PROFIDA Administrator Edition
The PROFIDA software suite is endless scalable, extendable and can grow with your business in any direction. Its underlying structure makes it the ideal platform to achieve customisation in a relative short period of time.
The PROFIDA® Development Team is well-known for its quality customised developments and in-time-delivery within the financial services and insurance industry.
The Team has already successfully customised PROFIDA® for cell captives, underwriters and administrators.
Customised extensions are seamlessly integrated within PROFIDA®. The customised facilities and functionalities solved already the following system challenges for our clients:
Administering of Single Premium Policies
A cell captive joined the PROFIDA® User Group in 2006 to administer its legacy insurance book of once-off premium policies and its new business of monthly-premium-policies.
Legislation required the credit insurance industry to change policy payment frequencies from single lumpsum to monthly payment as of July 2006.
PROFIDA®'s facility to calculate automatically premium earned for monthly policies was extended to accomodate the legacy insurance book of lumpsum policies.
Management of Upfront Commission
Our client pays out upfront commission to a dealer's sales force although the dealer is entitled to recurring commission only. Our client charges interests for the upfront paid amount.
PROFIDA®'s commission calculation facility has been extended to accomodate this scenario in terms of the calculation for the upfront amounts, interests, claw-back, management of trust funds as well output on commission statements.
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