“Electronic system for accepting payments for market services” is a functional subsystem of the Integrated Automated Banking System of a commercial bank (IABS).

Reception system payments

Accounting for insurance contracts

PURPOSE The software package “Insurance Contracts Accounting” is one of the modules of the enterprise management system “Fido Business Suite”, designed for complex automation (ERP system) of the activities of an insurance company, and allows you to automate the work of all divisions of the company in a single information base. PC “Accounting for Insurance Contracts” was developed with the aim of improving management processes and automating the work of large insurance companies in terms of accounting, control and execution of insurance contracts, movement of funds, accounting and management accounting carried out at all stages of the company’s work. Tasks SOLVED by PC “ACCOUNTING OF INSURANCE CONTRACTS”:
  • Managing a portfolio of insurance contracts.
  • Management of a portfolio of reinsurance contracts.
  • Loss settlement management.
  • Calculation of insurance technical reserves.
  • Managing work with agents.
  • Financial management.
  • Preparation of reporting materials on the company’s activities.
MAIN FUNCTIONS OF THE PC “ACCOUNTING OF INSURANCE CONTRACTS”: The functionality of the complex covers the entire life cycle of maintaining and recording insurance contracts: from accepting an application for insurance, creating a draft insurance contract, agreeing and signing an insurance contract, accounting for insurance payments, insured events, and ending with the closure of insurance contracts:
  • The “Maintaining policyholders, insurers and insurance agents” function is designed to enter, store and search information about policyholders, insurers and insurance agents.
  • The “Maintain Insurance Applications” function is intended for entering, reviewing, deciding, storing and searching for insurance applications.
  • The “Maintaining Insurance Contracts” function is designed to work with insurance contracts and insurance objects, taking into account the currency of the contract, discount on the contract, payment options for contracts, etc. Files with electronic documents can be attached to the insurance contract.
  • The “Claims Settlement” function is designed to record insured events. Information about insured events includes: data on the insured event that occurred, the amount of damage claimed and the amount of payment, the reason for refusal of compensation, etc. It is possible to attach files with electronic documents on the insured event.
  • The “Maintaining Reinsurance Agreements” function is designed to work with reinsurance agreements and to record transferred or accepted obligations under insurance risks.
  • The “Calculation of Tariff Rates” function is designed to calculate tariff rates by type of insurance, taking into account existing rules and the specifics of the insurance company and insurance risks.
  • Function “Calculation of insurance reserves”:
- Reserve for unearned RNP bonus by accounting groups. - Reserve for declared but not settled losses (RLU). - Reserve for incurred but unreported losses (IBNR). - Reserve of preventive measures.
  • The “Analytics and Information” function allows you to receive standard and analytical reporting, in particular:
- Reports on insurance reserves under insurance contracts. - Reports on insurance reserves by type of insurance. - Journal of insurance contracts. - Journal of reported losses, etc.
  • The function “Accounting for strict reporting forms” with full preservation of history for all issued forms and receiving operational reports on the movement of forms.
  • The “Maintaining normative and reference information” function ensures that the normative reference information necessary for the functioning of the complex is maintained and kept up to date. Main reference books: objects of insurance, types of insurance (with insurance rates), types of insurance activities, classes of insurance, risk groups, risks, etc.
  • The “Administration” function provides programmatic protection against unauthorized access to the system, management of access rights to certain operating modes for various categories of users, and monitoring of user actions and powers.
  • The “Maintain Organizational Structure” function is designed to take into account the internal structure of the insurance company, such as the list and hierarchy of divisions and departments, list of employees.
Logging the work of system users and delineating user access rights prevent unauthorized access to the system and to insurance contracts. Ensuring security in the “Insurance Contracts Accounting” PC allows you to achieve the integrity and safety of the insurance company’s information resources, the stable functioning of the facility, and also create comfortable and safe working conditions for system users. PC “ACCOUNTING OF INSURANCE CONTRACTS” meets the following basic technical requirements:
  • The complex was implemented using modern technologies and built on modern industriesdata platforms (OS, DBMS, etc.), which makes it flexible, open and scalable.
  • The complex works with a single information database controlled by the Oracle 10G DBMS and has the ability to further integrate with other automated systems.
  • Unified data warehouse for managing an insurance company with a complex organizational structure.
  • Reliability and high speed of processing large volumes of data.
  • Efficiency and support for distributed work.
  • Complete functionality in the field of insurance accounting.
  • Flexibility, the ability to quickly create and record new products.
  • High scalability:
  • simple and standard replication of the system to geographically new points of sale of the company's insurance services
  • ensuring the possibility of convenient creation and operation of new insurance products.
  • Openness, that is, the ability to adapt the system to constantly changing business requirements.
  • A single information space that prevents duplication of data and ensures its relevance and consistency at any time.
  • Easy to configure and adapt the system in accordance with the organizational and functional characteristics of the company.
  • Comprehensive information protection:
  • from unauthorized access at the application level and server protection
  • at the level of customizable user roles and access organization in strict accordance with their job responsibilities.
  • Creating various reports and obtaining statistical data.
  • Full compliance of exported output document data formats with current legal requirements, guidelines and regulatory requirements of relevant ministries and departments.
  • Full coordination of the management activities of an insurance company, group of insurance companies or insurance holding company.
  • Integration of operational accounting of insurance contracts with the functions of accounting and formation of insurance reserves.
Complex is easy to customize. Flexibility and ease of configuration allow users to make timely changes in accordance with new requirements and changes in business practices and legislation. PC "ACCOUNTING OF INSURANCE CONTRACTS"can be used in insurance groups and holdings to operate several companies simultaneously. In such work, the common information field is data on clients, partners and other entities, reference data on exchange rates, and types of memorial orders. Data such as insurance contracts and policies, memorial orders, payment orders, accounting entries are unique for each company and are not available to users of other companies in the group or holding.

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