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Phoenix And TPA
Anodas Software Limited, established in 1999, specializes in providing software solutions and consultancy services tailored for the insurance industry, supported by a skilled workforce of around 2,000 professionals. Their key offering, the Phoenix platform, integrates various functionalities for property, casualty, and general insurance markets, promoting cost efficiency and comprehensive reporting. The company operates under ISO 9001 certification and is an approved Lloyd's coverholder, enabling them to effectively address current challenges like Solvency II and insurance fraud.
Phoenix And TPA
- 1. Market Focused SolutionsIntroducingAnodas Software LtdPlease turn up your speakers to hear the companion audio commentaryCopyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.
- 2. IntroductionAnodas Software Limitedwas established in 1999First class insurance industry knowledge and expertiseDelivering quality insurance specific software solutions, consultancy and third party administration services, quickly and cost effectivelyAccess to highly skilled, globally-positioned workforce of circa 2,000 software professionals and domain expertsISO 9001 certified provider of Onshore, Nearshore and Offshore industry specific software solutions and servicesAuthorised and Regulated by FSAFully Approved Lloyd’s Coverholder Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.2
- 3. Current Market Issues Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.3How well positioned and prepared is your business today, to deal with the issues of tomorrow?Solvency IIInsurance FraudRisk Management
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- 5. Solution - PhoenixPhoenix™- a unique insurance solution providing a single platform for the Property & Casualty and General Insurance markets for Agents, Brokers, Insurers and ReinsurersCore Integrated Product Functionality – Broking, Underwriting, Claims, Reinsurance, Accounting & ReportingCost EfficienciesRapid Development & DeploymentMultiple Territories, Languages & CurrenciesQuality Risk and Reporting AnalysisComprehensive Integration Capabilities Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.5
- 6. Solution - Phoenix Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.6Web-Enabled Front End to PhoenixNew Risk - Quote Generated & Issued
- 7. Solution - PhoenixAutomaticallyGenerated email with Attachments Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.7
- 8. ePhoenix – GeneratedSupporting Documentation – Letter & Quote for Risk Ref: ELT0000982Solution - Phoenix Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.8
- 9. Solution - Phoenix Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.9Phoenix – Back Office Presentation Screen – Administration of Clients/Quotes/Enquiries/System Security/Claims & Diary Functions Back Office – PhoenixFully Configurable toClients Specific Requirements
- 10. Solution - PhoenixResultsof an Insured Search by Name Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.10
- 11. Solution - PhoenixViewBuildings & Other Key Data & Information Using Tabs Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.11
- 12. Solution - Phoenix Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.12View Contents Data & InformationView Actions, Activities or Clauses
- 13. Solution - Phoenix Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.13General Ledger and Statistical Data EntriesMultiple Configurable TabsUsers can View History & Full Lifecycle of the Risk
- 14. Solution - PhoenixAdministrationSystemFully Configurable toClients Specific Requirements Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.14
- 15. Solution - PhoenixSingleR/I Treaty or R/I Portfolio Entry Screen Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.15
- 16. Solution - Phoenix Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.16Automatically Generated Broker StatementStatement Details – Premium, Tax, Commission etc.
- 17. Solution - PhoenixSampleSystem ReportsGenerated for Export to Microsoft Excel Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.17
- 18. Solution - Phoenix Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.18Sample Aged Debt Analysis ReportAged Debt Analysis Report
- 19. Solution - ThirdParty AdministrationUtilising our own Phoenix™ Fully Integrated Software & Hardware Platform and ClaimsPoint™Providing Policy Processing, Claims Administration and Management Facilities to Clients Complete Policy Administration Cycle, with Products and Documents tailored and branded to Individual Client SpecificationsPaid for on a Cost Effective Monthly Lease BasisIdeal for Small to Medium sized Intermediaries, Run-Off’s, and Insurance Companies wanting to rapidly deploy New Lines of Business or Schemes to the MarketNo Expensive Legacy Upgrades, Implementations or Replacement Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.19
- 20. Solution - ThirdParty Administration Key Benefits:No Hardware, Network, Backup or Facility Costs – Just Broadband ConnectionLow Acquisition Costs and Manageable Ongoing Costs (% of GWP)Phoenix™ & ClaimsPoint™ Insurance Solutions providedIdeal for Start-up, Run-Off and Scheme business24/7 Managed Service availableIPR - Your Ratings, we don't restrict your underwriting to match other insurersResponsive Client Services Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.20
- 21. Anodas and ZylogZylogSystems Limited Established in 1995Global PresenceProven Delivery ModelHighly Skilled, Globally Positioned Workforce of circa 2,000Extensive Range of Industry Specific Software SolutionsInsurance (Phoenix™, ClaimsPoint™)Banking & Financial Services (Bank.companion™,CardAlerts™, mWallet™, Quotes.companion™, Portfolio.companion™, Investore™)Field Service Management (FieldPower™)Sustainable Reverse Logistics (Silvanus 360™)Risk Management (Kamakura Risk Manager™)Telecommunications (SMS.Companion™ Z*Connect ™, NOTIS™) Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.21
- 22. Industry RecognitionTop TechnologyIntegrator 2008Ranked 83 for the year 2007 Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved. 22
- 23. Anodas and Zylog– Global Operations Copyright © 2009 Zylog Systems (EUROPE) Ltd. All rights reserved.23
Editor's Notes
- #2 Introducing Anodas Software Limited ... a leading supplier of tailored and scalable software, Third Party Administration services, development andresourcing to the insurance industry.
- #3 Established in 1999, and currently celebrating our 10th Anniversary, Anodas Software Limited -- authorised and regulated by the Financial Services Authority and a full Lloyd’s approved coverholder – provides tailored and scalable software and complementary services to the insurance industry. Anodas is a wholly-owned subsidiary of Zylog Systems Limited, a NSE/BSE listed global provider of industry-specific software solutions and end-to-end IT services, including onshore, nearshore and offshore software development.Over the past decade, Anodas has continued to invest heavily in both talent and technology, empowering us to design and develop innovative and technically-advanced software to match the exact requirements of each individual client. Through leveraging a unique staffing model -- consisting of a local team of highly-experienced insurance professionals, working alongside a global team of talented software experts -- we are able to deliver tailored solutions and services to our clients, quickly and cost effectively.
- #4 Anodas’ suite of insurance solutions and services can help your organization address the concerns over any issues surrounding solvency II, insurance fraud and risk management. Our software has been developed to incorporate best of breed business practices, with integrated workflow analysis, regulatory and compliance requirements. Future market driven requirements can be incorporated, developed and deployed within our software applications with considerable ease,thus alleviating some of the issues surrounding solvency II and risk management. Comprehensive integration capabilities allow clients to leverage third party geographic, forensic intelligence, credit agency and rating agencies software, providing the client with early detection,investigation capabilities to combat insurance fraud, and company ratings/credit worthiness analysis for risk management.
- #5 Anodas offers a suite of tailored solutions for the insurance industry, backed and supported by a dedicated team of insurance professionals. Our solutions are available on a fully licensed basis, software-as-a-service basis or on a TPA services basis. With customers including AIG, Hiscox and Plum Underwriting, and first class industry knowledge and expertise, we can help insurance organizations of any size, in any country.For the purposes of this presentation, we will focus on Phoenix, an end-to-end, full customisable insurance software platform, designed to electronically manage all key processes and information related to underwriting, broking, claims, reinsurance, accounting and reporting.
- #6 Phoenix is suitable for Property & Casualty, General Insurance and large/complex Commercial business. It also supports multiple territories, languages and currencies. With access to circa 2,000 software and domain experts we are able to rapidly develop and deploy new product lines -- market tailored to a clients specific requirements.
- #7 Phoenix can be presented to the client via a web browser which is fully configurable to a clients specific requirements and/or multiple product lines.Here we have a fully web-enabled front end to the Phoenix Policy Administration System as presented by Plum Underwriting’s Broker Centre.A Broker has entered into the Phoenix application a new risk being a Mid Net Worth Home Elite Insurance Policy Product,with an Insured Name of Zylog Systems (Europe) Ltd. The application has allocated an underwriting reference of ELT0000982 and generated a Quote of £934.59
- #8 The Phoenix application automatically generates and sends to the Broker an email of the insured’s quote. The application has generated and attached to the email a Quote Letter and An Elite Product Quotation Statement of Fact Schedule as per the clients specific requirements.
- #9 Examples of the automatically generated Quote Letter and the Plum Elite Home Insurance Product Quotation Statement of Fact Schedule are shown. These documents can be fully configured and maintained by the client and produced to their own specific requirements.
- #10 The Phoenix, Back Office Policy Administration System allows the user specific access to the multiple modules within the system – Client, Quotation, Enquiry, Security, Claims, Reinsurance, Accounts, Reports, Diary. Help is available to the user at all levels and is fully configurable to a clients specific requirements.
- #11 By selecting Enquiry the user now has the ability to conduct an - Insured Search.For example by simply inserting the name and selecting search, the user will be presented with all the available Client Information for Zylog Systems (Europe) Ltd.Any information can be entered into the search facility on an individual or company basis, or both if necessary. In addition to this, a wildcard search facility has been incorporated into the application.
- #12 Having selected the Insured, the user can now view the policy details. The screens have been developed using a tabular structure in a simplified format which is fully configurable to a clients specific requirements. The user is presented with numerous tabs detailing information relating to the policy – General/General2, Declarations, Buildings, Contents, Accident, Legal, Commission, Valuables, Freezer & Cycles, Money and more.
- #13 The details available include Rates, Premium, Excesses, Adjustments, Commissions & Overrider’s etc. The user can view all past Activities or Action anything that may be outstanding on the policy providing he/she has the necessary authorization. All workflow procedures and processes are recorded in real time providing a full financial and audit trail during the entire lifecycle of the policy.
- #14 It is possible to view from the policy enquiry screen – all Renewal Information, Billing – Statements/Payments & Reconciliation, any related Claims data, General Ledger & Statistical data and Loss Ratio analysis. Claims data for example can be viewed and all activities displayed are set at user level for audit, regulatory and compliance requirements. The data can be accepted by the system via manual entry or received via an electronic message. The application is fully configurable and allows for example - multiple reserve capture fields including Fees and IBNR.
- #15 The application allows authorized personnel access to the Administration System. Here a client/user can configure the entire application by entering directly into the system or via a template all client specific data – products, rates, brokers, postcodes, currencies, contacts, clauses, reinsurance portfolio’s, diary tasks, printing and reporting preferences to name but a few.
- #16 The Reinsurance Module within the application can accommodate complex Facultative and Facultative Obligatory Reinsurance portfolios. Whether entering a single treaty or a comprehensive reinsurance plan/portfolio, manually or via a system template, the application can record all required functionality at reinsurer level. The application will automatically identify and attach a reinsurance treaty/plan to a policy upon any quote being issued, providing all relevant business conditions, rules have been met and subsequently authorized by the application. All reinsurance premium/claims entries are automatically generated by the application and statistical/general ledger entries raised in accordance with clients requirements.
- #17 The application automatically generates Broker/Client Statements and can send them via email or via post. These can be produced on an adhoc, monthly basis or as per the client specific requirements. The user when viewing a statement can query any item by double clicking on the entry presenting a more detailed view of the premium/claim etc or providing the user the ability to create a statement based on just the Broker Ledger items displayed. Broker/Client Statements are fully configurable and tailored to the clients specific requirements.
- #18 The powerful management information/reporting module within the Phoenix application (Informer) can be configured to provide an infinite number of report types, providing your business with meaningful management information in real time. Reports can be generated in Microsoft Excel or in their native format. All management information, reporting can be automatically generated and shared immediately with colleagues, brokers, clients etc on an adhoc, monthly basis or as per a clients specific requirements.
- #19 An example of an Aged Debt Analysis Report which has been automatically generated by Phoenix, and presented the output in Microsoft Excel spreadsheet. This type of report can be setup to run via the Diary System on an adhoc, monthly basis or as per a clients specific requirements. These reports can be dispatched immediately and automatically directed to an individual or group of colleagues, brokers or clients via email or via post.
- #20 Third Party Administration, represents a complementary offering, which leverages Anodas’ insurance software platforms to offer high-quality, flexible and cost-effective support services to insurance companies. TPA is suitable for insurance companies who are looking to focus on their core competencies, through re-assigning in-house staff and strategically sourcing cost-effective support services.Utilising the Phoenix integrated software platform in conjunction with ClaimsPoint -- ourrobust and flexible software suite for claims professionals -- Anodas are able to offer Policy Processing, Claims Administration and Management Facilities to Clients. The available services encompass the complete Policy Administration Cycle, with Products and Documents tailored and branded to Individual Client Specifications.These services can bepaid for on a Monthly Lease Basis, a cost effective option, ideal for Small to Medium sized Intermediaries, Run-Off’s, and as a Launching Platform for Insurance Companies to bring New Lines of Business or Schemes to the Market, without the costs and delays of a new Implementation or Replacement of a Legacy System.