Sh@rpAsig

SharpAsig is a flexible state-of-the-art software solution that provides full coverage of all aspects of insurance business area.
SharpAsig contains all necessary modules of an insurer - from underwriting to reinsurance.
SharpAsig is the result of 10 years of development and continuous improvement by a team of highly qualified experts in IT, insurance, accounting, and actuarial areas.
More than 9 successful implementations in Romania, Slovakia, Hungary have contributed to the extended functionality, the strength, the reliability, and the power of the system. More than 15 million policies issued. More than 500 insurance products implemented. More than 150.000 users. More than 160.000 policies same day. More than 150 million euro gross premiums in 2016.
Flexible software and services that allow you to administer your business, your way, as an industry leader.
Functionality all the functionality you need in a single, easy-to-use platform that gives you an advantage over the competition.
Technology leverages the latest in cloud-based, smart-client technology to offer you the competitive edge you need.




Advantages
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Easy to use Interface

Search and manage your clients, policies, objects and payments. Sales workflow (proposal, acceptance, policy, payment) is made very easy for client and for salesperson.
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Easy customisation

Getting started is quick and easy – the way it should be. This means that another company can use the core functionality of the insurer's website, but have their own company’s identity on the site (logo, styling, colour scheme, and contact details). No need to worry about development time.
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Complete Solutions

SharpAsig is a complete solution: Non-Life, Life and Health, individual and group products, commercial, personal and health products.
The main modules: Underwriting, Finance, Collections, Debt Management, Legal, Claims Settlement , Policy Management, Reinsurance, Agents & Commission, BI, Personal Data Administration.
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Reduced Risk & Cost

Is one of the most cost efficient insurance systems on the market. Each module can be implemented separately allowing the projects to go live in small incremental steps reducing the implementation risk significantly.
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Rapid Deployments

Flexibility allows the system to becomes available for review, testing, and user training at very early stages of implementation. A new product with an average complexity can be configured and available to the market in about one week.




Finance Management

Reporting Management
Reporting Management features allow you to track, cross-sell and up-sell for more efficient customer retention and servicing. You can monitor your sales, easily manage insurer reports and commission. Sh@rpAsig has reports prepared for the FSA in several countries and can add yours too.

Debt Management
Debt Management helps you manage overdue invoices by sending automatic reminders to clients. Debt management is customisable according to insurer rules.

Accounting
Receiving payments and supervising all monetary transactions can be organised easily. Insurer premium mapping and payment management. Integration with bank statements. Automatic reconciliation of revenues.

Billing Management
Automatic invoicing and e-mailing. Complex invoice creation with multiple insurance products on one invoice. Automatic payment mapping with invoices Integration with bank statements.

Brokers Commissions
Automatic generate brokers/agents commisions (after closing of accounts).



Cross - Selling

General approach
The main sections of issuing and managing policies has cross-selling features. The it sistem allows cross-selling packages configuration in the level of each insurance product, but also at the level of each user and each category of costumers.

There are cross-selling facilities for the following product categories: auto, property, civil liability, malpraxis and travel.

Cross - selling RCA
The application may propose packages of products that will be added to the main product. These packages can be preseted by the application administrator and can be modified by the sale agent.
In the ilustration you will find an cross-selling example for RCA to wich is linked to domestics accidents , health policy and a CASCO policy.

Cross - selling property
The application may propose packages of products that will be added to the main product. These packages can be preseted by the application administrator and can be modified by the sale agent.

Cross - selling travel
The application may propose packages of products that will be added to the main product. These packages can be preseted by the application administrator and can be modified by the sale agent

In the next picture can be seen how the system make discounts for cross sell products.

View policies
Computer system identify package issued policies and notify the user. This facility is usefull, particulary for policies renewal, but also for their maturity rates.




Issuing policies from import files

General Presentation
This facility is usefull for immediate issuing of a big number of policies. This facility can be configured for each level of insurance product..

It is based on reading information from import files, validation and processing them, and finally issuing insurance policies. Files can have different formats ( xml, xls, xlsx, csv, txt, etc. ). At the end of the issuing process we will have as many policies as available lines we have in the import file. Also the system returns file lines with validation errors.


Definition of file format
This section allows file format definition for each of insurance product from the IT system. This section is used by the system administrator.It is a mapping between columns of the template file and all the necessary information in order to issue the policy.
You can define as many templates you want for a type of product.

Upload file ( park file )
This section is accessed by any user who has rights to issue for a certain product.
The user selects the template he wants, according to the file he wants to upload in the system.

If there are no more different templates for that product, the system picks the default template. The system validates the file and announce the user regarding correction errors, and after that, the file will be upload into the system.

Issue policies
After undergoing all validations, the application makes a preliminary calculation – to generate global offer containing the final and detailed price.
If everything is ok, the policies are issued. Each policy will contain all the information as it was individual issued. The system notifies the user when a policy part of a park.



Claim management

Define workflow
Claim files management model configurator, at product’s level. System administrator configures the information flow and the conditions of transition from one state to another.

Close/Open claim file
Users, depending on permissions, can open folders, initial reserve, additional reserve, claim payments, IBNR reserve, send files through circuit.

Search folders
Users, depending on permissions, can search and view files. The user only sees its current/passed files.

Making payments
Payments are approved in accordance with the flow of each file. Payments are made automatically - using integration with banking systems. After making payments - expects confirmation from the bank. Bank confirmations are automatically load. Interaction with the bank is using xls files.



Process Management

Renewal management
Renewal Management Feature automatic reminders on our dashboard help you to start the renewal process on time, making sure that all policies will be renewed and all instolments will be collected.

Document management
We keep all policies, objects related documents (receipts, insurance conditions, risk inspection) online, so you can access them at any time.

Notifications & Alerts
Application generates notifications and alerts for each category of users (administrators, agents, brokers, inspectors, directors) for each module (underwriting, legal, claims, accounting, collections, reinsurance,regress)



Workflow Builder

General Presentation
Workflow Builder - it is a useful tool for defining business flows and the conditions of transition from one state to another.

Workflow Builder - is used to define flows of claims module, flows of legal module, flows of internal approvals module, flows of cancellation policies, flows to issue special policies.

When you configure insurance products can define the limits.
Example - brokers can issue the maximum amount of insurance policies 200.000 Euro. Above this value the consent of the branch director, which has jurisdiction up to 500.000 Euro. Above this value the consent of the regional director, which has jurisdiction up to 1000.000 Euro. Above this value the consent of the national director, which has jurisdiction up to 1500.000 Euro.

When there is a policy of this kind, the application notifies the user that has the necessary competence to decide.

Flows saved
Once you have defined all states - save stream. For each step of the flow to be configured at least one user role.


Workflow - issuing policies
The illustration - application notifies the user that there are 146 policies requiring its approval for issue, 26 policies proposed for cancellation, 5 payments proposed for cancellation, 2407 policies have not risk assessment and 6 policies locked on suspicion of terrorism.

These notifications are generated due to flows configuration.




Management of agencies

General Presentation
The software application - manage all the insurer’s agencies. The application allows editing/ adding an agency.

The system – pyramidal managing agencies – starting from central administration, then, areas, disctrics, branches and agencies.

Considering that the application features an agencies configurator – It ca be done all necessary settings required by an insurance company.



List of agencies
In the above image – the system displays all agencies. These can be filtered by name.
For any agency, it can be downloaded o list of accounts that are assigned to that certain agency.




Management of account&users

Accounts and users
In the system there 2 types of distinct notions:
- Accounts
- Users

In order to access the application at the 1st stage we have to define an account. An account contains one or more users.
An account is allocated to an agency.
In order to create a new user account we select from the menu – as in the above image.


Save user account
In order to create a new user account we access dedicated interface from previous image.
Fill all the necessary informations – after that click on the buton “Creaza cont”.


Configure accounts
In order to configure an account – it must be selected from the list of available accounts.
Select one of the configure options like the above image:
- Setting up grill fees; grill fees contains commission percentage level of an insurance product;
- Creating new user;
- List of account users
- Activation/ Deactivation users; a deactivated user cannot access the portal;
- The right of issuing by locations;
- Setting up of the gross subscribed settlement from clients;
- Modification of the account type ( from agent to broker, from inspector to broker, etc. )


Permissions
The product allows configuring permissions, and configuring permissions on certain roles - as in the image above.

Permissions are set at the user level, not account level.
For example an account can contain two users: - one to have certain permissions, - another user another set of permissions.






Document management

General presentation
The software application manage all types of documents, regardless of the module.

Considering that the application benefits from a flows configurator – meaning dynamic configuration and passing from a state to another – the application can also manage documents belonging of these flows.

All software application modules - contain relevant documents.

The application also benefits of relevant reports and alarms, to highlight the lack of some important documents.

Underwriting module
For the Underwriting module - we have the following types of relevant documents: policies, receipts, deals, insurance conditions, risk inspections, repertoires, payment order, various custumers statements etc.
Depending on the insurance product - the application needs custumer statements, but also risk inspection.
There are insurance claims that can not be turned into insurance policies without a specialist agreement from insurer head office.




How to confirm policies and receipts cancellation
The system allows insurance policies and receipts cancellation - if the configured workflow is respected.
Any demand for policy cancellation is requested by the customer. This request can be found in the system.

In the above images the system notifies users who have the right to cancel, the fact that there are policies and receipts cancellation requests.




Claim module
For claim module - we have the following types of relevant documents: finding/ refinding notes, statements of people involved, evaluation notes, bills of payments.



Payments module
For payments module – we have the following types of relevant documents: bank statements, brokers/agents invoices, invoices.

For collection module – we have the following types of relevant documents: bank statements, depositing repertoires for brokers and agents, compensation minutes.






Creating new reports

Creating new reports
Creating new reports can be done by the system administrator.
Also, the system administrator can grant privileges of using the platform.
After creatin a report, the administrator asigns roles having access to vizualize that report.
Ony asingned users cand vizualize the new report.




Generated reports
The system – benefits from a reports generator – implemented from scratch by our specialists.
This reports generator – allows definition and configuration of any report.

Besides the reports generator, our specialists have also integreted SQL Server Reporting Services . Microsoft solution of Reporting is a powerfull instrument of creation, configuration si and rolling personalized reports.
In order to visualize a report – users have to recieve access rights.

Reports configurator is a modular solution that is easy to costumize in order to have a response beside specific requests from an insurance company.

It can be implemented any kind of reports for any users categories – whether we are talking about sales reports, management reports, operational reports or ASF reports.




Business Intelligence

General Presentation
Depending on customer needs, we have developed custom modules for BI - using dedicated platforms, such as Microsoft, Oracle or we have used integrated solutions, such as Qlik.

Business Intelligence are open, modular solutions that are easily customized to address the specific requirements of any insurance company.

Data Warehouse
Spanning the full spectrum of the data warehousing process it helps insurers to capture and consolidate data generated across the entire organization.

From raw data transformation to clear and accurate reporting – SharpAsig helps insurance professionals at all levels make better business decisions and increase profitability.

Real time Dash-Boards
Allows real-time monitoring of key information-your business. Available on any device.
Helps the insurance companies take the right decision anytime, anywhere, by having acces to all relevant dashboards.


Risk map Dash-Boards
Example of risk map or GPS coordinates exposures company by taking over the majority of insured objects from a source such as using the Google Maps API provided by that vendor.




Software Solution for Reinsurance

General presentation
SharpAsig has an reinsurance module. This module is configured by the portal administrator.

Our solutions for Reinsurers provide highly configurable and flexible capabilities across the full assumed reinsurance lifecycle from submission registration and quotes through to contract administration, claims management and retro cession calculations. They support all types of assumed treaty business including quota share, surplus, excess of loss and facultative treaties.

In the above image it is show how to access way the four menus of the module. RI contracts, Reinsurers, RI, RI calculations and RI results. Further, each of them are presented in detail.

Adding contracts
In this menu you can view, add or edit reinsurance contracts.
In order to add a reinsurance contract, you have to click on “Adding contracts” button, wich will redirect to adding page.
Then you can save the contract by clicking “Save” button, or you can cancel by clicking “Cancel” button.

Operations submenu
In this submenu we find all the operations that can be done to reinsurance contract:

 Contract data editing – “Editeaza Contract”
 Adding or deleting covered classes in the contract – “Clase Acoperite”
 Adding or deleting reinsurers for a certain contract – “Reasiguratori”
 Adding, editing or deleting layers of a contract – “Layere”
 Adding or deleting exclusions on a particular contract – “Excluderi”


RI calculation
In this menu you can do calculations on existing contracts. For this, it must be introduced a start date - Data start - and an end date - Data Stop - in order to filter contracts from contracts list – “Lista contract”.
“Lista Contract” values are reference values of database contracts.
If those data are not selected, it wil be shown all values, wich will run the calculation procedure for all contracts.




Integrations

Developer
Our API is an easy-to-integrate system which lets you add functionality to almost any web application.
We have developed a special module for integration with SAP.
All facilities are exposed on web services.
Example of integration with SAP and Charisma.
Import modules
Policy import - Our web service allows you to import policy data and documents from insurer systems.
Collections import- Our web service allows you to import collections data and documents from insurer systems.
Claims import- Our web service allows you to import claims data and documents from insurer systems.
Document import- We can easily read and save all the pre-defined data from scanned documents.
Partner assets management - You can administer insurance agreements of all your partner (i.e. bank or leasing company) assets.










Non-Life Insurance

Software Solution
The system provides full coverage of all insurance related activities – from underwriting, premium collection and commission calculation, through policy administration and claim processing as well as complete reinsurance coverage. A detailed and fully integrated insurance ledger produces full accounting transaction that can be output to external financial systems (ex: SAP). The system incorporates all necessary actuarial calculations and reporting facilities.
The main modules: Underwriting, Finance, Collections, Legal, Claims Settlement , Policy Management, Reinsurance, Agents & Commission, Personal Data Administration.
✓ Motor insurance
MTPL, Casco, Green card, Passengers Accident, Road Carrier Liability;

✓ Property & Commercial insurance
Home, Fire, Theft, Business interruption, Machinery break down, CAR/EAR, Cargo, Agriculture

✓ Financial insurance
Surety bonds, Leasing, Credits

✓ Accident and Assistance insurance
Personal accident, Travel, Medical expenses

✓ Liability insurance
General liability, Product liability, Professional liability, Employers Liability.









Life Insurance
Software Solution
Fully supports individual and group life products, unit-linked products. The system provides full coverage of all insurance related activities – from underwriting, premium collection and commission calculation, through policy administration and claim processing to the complete reinsurance coverage. A detailed and fully integrated insurance ledger produces full accounting transaction that can be output to external financial systems. The system incorporates all necessary actuarial calculations and reporting facilities.
✓ Endowment insurance
✓ Term insurance
✓ Personal accident insurance
✓ Whole life insurance
✓ Unit linked