TOOLS TO STREAMLINE INSURANCE OPERATIONS

Innosys can assist you to resolve common MGA pain-points by supplementing your primary risk processing and policy administration system with selected tools, tailored and integrated to fit seamlessly into your systems and processes.

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  Risk Assessment & Management Solution

  Execute evaluation-based processes in a completely digital way, freeing you from cumbersome spreadsheets and email follow-ups. From building a questionnaire template, to executing an online assessment and fully managing the outcomes, our tool unlocks efficiency and traceability at every step.

  Property underwriting, product review, audit readiness, delegated authority management, and many more can be easily managed and integrated into your enterprise solutions.

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  Outgoing Carrier BDX Production And Transmission

  Managing the sending out of large numbers of carrier and broker bordereaux each month can become a time-consuming task as successful MGAs grow. With our solution, the underwriting operations team can manage the process from production of bordereaux to sending to carrier and broker with just a few clicks through the intuitive user interface across a mix of submission methods from emails to digital gateways as the London insurance market digitizes through initiatives like Blueprint 2.

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  Incoming TPA Claims and Bulk Risk bordereaux processing

  The processing of monthly claims bordereaux from third party claims administrators is made onerous by differences between administrators in bdx format, handling of foreign exchange rules and incorrect policy or binder information. Our solution saves time and improves quality for our clients by selective automation, intelligently detecting possible errors and prompting with corrections through integrating with policy admin data or systems as needed to produce outgoing 5.2 compliant carrier bordereaux.

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  Multi-currency bank statement management

  MGA Operations departments must often manage numerous foreign currency accounts across multiple banks, tracking queries until sufficiently clarified to enable allocation in the primary MGA policy systems, often resorting to supplementary spreadsheets to do so. The Innosys bank statement management application provides an intuitive, simple user interface for easy upload, query tracking and pre-processing to format the output to suit your policy admin and finance systems and enable faster resolution of audit queries.

INSURANCE ADMINISTRATION EXCELLENCE

Systems designed by practitioners who understand the complexity of the global London market.

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  FASTER, SMOOTHER POLICY ADMINISTRATION

  Full policy lifecycle administration for global policies spanning multiple risk-locations with complex taxes and a variety of commission structures. Alongside the policy administration, a powerful, intuitive user interface simplifies multi-currency cash management and facilitates reconciling with carriers and brokers. Audits and queries can be dealt with quickly and easily.

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  Insurance technical accounting

  The powerful insurance accounting engine can be integrated to other policy sale and administration systems marrying premium accounting excellence with your rating and policy sale capability.

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  Commission management

  Efficient, accurate commission calculation and payment management with easy-to-understand remittance advices, invoices and clear, up-to-date reports to carriers and brokers, empowering healthy broker-carrier relationships that ultimately lead to more business.