Policy Administration System (iPAS) - Overview

Details

DB Results has created the Policy Administration System (iPAS), a fit-for-purpose PAS configured in only 3 months. Your rules, regulations & products. A simplified user interface your staff will find as easy to use as an iPhone. iPAS makes doing business faster & cheaper, allowing you to quickly adapt to market changes & keep ahead of your competition.

Release notes ()

Key benefits

iPAS will:

- Reduce your license and operating costs compared to slow and expensive legacy PAS systems

- Allow you to get new products into the market faster so you can stay ahead of your competitors

- Help you reduce churn to competitor offers

- Give your staff the data they need for their role quickly and easily

- Reduce your dependency on expensive technical SMEs/vendors to maintain your PAS systems

- Finally retire/decommission outdated legacy systems

- Take half the cost & a third of the time to implement compared to other solutions

- Reduce ongoing costs & consolidate other legacy PAS's and help plan future acquisitions

Problems Addressed / Key Features

- Party Maintenance

- Policy Maintenance

- Unit Price Registry

- Policy Events

- Investment Options Maintenance

- Transaction Registry

- Audit Trail

Technical details

IPAS is a fit for purpose PAS solution to cater for Unit Linked Investment Products and Annuity Products

Quote
- Allow users to create quote and set up the Policy owner details and address , life insured, beneficiary and Payment details.
Policies – allow users to view or edit the information below and manage the policy.
- Search/filter and view Policies
- account details
- Policy owners
- Beneficiaries
- Lives insured.
- policy balance
- direct debit details
- investment plan
- transactions
- notes
- Transfer of ownership
- Switch
- Future allocation
- Withdrawal
- Death claim
- Additional contributions
- audit log
Approvals
- Reject or approve withdrawal request.
Reports
- Dishonor report
- Vesting report
- Maturity report
Unit Prices and Investment Options
- Unit prices
- Investment options, investment codes, activation date and termination date
Indexation Configuration
- Set up indexation percentage.

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