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SAMAK Insurance Brokering System provides a comprehensive solution for Insurance Brokering Companies with exclusive features, targeted for standardizing and streamlining the Insurance Broker’s operations. The system takes into consideration that the source of income for an Insurance Broker is through Commissions paid by the Insurance Company. Therefore the system keeps track of the effect to commission during each transaction based on a policy. Taking into consideration the most frequent business that handled by this system is Motor Insurance Policy; the system provides greater emphasis on the Motor Insurance related activities. But it provides generalized and highly customizable functions to undertake Non-Motor Insurance Policies as effectively as it handles Motor Policy activities. The system also accommodates up-to date trading practices currently in use.
The following features are included in SAMAK:
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Facility to create and maintain various types of insurance policies in a well structured manner in the system along with relevant rates |
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Facilitation for building quotations, cover notes and policies using the rates defined in the creation of the policy type |
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Automatic calculations of premium rate when relevant selections are made to specify the policy type |
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Facilitation for tracking the progress of each transaction based on a policy with recording of status changes |
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Tracking of relevant documents which are needed for Policy Creation and Claims processes |
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Facility in calculating and invoicing Insurance Companies for commission payments due |
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Facilitation for calculating and paying commissions to the Agents accordingly |
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Facilitation for automatically tracking policies approaching renewals and generating renewal letters accordingly after confirmation from Insurance Company |
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Facilitation for Endorsement processes to make amendments to a policy as well as keeping track of change requests, and Insurer approvals for requests |
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Facilitation for a comprehensive claims process with facility to record obtaining and forwarding relevant documents from the client to the insurer |
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Support for multiple currency transactions |
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Support for integrating activities carried out at branches |
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Generating reminder to relevant users in the system regarding a specific action to be taken on a specific transaction of a policy |
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Flexibility in changing calculation rates at the point of premium calculation to suit the changes |
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Implementation of controls in various stages to support business practices of the Insurance Broker Company |
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| SAVIT | SAMVIN | |
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