IBM PureApplication System
|Provided by: DynaFront Systems Berhad|
||Version: Version 4.2|
PrecentiaLife is a comprehensive life insurance administration system that supports a wide range of product classes. It provides a full ensemble of functions a) Product Setup b) New Business c) Policy Servicing d) Claim e) Collections and Payments f) Channel Management and Compensation g) RI h) GL for Accounts
PrecentiaLife (formerly known as PowerLife) brings the customer closer by striving excellent service with automation of processing cycle thereby replacing manual intervention. a) Prompt, efficient and personalized customer service Customer service & relationship is knit bodies that come hand-in-hand meaning better customer service begets better customer relationship. The system provides “Speedy Service and Delivery” where all transactions are approved expeditiously. This eliminates multiple process layers that cause long and tedious procedures. Customers no longer have to wait for days for approval of any transactions b) Customer centricity PrecentiaLife is customer centric by providing support to business processes, including sales and service. Each interaction with a customer is generally added to a customer's contact history, and staff can retrieve information on customers from the database as necessary. Customer Centricity covers the direct interaction with customers, for a variety of different purposes, including feedback and issue-reporting. c)High Productivity Higher productivity is achieved by delegating the full cycle of administrative processes to PrecentiaLife. Administrators are essentially able to focus on planning and management work without having to diverge to menial mundane administrative work thereby attaining cost efficiency. c) Flexibility PrecentiaLife is structurally parameterized driven thus launching of new products is now within a weeks.
Business CasePrecentiaLife is a highly integrated and comprehensive system with the following intrinsic attributes. a) Flexibility It is structurally parameterized driven thus giving the freedom for users to alter the governing criterions as and when necessary. Launching of new products where it used to be months away is now within a weeks. Each process is designed to be modular and object driven. b) Scalability It is highly scalable to accommodate business expansion and growth through introduction of new distribution channels and product horizons. c) Web-based in order to penetrate e-market space in immediate term. d) Strong infrastructure / foundation to operate mobile commerce capabilities through PDA and SMS. e) Reliability PrecentiaLife has been operational since year 1999 and has undergone numerous enhancements to cater for the changing industrial needs. Its reliability has been proven since then with the successful installation in many companies in the pacific region. f) Customer Centricity PrecentiaLife has the common client capability across all lines of insurance and distribution to achieve customer-centric framework. It enables the users to perceive policies based on per customer thereby enhancing customer servicing. Essentially, the design of PrecentiaLife is designed to support different product classes to fit various distribution channels. It has the capability of administering and processing policies differently in each distribution. PrecentiaLife gives such functions by way of user specifying the necessary parameters in the maintenance table to tailor for different business.
Business ProblemPrecentiaLife has proven to be profit-generating avenue with its strong technology and system design. It empowers companies to launch a comprehensive range of product class within weeks whilst driving operating costs efficiently and effectively. Its true uniqueness derives from the point that PrecentiaLife provides the launching platform for companies to venture into new insurance products horizon readily.
PrecentiaLife caters for Traditional Life, Investment-linked, Universal life, Medical and Annuity business with the following full functionalities. a) Product Maintenance The central intelligence for all the modules which defines properties of products relating to the administration of the business. b) New Business Handles all new business processes c) Policy Servicing Handles for servicing of policies d) Claims Handles claim processing for all ranges of coverages e) Collections and Payments Handles all payments and disbursements f) Channel Management and Compensation Manage movements of sales persons and all related compensations g) Reinsurance h) GL for Accounts
Name: Ho Yee Karm