Highly customisable insurance policy administration engine suitable and adjustable for any kind of insurance policy, no matter how innovative. This is a full start-to-end solution.
Its high-sophisticated design makes it possible that any insurance product within life, funeral, medical, personal lines, business, commercial, corporate, agriculture, engineering, marine, niche products e.g. 4x4, travel, taxi, hospitality, legal, liability, warranty is supported. The product setup engine comes with a user interface to setup any combination of risk coverage and rules. Products can be duplicated as well as exported and imported into other databases so they can be tested in a UAT environment first without the need to re-capture them again in production.
With Profida's powerful and fully integrated rating engine any kind of premium (pro-rated or not) can be calculated automatically. The rating setup is fully date driven so backdated as well as future dated rate changes are fully supported. The rating can be tight to a huge variety of underwriting criteria. Table-based rating, JavaScript-based rating as well as Profida automatically executing formulae from within a rating Excel spreadsheet can be utilised to achieve any kind of rating need.
Many filters like by product, section, group scheme, broker, date range, payment frequency and other variables allow fine tuning which policies are affected by the premium increase. A premium increase pre-check feature is available as well. Premium increases can be scheduled and executed ahead of time as everything in Profida's accounting is date-driven.
Invoicing can be enabled as and when required for insurance products/policies. It comes with default invoice templates which can be further customised. The invoice breakdown is automated and custom line items can be added as well.
Treaty as well as facultative reinsurance module with automated split calculations and allocations. Reinsurance related reporting.
All transactions with detailed breakdowns relating to any policy are kept and are available for insurer and historical reporting and analysis. Different pro-rata modes are available and these can be switched off as well to accommodate the various insurance billing and accounting requirements. Profida supports accrual-based accounting as well as accounting on the cash-basis.
Multiple claims may be registered against one policy if the rules permit this. Claims have automated and rule-based fraud prevention mechanisms. Multiple, customisable authorisation levels exist. Each claim has its own build in workflow and full accounting breakdown. The full claim history is available right on the policy as well as via comprehensive claims reporting and analysis.
The highly customisable, rule-based workflow engine allows you to setup Profida the way you require it. We belief that software should be adjustable to the business and not the other way round.
Profida comes with its own fully capable and customisable CRM system. It supports the full client take on process from lead, prospect, quotation, client, risk assessment, underwriting and cross-product marketing campaigns. Fields and menues not required can be made hidden as well as given different colors and options. You can also add your own custom fields. Individual or bulk communication is availalbe via email or SMS and soon WhatsApp.
Comprehensive financial planning engine as well as a quick FNA are both available. The reports are customisable and all data within Profida is used without any need to re-capture already existing data.
The custom report designer allows you to setup reports so the fully match your corporate identity. They can be either in PDF or in MS Word format. PDFs can be encrypted with 256-bit which is basically unhackable. Even policy schedules can be adjusted or created from scratch. We have two language options available, English and Afrikaans. When executing a report, the language is auto-selected based on the client's language preferences.
End-to-end automation designed to optimize repetitive administrative loops and data routing rules flawlessly.
Robust underlying infrastructure constructed natively using object-oriented layout structures built for speed. We are using the same underlying framework and engines for execution and security as 300 of the world's top 500 banks!
Data analysis, reporting and tracking integrations to interface with 3rd parties.
Secure distributed application network access optimized for handling huge remote requests.
Clean interface configurations providing straightforward functional layout layers regardless of monitor dimension settings.
Flexible dynamic structural parameters capable of effortlessly adapting to your organizational needs.