LI System

Software solution for insurance companies (non-life), which allows to sale from anywhere (via the Internet), as well as easily control all business processes.

Software solution for insurance companies (non-life), which allows the sale from anywhere (via the Internet), as well as easily control all business processes.
The system works through a web browser, as a result, you can easily work from anywhere, with only the Internet and computer presence. If necessary, the system can be easily integrated with any other system, such as the financial system, the system of the insurer or any other system through the use of web services.

  • Single/General/Group/Complex policies input.
  • During the policy input it is allowed to add or exclude additional product(s).
  • Assigning additions to the policy (e.g. when you need to insure additional risks).
  • Different policy statuses.
  • Cancellation of the policies.
  • Policy suspension.
  • Flow of payments with unlimited number of records.
  • Commissions recalculation for employes and their supervisors.
  • Policy payments input and controlling of payments and debts.
  • Discounts assigning.
  • Charging invoices for Single, General or Group policies.
  • Cross usage of base and policy currencies.
  • Accounting of earned and unearned commissions.

Full work cycle with blanks.
It is possible to assign automatic, manual, random blank numeration and series for each insurance type. As well as to create policies without connection to blanks.

  • Input the insured event, taking into account the amount claimed.
  • Adding reserves to claims, browsing history of reserves changes.
  • Settlement of insurance events.
  • Unlimited count of Indemnities related to each claim risk and it’s detalisation.
  • Changing indemnities status.
  • Indemnities control and tracking.
  • Accounting and tracking reserves by risks.
  • Control of insurance sums.
  • Statuses of settled event and non-insured event.
  • Regresses (with flow of payments)
  • Settlement expenses.
  • Period closing for claims.
  • Detailed set of filters for searching.
  • Data export to Excel.
  • Import to Excel: claims, indemnities, regresses, settlement expenses.
  • Files and documents attaching to claims.

  • Incoming obligatory contracts (possible import from excel)
  • Incoming facultative contracts (possible import from excel)
  • Creating of outgoing Obligatory contracts (Supposed to automatically process policies).
  • Policy transferring to facultative retrocession.
  • If necessary, manual product Including/excluding from outgoing obligatory contract.
  • Automatic cancellation of outgoing policy in case of related cancellation of incoming one.
  • In claims outputting retrocessionare’s share of liability (by claimed sum)
  • In case of positive indemnity – browse the share of retrocession.
  • Period closing.
  • Detailed set of filters for searching.
  • Data export from tables to Excel.
  • Searching, filtering and browsing of policies which exceeded the limit (can be configured for certain date and for definite product) for transferring to outgoing retrocession.

  • Unearned premium reserve (UPR).
  • Reported but not settled (RBNS).
  • Incurred but not reported (IBNR).
  • Deductions coefficients.

  • Covenantees catalog (Natural and Legal entities) with files attaching possibility. Import Covenantees from excel.
  • Banks catalog.
  • Catalog of Recipients in invoice.
  • Commissions catalog.
  • Blanks catalog with import possibility from excel.
  • Catalog of Risks and it’s details.
  • Catalog of insurance types.
  • Catalog of insurance product types.
  • Catalog of limits for reinsurance.
  • Vehicles marks and models catalog.
  • Catalog of currency rates with automatic daily updating.
  • Detailed set of filters for searching.
  • Data export from tables to Excel.

Easy one-step payments. You can cover many policies by one transaction.
Assigning underwriting rights to particular User or Roles for each insurance type.
Created a flexible environment for conditions configuration , which allows special delegated users to underwrite policies with controlling and notification process. Users with limited rights are obliged to transfer policies which exceeded specially settled limits to underwriters. Conditions for underwriting can be totally configured.
System has a powerful set of operative statistics and reports.Hereby some of them:

  • Policy and blank reports.
  • Claim reports.
  • Debts reports.
  • Commissions reports.
  • Written premium reports.
  • Premium coverage reports.

Detailed sets of filters.
Graphics interpretations.
Graphics  in picture format.

  • Create custom attributes for policy, claims, indemnities, regresses and settlement expenses.
  • Create business rules for various checks (including the rules for underwriting).
  • Manage a calculation for insurance tariff, insurance premium, commissions, interruptions and other calculations.
  • Override algorithms for cancellation, commission, policy payments.
  • Creating of printing templates, including a digital signature mechanism.
  • Creation of own Web services.
  • Document templates with data output from the object to which the document is attached.
  • Tariff Tool (Cubes, Dimensions).

Settings:

  • Mailing configuration.
  • Customize the interface.
  • Set up multilinguality (lv, ru, eng) with the possibility of adding new languages.
  • Email set up.
  • Setting policies and invoices.
  • Configuring claims.
  • Setting covenantees.
  • Security set up for system and self-service portal.
  • Configure support service.
  • Setting up automatic cron job services.

  • Display reminders for expiring and unpaid policies.
  • Review own policies.
  • Review the flow of payments for own policies.
  • Review invoices.
  • Review indemnity statuses.
  • Logging of customers actions.

  • 3-level based system: browser, application, database.
  • SSL protocol.
  • Strong password and session security level.
  • Users Role system with detailed distribution rights.
  • Users managing, submission to key users.
  • Detailed user activity monitoring in the system. (Logging)
  • Policy visibility regions.
  • User location regions.

Outputting reminders for a particular user:

  • Policies that require underwriting.
  • Not paid on certain date.
  • Policies, the term of which ends up in the next 24 hours.
  • Reminder in the policy (in the next 24 hours).
  • Policies ends within X days.

Offers managing:

  • Consideration of proposals to the client.
  • Accounting for time spent.
  • Accounting for employee action with client.
  • Consideration of the status of the client offer.

  • Period closing.
  • Attach files and documents to policies, claims, covenantees.
  • Detailed set of filters for each module.
  • Data export to excel from any module.

Import from Excel:

  • Policies.
  • Cancellations.
  • Payments.
  • Invoices.
  • Claims.
  • Indemnities.
  • Regresses.
  • Settlement expenses.

  •  Input and managing information over the Internet.
  • Powerful functionality necessary for any insurance company.
  • Detailed set of filters to search and retrieve information.
  • Tracking and auditing of user actions severely restrict user access to data.
  • Database security, database integrity, synchronization transactions.
  • Easy integration with other systems, such as financial.
  • WEB technology. No need to install software on each user’s computer. Working with mobile devices from anywhere – for example with IPAD.
  • Unlimited users. Do not pay for each user individually and no need to buy additional licenses.
  • Independence from the developer in creating insurance types and products, additional fields for policies, claims and indemnities, printed forms, data import.
  • Provided a special sections where IT employees of the insurance company may override calculation methods of tariffs, insurance premiums, commissions, interruptions, unearned premium reserves (UPR).
  • Constant development  and updating with new functionality.

Broker Insurance system

Software solution for brokerage companies operating in the insurance industry, which allows the sale from anywhere, as well as easily control all business processes.

Software solution for brokerage companies. The system works through a web browser, as a result, you can easily work from anywhere, with only the Internet and computer presence.
If necessary, the system can be easily integrated with any other system, such as the financial system, the system of the insurer, and any other system through the use of web services.

      Key features of the system:
  • Full cycle of sales for insurance contracts.
  • Accounting for insurance contracts.
  • Accounting for broker and staff commissions.
  • Accounting earned premium broker and staff.
  • Accounting policy cancellation.
  • Settlement of insurance claims.
  • Monitoring the timely payment of payments.
  • Creating and sending invoices to customers.
  • Control end of the contract.
  • Accounting for the customer base.
  • Accounting for legal entities and individuals.
  • Keeping data on partner companies.
  • Supports multi-user mode..
  • Restricting access to the resources of the program staff.
  • Unloading of various reporting forms in the format MS Excel.
  • Policies import from MS Excel.
  • The module reports and analysis.
  • Journal of offers accounting.
  • Customer service.
  • A powerful set of filters for all pages.
  • Tweaking the system and interface.
  • Multilinguality.
  • Premiums Calculator.
  • Powerfull API for communicating with other client systems.

 

And more …

  • Input and manage information over the Internet.
  • Powerful functionality necessary for any brokerage company.
  • Detailed set of filters to search for and retrieve information.
  • Tracking and auditing of user actions severely restrict user access to data.
  • Database security, database integrity, synchronization transactions.
  • Easy integration with other systems, such as financial.
  • Fast Implementation.
  • Minimum cost.
  • The flexibility of the system.
  • Availability of support and development of the system.
Modern IT
about
About Our Company

Our main focus is on the development and implementation of systems for the management and optimization of business processes in the insurance and brokerage company based on web technologies. We have extensive experience in information technology in the field of insurance and reinsurance.

We are not staying at one place, we actively following news and try to use more high-tech solutions for the set goals. Our goal – is to create innovative and competitive products.

We are always ready to offer our customersbetter terms than others, a professional approach and careful compliance with its obligations.

Our principle: Customer is not obliged to deal in computer technology and to invent new functionality, he only puts the business problem, and we propose and implement complete solutions.

We have teamed up with Data House (a major developer software solutions for insurance).

Our company is a party PanBaltic cluster.

Moving your business forward
Email: office@modernit.lv
Phone: +371 22 14 37 94
Name: SIA Modern IT
Reg. No.: 40103481569
Company
Bank name: Swedbank
S.W.I.F.T.: HABALV22
Acc. number (multi): LV49HABA0551036420695
Bank
Latvia, Riga,
Peitavas 4 street.
Address