ACSEL SUITE

Acsel Suite is a set of collaborative modules that render the system adaptable and flexible, integrating modules to design and manage the various activities of the business value chain and comprising a full insurance platform addressed of the next generation of insurance carriers.

It has been designed to support personal line of business, commercial lines of business, and all kinds of risks within a single integrated system that provides insurance carriers with competitiveness and relevance in the insurance market.

Policy Management

It is one of the most important functionalities in an insurance core, since it controls the life cycle of the business once risks are quoted and written. It includes any line of business, from Personal to Property and Specialty.

Once the quoted risk has been accepted by the client, and it is subscribed by emitting the policy and all of it’s terms and conditions, then all transactions are managed by the system during the life cycle of the policy in question, and such include: Endorsements, increases, returns, cancellations and renewals.

Throughout the policy’s life cycle, the administrative and technical components are managed by the system including: Coverage, premiums, commissions, coinsurance, reinsurance, accounts receivable and/or payable, accumulations, etc.

Sales Channel

The system is very flexible in terms of configuration, and supports any sales channel: Commercial network, distribution media, and commission scheme. The latter includes traditional media such as insurance producers, agents and brokers, as well as insurance banking, telecom insurance, stores, points of sale, cooperatives, digital channels, contact centers, etc. It also provides for definition of commission schemes, bonuses and share information based on the distribution medium. Statements of account and commission payments support any transaction involving commissions, such as reversals, advance payments, loans, incentives, etc.

The policy and the terms and conditions thereof, as well as the receipts, clauses, etc. may be printed at the point of sale or in a centralized manner or may be sent directly to the client in digital format, etc.

Billing and Collection

Based on the distribution medium or sales channel and payment plan selected, the items receivable are billed and the payment mode information is taken for risk period purposes, based on the business rules defined. A collection process may include different payment modes such as sales-channel collection, bank collection (remittances, accounts, debit cards, credit cards), cashiers’ collection, collecting agents and related processes, contact centers, mobile platforms, payment in authorized bodies, etc.

Configuration of the business rules associated with payment plans and modes is of paramount importance to maintain or cancel a policy’s period, as well as to process claims and all administrative transactions associated with the collection process and with the accounts receivable and/or payable that are automatically generated to third parties, as applicable. Payment modes are fully configurable, as are collection processes, and payment modes may be readily changed over a policy’s life.

Claims

The application is extremely flexible when it comes to configuring criteria, conditions, requisites and business rules to manage claims and their life cycle. It has a workflow engine that handles and assigns claims for processing, based on the insured risk, whether Personal or Property or Specialty.

The latter includes notices (via Internet, contact centers, producers, agents, etc.), managing the establishment and release of claim reserves, adjustments, partial or total payments, recoveries, etc., as well as third parties and service channels, as a function of the line of business involved: Health, Vehicle, Life, Industrial Risk, Homeowners, Liability, Bond, Transportation, etc. It is also highly flexible as regards processes for loss adjusters, expert appraisers and inspectors, based on the applicable risk.

Additionally, it includes all transactions and entries that are posted to ledgers and result in accounts payable, receivable and accounting.

• Notices.
• Submission of required documentation and conditions.
• Establishment of reserves.
• Payments and indemnities.
• Adjustments.
• Recoveries (if applicable, depending on the product involved).

Coinsurance

The system supports coinsurance accepted and ceded and handles the administrative transactions in connection with risk, premium, commission, collection, cession, and accounting figures, etc. It includes:

• Co-shares of different companies.
• Commissions.
• Inclusion and exclusion of companies.
• Automatic transactions derived from issuances, changes, cancellations, claim reserves, payment provisions, payments and salvages.
• Operations on the statement of accounts of co-sharing parties.
• Administration, control and configuration associated with coinsurance agreements and financial distribution.
• Policies may be issued and billed with minority or majority coinsurance, with the corresponding accounting records.
• Reconciliation and set-off among insurance companies.

Reinsurance

The system supports reinsurance accepted and ceded, as well as proportional reinsurance, non-proportional reinsurance and facultative reinsurance treaties.

Generally speaking, it includes:

Dynamic configuration of reinsurance treaties.
Administration of proportional reinsurance.
Administration of non-proportional reinsurance.
Facultative reinsurance.

As well as other functionalities such as:

• Definition of treaty types and groups.
• Templates to enter information of all types and business rules.
• Automatic distribution of a policy’s administration and claims as a function of the treaties and effective dates defined.
• Portfolio profiles and transfers.
• Borderaux.
• Technical and current accounts.
• Relationship among events by layers as per the conditions agreed.
• Generation of entries.
• Accounts receivable/payable.
• Relationship among events by layers as per the conditions agreed.
• Generation of entries.
• Accounts receivable/payable.

Accounting

The application generates all insurance entries and posts them to ledgers over the ERP suite of the client, including entries for life-policy funds that handle said items, when applicable. It also generates all receivable and payable accounts, proceeding from the insurance management function itself.

It allows for the configuration of accounting systems, rules to calculate and generate accounting entries based on the transaction being processed, capacity to handle cost centers, third-party analytics, retention, etc.

Its configuration features allows carriers to define entries per transaction, accounts to be debited and/or credited, participants or third parties associated to an entry, and to formulate and calculate entries stemming from taxes, retention, etc., all of which guarantees the integrity of said transactions and their audit-ability. Likewise, it deals with all aspects concerning reserves, such as premium reserves, current risk reserves, mathematical reserves, claim reserves, IBNR reserves, etc.

The latter combines in such a manner that the insurer is able to close accounting years without trauma.