Compliance

Every manager instantly recognises that feeling : The uncertainty of not being sure whether the company's organisation is firmly enough in the saddle. Because if you are not aware that mistakes are being made, you are the first to be called to account.

Bearing ultimate responsibility is no mean feat
The larger the company, the greater the fear of its management that mistakes will lead to charges or fines imposed by regulators. A disappointed supervisory board or dissatisfied shareholders are the last thing you want.

"Do all employees pay enough attention to the reinsurers, who also have nuts to sing?" etc. etc.

An old saying goes : "I wish you a big business....... with lots of staff !

Manuals and many, many experienced lawyers, underwriters, product developers and IT suppliers indispensable if you want to keep things under control. And then you need a range of well-trained claims handlers, who can handle covered claims based on yet other protocols.
"Prevention is better than cure.".... is certainly relevant here.

The solution to these issues is usually sought through manuals, courses and protocols.
But always there is still that doubt whether mistakes are not made structurally.

FOOTANGLES AND TRAPS
Foot-and-mouths don't work in practice, because a mistake is easily made.
Innovation & Creativity
Footangles and clamps also kill creativity and innovative thinking.
Robotisation mostly does not work either because the human touch is usually lost in the process.

Policies, limits, protocols can, where possible, become a structural part of the systematics applied by in-house staff and external advisers during both the conclusion and maintenance of insurance contracts and during claims handling.

12 X COMPLIANCE IN A ROW
Team RealXS offers you at least 12 assurances for organising your Compliance:

1) Insurer Framework
During the installation of a Framework, the insurer provides it with the required protocols insurance techniques, tariff modules, insurable interests and for each interest the limits / Limit tables.
* Hardcopy basic settings insurer
If required, a hardcopy of this can be made for verification, recording and archiving.

2) Insurance products
On the basis of a framework registration, employees of the insurer, but also underwriters (coverholders) develop products. Therefore, you will find a tile aimed at the adequate registration of your insurance products.
More information on how to register an insurance product can be found on this page : LINK
* Authorised representatives
The products of authorised representatives remain at all times within the preconditions of the Framework first established by the insurer.
* Hardcopy product settings
If so desired, a hardcopy of these can be printed for the insurer so that there can be no misunderstanding as to how the proxy has set up his product.

3) Real-Text
You then set up a textbook for each product. This textbook is the basis for every policy that can ever be issued for that product.

4) Quality Scan
The insurer or its agent can provide an insurance product with a Quality Scan. Advisers in particular can provide optimal advice if a Quality Scan is available. Advisers can contribute to the Quality Scan of products.

5) Application
Based on the product registration, clients can submit insurance applications. The composition of the questionnaire also takes place in the RealXS Backoffice. The questions are then presented via an API on any website on which the product is offered.

6) IPID
Customers then receive an Insurance Product Information Document customised on basis of the data used for the quotation.

7) Robot acceptance
If the application falls within the scope of the robot underwriting guidelines, the applicant immediately receives an offer.

8) Visual acceptance
If the application falls outside the framework of robot acceptance, the application is submitted to an authorised acceptor.

9) Quotation
Once acceptance has taken place, an insurance proposal follows in the form of a detailed quotation and premium calculation.

10) Basis = application
The quotation contains not only all the clauses declared relevant by the insurer, but also the information provided by the applicant:
the basis of the contract. This also gives the client and his adviser the opportunity to check again whether the basis of the contract is fully and correctly formulated.

11) Policy
* Standard
If robot acceptance has taken place, the policy can be automatically formatted based on the coordinates your staff have set for the product.
* Customisation
If an application has nevertheless been accepted by your employees or proxies, the policy will be prepared in accordance with their further instructions.

12)Integrated "Accounting"
RealXS' Insurance software is fully integrated with the Financial package.
The advantage is that management has the certainty that all booked premiums and claims per financial year can be found in its own general ledger and in the sub-administrations as set up by you.