All products in one central system. Is that possible?
But an insurance product can also relate to a specific object such as a building or a load of goods.
INSURANCE PACKAGES
Many products offer the insured a range of insured items.
As is the case with car insurance that covers damage to
The object (the car),
Civil liability,
Legal expenses,
The occupants and
Sometimes also the goods transported with it or liability therefor.
At Team RealXS, we call these : PREMIUM COMPONENTS.
Add up the premium of all premium components and you know what premium the client owes.
All those components of an insurance package are subject to
Specific underwriting guidelines,
Rate modules,
Limitations,
Indexations,
Bonus-malus rules,
Taxes,
Rewards,
Cost allocations
etc.
TRANSPARENT
All these things must therefore be set up properly and insightfully and transparently for each premium component. This is partly necessary to enable management to be adequately informed about the state of a portfolio or a component thereof.
PRODUCT MANAGEMENT
Real-Access Software offers underwriters and product developers the possibility to develop insurance products themselves. In other words, without the intervention of programmers.
Anyone who understands insurance can therefore compose a product and then install it themselves on the RealXS Backoffice.
PRE-CONTROL
Someone who has thought up an insurance product naturally first makes a thorough description of it. Of course, the terms and conditions are also important, but in principle they are not relevant for installing an insurance product.
Whoever can type, can install a product
After the product is fully described and approved, the developer gets to work with RealXS Software.
VIDEO Whoever can type, can install a product!
In fact, per product and per premium component, you tell everything relevant for:
Assessing an application,
The underwriting policy,
The relevant discounts or surcharges,
The method of quotation after underwriting,
The fixed texts that must always be printed
The variable texts required for policy formatting
The optional clauses
etc.
Digital version
Once the job is done, the Real-Access creates a report that shows the Product's facets for each premium component for a healthy portfolio construction: the digital version is ready to be tested.
FLAWLESS
Then the product has to be tested. Obviously, the developer himself knows best where he could fool the software.
If he manages to get Real-Access to do a false acceptance, he has to add further instructions to the product.
Only when there is complete certainty about the flawless installation of the insurance product can the test version be made available from the customers.
AKTIVE
From the moment a product is activated, it can be offered on provider/insurer websites.
Cooperation with intermediaries
Intermediaries who register with the Computing Centre can then be appointed by providers of insurance products to mediate in those products.
Free
As the licence fees are charged to the providers, intermediaries do not have to pay any fees, unless it concerns products they developed themselves and are underwritten under their logo.