Policy Administration
- Administration of all types and classes of insurance policies (life, medical, employee benefits, short-term personal lines and commercial, warranties, specialist insurance).
- Quotation, underwriting and issuing of policies in English and Afrikaans with automatic generation of statutory notice and/or welcome letter, policy wording and whatever else is required (e.g. full wellcome pack).
- New business, endorsements, amendments, renewals, cancellations, lapses, reinstatements.
- Automatic generation of different policy numbers for different products and schemes.
- Fully automated rating, highly customisable (table-based or script-based or Excel-based).
- Fully customisable quotation module.
- Mandated authority on predefined limits and extensive permission and access rules.
- Support for more than one policyholder, payer, signatory, beneficiary per policy.
- Flexible premium increase facility, even with a preview of the outcome.
- Parameter driven product, group scheme and employee benefits setup with many training videos and examples, standard products are available out of the box.
- Cusomisable policy reports and standard letters the way you like it and fully matching your corporate identity.
- Rules- and event-based client communication setup.
- Rules- and event-based policy workflow.
Client Database
- Repository for any individuals, companies and organisations of all forms.
- Unlimited storage and history of different types of (risk) addresses and contact numbers per prospect, client, broker, doctors, hospitals, repairers, other 3rd party suppliers.
- Verification of ID numbers, which also serves as duplicate client check.
- Verification of postal codes.
- Verification of bank account and credit card details.
- Additional custom fields can be added, undesried fields removed, fields made mandatory and given a special color.
- Automated workflow depending on the state of a party (lead, prospect, client, member, deceased, inactive).
- Document management without space limitations.
- Repository of broker's FSB License as well as description and status of license.
- POPIA Rules and Regulations.
- FICA Rules and Screening including ongoing automated screening.
- Client segregation by profitability or other rules.
- Client separation by department or between partners using the same Profida cloud instance, sharing can be activated per record as-and-when cooperation is desired.
Group Schemes & Empolyee Benefits
- Profida offers special features to make administering group schemes and employee benefits a breeze.
- Supported are many kinds of group schemes like funeral group schemes, special interest groups as well as dedicated employee benefits and pension fund schemes.
Insurer & UMA Features
- The insurer and UMA subscription includes all features of Profida without any limitation. Scroll up and scroll down.
- Supported products are life, funeral, medical, personal lines, business, commercial, corporate, agriculture, engineering, marine, niche products, travel, taxi, hospitality, legal, liability, warranty.
Long-Term Broker Features
- Long-Term insurance brokers usually do not need underwriting, reinsurance and financial accounting related features so these do not come with the broker subscription.
- Profida's Financial Needs Analysis tool covers estate planning, needs in case of disability and severe illness as well as pre- and post-retirement planning.
- In case of needing a quick financial view of the client, the Quick FNA is the perfect starting point.
- The integration with Astute make downloading and updating of the clients insurance and investment portfolio a breeze.
- The Portfolio Schedule is an excellent report for showing the broker and the client in a compact form how their portfolio looks like. It allows to also show quoted policies and investments and the impact on the client's needs. It comes in a per person and whole family variant.
- 23 currencies are auto-downloaded on a daily basis and related investment values updated accordingly
- Record of Advise and other record keeping features ensure compliance with the various legislations.
- Investment and portfolio reports show how various client portfolios perform and where rebalancing might be appropriate, they also provide a competitive format to bulk email to clients on a monthly or quarterly basis.
- Business Analysis features provide deep insights which prospects and clients are most profitable, how long ago the last contact was, segmentation hints, asset allocation and far more.
Short-Term Broker Features
- Short-Term insurance brokers usually do not need underwriting, reinsurance and financial accounting related features so these do not come with the broker subscription.
- Brokers have the option to either capture the policy in detail as it is on the schedule or instead use Profida's document management feature and attach every new policy schedule, creating a tracable history.
- Out the box and ready to use insurance product templates for the most common use cases like short-term personal lines with all common sections, commercial lines multi-mark 3, hospitality insurance, agriculture insurance, specialised motor insurance.
- The data mining and cross-marketing features allow potential placement of additional policies.
- Record of Advise and other record keeping features ensure compliance with the various legislations.
- The workflow components in Profida make it easy to arrange and track progress of claim notifications to insurers and/or assessors.
- Business Analysis features provide deep insights which prospects and clients are most profitable, how long ago the last contact was, segmentation hints and far more.
Financial Accounting
- Automated and ad-hock debit order collections via any of the 15 integrated banks and money collection bureaux.
- Automated and manual processing of commission, fee, claim and third party payments via any of the 15 integrated banks and money collection bureaux.
- Manual capturing of premiums paid (inhouse staff salary deductions, EFT or cash payments).
- Invoicing Module, can be activated for those insurance products and payment frequencies where it is required, It comes with customisable reports.
- Importation of bulk premium receipts from bank accounts, other systems or employers.
- Receipting of partial under- and over-payments and automated allocation to policy premium.
- Automated receipting of EasyPay payments.
- Rule-based and automated as well as manual refund procedures.
- VAT rules can be enabled or disabled on the related product.
- Processing of electronic unpaid files (RDs) as well as capturing these manually.
- Correspondence triggered to be automatically printed or emailed based on RDs reasons.
- Time based transactions with ability to display status at any given date.
- Commission and fee administration with dedicated statements.
- Excel bordereaux providing many levels of detail relating to policy amendments, collected amounts, pro-rata premiums, underwriting premiums, fees.
- Management Information Reporting.
- Reinsurance module to capture your agreements the way they are, Profida calculates the splits automatically based on your setup.
Claims Management
- Claims are right on the policy and use the policy rules and benefits for validation and during authorisation.
- Multiple claim authorisation levels and approval limit are available.
- Claim escallation levels for specific override requests and exceptions.
- Customisable and integrated claims workflow with automation hooks.
- Integrated with Profida's document management facility.
- Automatic generation of claim number.
- Customisable automated client notification about the status and progress of the claim.
- Full claim accounting with detailed breakdown of assessor(s), repairer, workshop, car hire, doctor(s), hospital, excess, 3rd parties, reinsurance, payment(s) to insured, salvage, recoveries.
- Reinsurance recoverable initiated from claims transactions.
- VAT rules can be enabled or disabled on the related product.
- Future scheduled claim payments for income protection and disability policies.
- Multiple items from different sections can be claimed from within same claim.
- If the same incident is covered by other policies then this is displayed as a hint on the claim.
- Different conditions of claim settlement.
- Library of customisable claim letters and forms.
Statistical Reporting and Management Information
- Standard baseline suite of reports.
- Many filters are available to allow for finegrained results and analyis from different angles.
- Most of these reports as in MS Excel format for ultimate flexibility.
- Statistical Reports like collection and unpaid statistic, broker statistics and performance, claims statistic and profitability.
- Risk Analysis Reports.
- Age Analysis Reports (outstanding premiums).
- Segmentation and Profitability Analysis Reports.
- Insurer Integrations and automated daily and monthly data upload.
- Dedicated insurer-specific reporting.
- Marketing and campaigns with integrated email and SMS bulk mail capabilities.
- Data mining and segmentation with over 450 fields and filters, identify age and gender groups, cross-marketing potential, new business tracking and so much more.
Workflow and Document Management
- Record keeping as required by FAIS.
- Task management and To-Do-Lists.
- Diary management.
- Bulk processing of reports and standard letters.
- Reminders for tasks and follow-ups.
- Sending of individual adhoc as well as bulk emails.
- MS Outlook integration to send emails straight into Profida.
- Task-triggered and automatically created actions like a 'new claim' is sending out a claim form or a 'change of quotation status to accepted' emails a policy schedule or welcome pack.
- Correspondence triggered to be automatically emailed based on events like new business captured (print/email: welcome letter) or policy cancelled (print/email: confirmation letter).
- Any kind of electronic documents can be attached to a client, policy or claim record, type, topic, description and other data mining fields are available as well.
- Automated birthday reminders and messages.
- Generated reports can be auto-archived for record keeping and compliance audits.
- PDSs can be auto-encrypted with 256-bit encryption, exceptions for various reports can be defined as well.
Security & Permission Management
- Login is password protected with a maximum number of reties. The login is auto-locked after the maximum rety is reached. Only authorised users can unlock a locked user. This creates the highes level of security together with the rules below.
- All login attemps are recorded with login name, status, date, time, IP Address. This allows for in-depth audit trails. Automated exception and warning emails can be activated as well.
- Customisable password rules, time-based and IP Address-based access rules.
- Different levels of permissions for groups of users or departments, all fully customisable.
- All passwords are stored in encypted form.
- All logins, data access and exchanges are fully encypted.
3rd Party Integrations
- Profida's RESTful webservices API can be utilised by your developers for integrating with any other 3rd party system which supports REST calls.
- We also offer customisations for dedicated integrations to any system which supports integrations and interaction with another system.
- Many out of the box 3rd party integrations are already available within Profida: all major South African Banks, many collection and payment bureaux, EasyPay, Astute, Orbital Sanction Screening, UN Sanction Screening, many of South Africa's insurers.
Secure & Encrypted Portals
- Secure Client Portual, clients can access their details and policies and claims via their phone, tablet or laptop.
- Secure Broker Portual, allow brokers and agents to do their own quotations and make controlled amendments to client and/or policy data. All is access-rule and permission driven, so can be customised on a fine-grained level.
- Compliance Officer Online Portal, allow your compliance officers to login via a dedicated read-only login, giving them access to what they are looking for without overwhelming them with features they do not need.
- Insurer Audit Portal, allow read-only access to your Profida policy data for dedicated auditors from the insurers you work with. Profida ensures they get access to what they need and nothing more.
- Group Admin Portal, enable group admins and human resources departments to work directly on your group data, their access and what they can change is limited, based on strict permissions enforcement.