BRICS Claims Management is focused on leveraging instant access to complete risk information and performing validations which ensure that only valid claims are entertained thus reducing processing times and enhanced customer service
Policy Terms
The system allows recording of full policy details, including Order %, Line %, Signed Line %, Premium Payment Warranty dates, Co-insurance information including participating co-insurer and special terms etc.
Policy Issuance and Documentation
The system generates complete Policy Documentation including Schedules, Certificates, Cover Notes, Debit Notes, Wordings and Endorsements and attaches it to the individual risk. The documentation can be emailed directly to the broker or client.
Mid Term Adjustments, Renewals, Cancellations
System allows active policies to be amended by Mid Term Adjustments/Endorsements only. Actions supported include forward and backdated amendments, cancellations, and reinstatement. Complete versioning of the policy is maintained giving the users the ability to see how a policy looked at any point in time, and validating against the correct version of the policy in the event of a claim. The endorsements can be automatically rated based on the rules defined in the rating matrix. On exit, the user can accept or discards the transaction. Any premium subject to collection or refund is automatically calculated, and all documents are printed automatically.
Policy Documentation
The system produces complete policy documentation including Schedules, Cover Notes, Debit Notes, Certificates, Wordings and Endorsements in a secure PDF format. All documentation can easily be emailed or faxed directly to the broker. All activities are recorded to the Transaction Log for Audit Trail.
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