Odyssey – Non Life
- Comprehensive data capture and processing solution for Property & Casualty, Motor, Marine and other lines of business.
- Seamless integration of Policy, Claims, Billing, Reinsurance and Financials
- Standard & customizable reports
The Policy Manager effectively streamlines the entire policy business. It allows users to track the policy details, details about the insured and customer, risk details, co-insurance, premium installments, broking details, policy bill details. On approval the cash loss advices is generated to the reinsurers for their share of claim.
The salient features in the policy manager module are the automated calculation of the premium, taxes and charges, commission through the rule and rating definition in the Product Designer Studio. The workflows of the underwriting module are classified as per the regular business process.
The claims module is totally integrated with the policy module. It allows users to track the claim intimation details such as the loss date, policy no (if known), nature of loss, loss event, The claim assessment allows users to create estimates against the claim breakup heads for claim value, claim admin expenses value and surveyor fees. The claim amendment allows users to amend the estimates created through the assessment. The claim settlement allows users to settle the claim with different settlement types.
Ceded Treaty Re
Ceded Treaty Re allows users to track the direct ceded treaty reinsurance for the policies issued in the company through different treaties and claims recovery from the different reinsurers.
Facultative Re allows users to track the outward facultative business with different reinsurers.
Comprehensive Billing allows users to generate bills offline (which has not been generated online by the transactions).
General Ledger manages the General Ledger transactions, to produce a consolidated final accounts statement.