The African Insurance Organisation

1
The African Insurance Organisation

• Serving the African
• Insurance industry
• Organisation des Assurances Africaines

2
African Insurance Organisation

• A Presentation of the AIO Insurance Software
• Developed with the assistance of UNCTAD and
  leading insurers and reinsurers operating in
  Africa

3
AIO Software Objectives

• To Provide members with affordable and functional
  software that handles
• Underwriting
• Claims
• Reinsurance
• Accounts
• MIS

4
The AIO Software Specifications

• Windows NT/Windows 2000/XP
• Microsoft SQL Server
• Multi-lingual, multi-currency, multi-date,
• Single-user or multi-user
• Modular
• User defined setup options
• Context sensitive on-line help

5
System Design Concepts

• Designed for insurance people with minimum
  programming knowledge
• PC based, with Standard windows interface
• Uniform presentation and set up for all classes
• Detailed operating manual for each class and
  activity
• User-friendly system

6
System Setup

• The system allows main set up options at head
  office level for functions applicable
  system-wide.
• Underwriting, Claims and Reinsurance details will
  be set up under each class of insurance.
• Plenty of pre-defined industry standard outputs
  and reports additional reports to be defined
  easily by users.

7
Main Setup

• Head office
• Divisions
• Branches
• Sub-Branches
• Class Groups
• Classes / sub-classes
• Accounts/sub-accounts

8
UNDERWRITING

• There is a uniform approach to underwriting in
  all classes - only activities specific to each
  class are highlighted.
• Various codes, rates and underwriting details are
  defined for each class
• each company can define the above in accordance
  with its requirements

9
Underwriting Transactions

• Proposal processing
• Premium calculation
• Reinsurance allocation
• Co-insurance details
• Treaty programme structure
• Calculating treaty capacity

10
Underwriting - Transactions

• Continued
• Pre-renewal routines
• Renewal processing
• Policy/item maintenance
• Premium adjustment
• Policy cancellation

11
Underwriting - Reports Outputs

• The system produces all reports and outputs
  required by an insurance company whether it is
  policy documentation and statements for clients,
  reinsurers, agents, tax authorities, and internal
  management reports.
• Main reports are shown below.

12
Underwriting - Outputs

• Policy schedule
• Debit/credit note for
• Policy holder
• Sales person
• Co-insurer
• Reinsurer/Broker

13
Underwriting - Reports

• Gross written premium/Net written premium
• by Class, Class group, by geographic zones
• by U/W year by sales person, etc.
• Premium ceded bordereau
• Production and commission summary by sales person
• Taxes and charges
• Underwriting vouchers List

14
Underwriting - Reports

• Continued
• Policy Register
• Risk Profile (sum insured/MPL basis)
• Renewal scrutiny list
• Renewal list, by office and sales person
• Lapse list, policy cancellation list
• UNEARNED PREMIUMS
• You need more reports?

15
CLAIMS

• The claims sub-module enables the company to
  maintain up-to-date information on the status of
  claims, whether paid or outstanding
• Allocation of claims to reinsurers and
  co-insurers, accumulation and analysis are
  handled by the system.

16
Claims - Setup

• Cause of loss codes
• Claim payee types
• Claim repudiation reasons
• Claim write-off reasons
• Claim expense types
• EVENT MAINTENANCE

17
Claims - Transactions

• Notifications
• Payment
• Recovery
• Revision/Closure
• Reinstatement
• Claim Allocation

18
Claims - Reports/Outputs

• Debit/credit note for payee, co-insurer,
  facultative reinsurer
• Gross/Net claims paid by U/W year
• Claims ceded bordereau
• Loss Profile
• O/S claims list, bordereau
• Contingent recoveries summary detail
• Claim vouchers list

19
REINSURANCE

• The system provides treaty setup procedures for
  proportional and non-proportional reinsurance
• Underwriting and claims transactions are
  automatically applied to the appropriate
  reinsurance programme
• Quarter-end and year-end procedures, treaty
  renewal and cancellations, etc. are fully handled
  by the system

20
Reinsurance - Proportional

• Treaty setup
• Quarter-end procedures
• Year-end procedures
• Treaty renewal
• Treaty cancellation

21
Reinsurance - non-proportional

• Treaty setup
• Treaty renewal
• MNDP distribution
• Premium adjustment
• Reinstatement of cover
• Treaty cancellation

22
Reinsurance - Outputs/Reports

• Proportional
• Treaty record - cession section
• Treaty statement of account
• Portfolio transfer account
• Profit commission statement (clean cut)
• Profit commission statement (U/W year)
• Treaty statistics (clean cut, U/w year basis)
• Loss carried forward register
• Reinsurers statement of account

23
Reinsurance - Outputs/Reports

• Non-Proportional
• X/Loss treaty record - cession section
• MNDP distribution
• Credit Note (MNDP installment)
• X/Loss premium adjustment
• Distribution schedule - X/Loss premium adjustment
• Reinsurers statement of account

24
ACCOUNTING

• The insurance system can be used as a stand-alone
  module, or can be integrated fully with a
  financial accounting software developed in the
  windows environment
• There are a number of such accounting packages,
  one of which is Microsoft Great Plains Dynamics
• Companies may also opt to use other accounting
  modules of their choice.

25
Accounts - Activities

• Voucher transaction entry
• Applying vouchers
• Month-end procedures
• Sales commissions
• Statements of account
• Year-end procedures
• Closing the financial year

26
Accounts - Financial Statements

• From financial module
• Balance Sheet
• Revenue Account
• Profit and Loss Statement
• Cash Flows Statement
• Trial Balance

27
Accounts - Reports/Outputs

• Aged clients statement of account
• Commissions and commission provisions by U/W
  year, class and salesperson
• GL transactions list, summary
• Accounts voucher list
• You need more reports?

28
System Utilities and Tools

• System security
• Data security
• Activity tracking
• Multi-lingual functions
• Multi-currency functions
• Multi-date functions
• Business alerts

29
Support Service

• Advice guidelines to convert existing operation
  
• Installation
• Training
• Maintenance and support
• Free upgrades and enhancements

30
Pricing

• Affordable
• Based on size of company
• Price components include
• Number of branches and users
• Number of classes written
• Discount for large number of users per market