarter-end and year-end procedures, Quarter-end and year-end procedures, treaty renewal and cancellations, etc. treaty renewal and cancellations, etc. are fully handled by the systemare fully handled by the system


Reinsurance - ProportionalReinsurance - Proportional

Treaty setupTreaty setupQuarter-end proceduresQuarter-end proceduresYear-end proceduresYear-end proceduresTreaty renewalTreaty renewalTreaty cancellationTreaty cancellation


Reinsurance - non-proportionalReinsurance - non-proportional

Treaty setupTreaty setupTreaty renewalTreaty renewalMNDP distributionMNDP distributionPremium adjustmentPremium adjustmentReinstatement of coverReinstatement of coverTreaty cancellationTreaty cancellation


Reinsurance - Outputs/ReportsReinsurance - Outputs/Reports

ProportionalProportional:: Treaty record - cession sectionTreaty record - cession section Treaty statement of accountTreaty statement of account Portfolio transfer accountPortfolio transfer account Profit commission statement (clean cut)Profit commission statement (clean cut) Profit commission statement (U/W year)Profit commission statement (U/W year) Treaty statistics (clean cut, U/w year Treaty statistics (clean cut, U/w year

basis)basis) Loss carried forward registerLoss carried forward register Reinsurers’ statement of accountReinsurers’ statement of account


Reinsurance - Outputs/ReportsReinsurance - Outputs/Reports

Non-Proportional:Non-Proportional: X/Loss treaty record - cession sectionX/Loss treaty record - cession section MNDP distributionMNDP distribution Credit Note (MNDP installment)Credit Note (MNDP installment) X/Loss premium adjustmentX/Loss premium adjustment Distribution schedule - X/Loss Distribution schedule - X/Loss

premium adjustmentpremium adjustment Reinsurers’ statement of accountReinsurers’ statement of account


ACCOUNTINGACCOUNTING The insurance system can be used as The insurance system can be used as

a stand-alone module, or can be a stand-alone module, or can be integrated fully with a financial integrated fully with a financial accounting software developed in the accounting software developed in the windows environmentwindows environment

There are a number of such There are a number of such accounting packages, one of which is accounting packages, one of which is Microsoft Great Plains Dynamics Microsoft Great Plains Dynamics

Companies may also opt to use other Companies may also opt to use other accounting modules of their choice.accounting modules of their choice.


Accounts - ActivitiesAccounts - Activities

Voucher transaction entryVoucher transaction entry Applying vouchersApplying vouchers Month-end procedures:Month-end procedures:

· Sales commissionsSales commissions· Statements of accountStatements of account

Year-end procedures:Year-end procedures:· Closing the financial yearClosing the financial year


Accounts - Financial StatementsAccounts - Financial Statements

From financial moduleFrom financial moduleBalance SheetBalance SheetRevenue AccountRevenue AccountProfit and Loss StatementProfit and Loss StatementCash Flows StatementCash Flows StatementTrial BalanceTrial Balance


Accounts - Reports/OutputsAccounts - Reports/Outputs

Aged clients statement of accountAged clients statement of account Commissions and commission Commissions and commission

provisions by U/W year, class and provisions by U/W year, class and salespersonsalesperson

GL transactions list, summaryGL transactions list, summary Accounts voucher listAccounts voucher list

You need more reports?You need more reports?


System Utilities and ToolsSystem Utilities and Tools

System securitySystem securityData securityData securityActivity trackingActivity trackingMulti-lingual functionsMulti-lingual functionsMulti-currency functionsMulti-currency functionsMulti-date functionsMulti-date functionsBusiness alertsBusiness alerts


Support ServiceSupport Service

Advice & guidelines to convert Advice & guidelines to convert existing operation existing operation

InstallationInstallationTraining Training Maintenance and supportMaintenance and supportFree upgrades and Free upgrades and enhancementsenhancements


PricingPricing

AffordableAffordable Based on size of companyBased on size of company Price components include:Price components include:

Number of branches and usersNumber of branches and users Number of classes writtenNumber of classes written

Discount for large number of users Discount for large number of users per marketper market

the african insurance organisation

Documents

class of insurance

insurance company

insurance people

underwriting details

underwriting reportsgross

main reports

additional reports

system setupthe system