Central storage

All products and variations in one central system.... Is that possible?
In the insurance market, there is a wide variety of products.

An insurance product may relate to a specific object such as a building or a load of goods.

PREMIECOMPONENTS
But there are also many products that allow the insured to insure a range of perils. As is the case with car insurance that covers damage to

• the object (the car),

• the Civil Liability,

• legal expenses,

• the occupants and

• sometimes also the goods transported with it or liability therefor.
  At realXS we call this : PREMIECOMPONENTS.

Total up the premium of all premium components and you know what premium is due from the client.

All those components of an insurance package are subject to

• specific underwriting guidelines,

• tariff modules,

• limitations,

• limitations,

  li>

  indexations,

• bonus-malus rules,

• taxes,

• rewards,

• cost allocations
  etc.

  
  PREMIUM ELEMENTS
  We include not only the gross premium charged under the relevant tariff module.
  But it also includes any discount or Bonus/malus in force since the most recent renewal, as well as surcharges, charges and taxes payable for this part of the cover.
  
  TRANSPARANT
  All these things must therefore be able to be set up properly and insightfully/transparently for each premium component.  This is partly necessary to enable management to be adequately informed about the state of affairs of a portfolio or component thereof.

PRODUCTMANAGEMENT
Software from RealXS allows underwriters and product developers to develop insurance products themselves. So without the intervention of programmers.
Those who know about insurance can therefore put together a product and then install it themselves on the realXS platform.

CONTROL BEFORE
Of course, someone who has come up with an insurance product first makes a thorough description of it. Of course, the terms and conditions are also important, but in principle, these are not relevant for installing an insurance product.

Who can type, can install a product
After the product is fully described and approved, the developer can start working with RealXS' software. Who can type, can install a product!

In fact, for each product and premium component, you tell RealXS everything relevant to

• assessing an application,

• the underwriting policy,

• the relevant discounts or surcharges,

• the method of quotingp>the method of quotation after acceptance,

• the fixed texts that must always be printed

• thethe variable texts required for policy formatting

• the optional clauses

• etc etc.

Digital version
When the job is done, print a report showing for each premium component what facets are at issue for healthy portfolio construction: the digital version is ready for clients.

LOEPZUIVER
If this report is optimally comparable with the original design, testing of the digital version can begin. Naturally, the developer himself knows best at what points he could fool the software.
Where he succeeds, he should add further instructions to the system.
Only when complete certainty exists about the flawless installation of the insurance product, should the test version be made available to customers.

AKTIVE
From the moment a product is activated, it can be offered on websites of the provider/insurer itself, but also, if desired, on the websites of intermediaries who may or may not be affiliated to the computer centre that can centrally arrange the administrative processing.