PROFIDA Administrator well received at IISA 2008

Computer Science Software, developer of leading insurance policy administration systems, presented the PROFIDA Administrator Edition at the recent 2008 conference of the Insurance Institute of South Africa (IISA) where the technology attracted attention due to its ability to support insurers’ efforts to serve the ‘under-banked’ market.

Daniel Putra, Managing Director of PROFIDA, said delegates were interested in the software’s ability to integrate with EasyPay, a leading provider of electronic funds transfer and bill payment-processing services.

“This was developed in response to the need by insurers and underwriters to support new payment methods that serve their "un-banked" and "under-banked" markets effectively.”

With EasyPay, when issuing a policy a unique number is generated and printed on the schedule. Customers can take the policy schedule to retailers like Pick’n Pay or Checkers and make payments at till points. PROFIDA reconciles the EasyPay payments on a daily basis via the Internet.

“We are very proud to have the PROFIDA Administration Edition integrating with EasyPay. This signals our commitment to meeting clients’ needs to employ profitable and feasible solutions for the management of their entry-level products,” explained Putra.

Another innovation is the PROFIDA Rating and Quotation Engine, designed in such a way that rates can be changed on the fly. It manages multiple products and all classes of short-term insurance, and is geared to support niche and value-added products like roadside assistance and life product add-ons like funeral or accident cover.

Quotations can be fully customised and users can include notes for clients to explain sections, covers, excesses and other quote-related issues.

Said Putra: “This gives great flexibility to first find the best rate for each section of cover. When happy with the result the new rates for specific sections only or for the entire product can be applied.”