Property & Casualty Insurers, Managing General Agents, and Sureties
 

Our focus on the Property and Casualty Insurance Industry is reflected in our core software products. Our solutions, whether written for the IBM AS/400 or for our Three-Tiered Client/Server platform, employ modular yet well-integrated subsystems. These products can be configured to run your business. Along with pasCarrier, a full policy, claims, and accounting solution for carriers; integrated subsystems written for the unique needs of the Managing General Agent (pasMGA), Surety (pasSurety), and those with reinsurance processing needs (pasRe), ensure that our solution is your solution. pasExecutive, our Data Warehousing solution, further ensures that data from your solution is transformed into knowledge.

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Policy Processing

The policy processing subsystem automates all policy related transactions, beginning with initial collection of information, and continuing through the life of the policy. This subsystem is integrated with the claims, accounting, reinsurance, and statistical and management reporting subsystems. The user can view claim and accounting information from the policy subsystem with a single keystroke.

  • Transactions: New Business, Renewals (Manual and Automatic), Endorsements, Cancellations, Reinstatements, Non-Renewals, Audits, and Inquiries.
  • Cancellation, Reinstatement, and Non-Renewal Notices: Printing of notice(s) with legal number of days and appropriate text controlled through support tables.

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Claims Processing

The claims processing subsystem automates all claim-related transactions, beginning with initial claim registration and continuing through the life of the claim. The claims subsystem, is integrated with policy, accounting, and statistical and management reporting subsystems. The user can view policy and accounting information from the claims subsystem with a single keystroke.

  • Report-Only Claim: The user can record a claim, and flag it as report-only claim, which means that it is not counted in the claim counts.
  • Initial Claim Registration: The system can record a claim, and then provide online policy, unit, and coverage verification. Only authorized users can bypass the above verification process through password control.
  • Reserves: The user can establish Indemnity Loss Reserve, Medical Loss Reserve, Indemnity LAE Reserve, Salvage Reserve, Subrogation Reserve, Deductible Reserve, Other Recoveries Reserve.
  • Payments: The user can make payments and identify payments, in the same manner that reserves are established. In addition, payments can be broken out into more detail (partial, supplemental, etc.).
  • Recoveries: Maintenance and tracking of salvage, subrogation, deductible reimbursement, and also a general a category called "Other Recoveries."
  • Fast Track: The user can open and close a claim in one session.
  • Subsystems: Maintenance and tracking of salvage, subrogation, and lawsuits in separate subsystems associated with a claim feature. A claim can be closed and any of these subsystems can still be open.
  • Authority: Control of each users authority limits in terms of setting reserves and making payments through user maintained support tables.
  • Additional Claim Entities: Capture of unlimited entities related to the claims and feature level, such as witnesses, doctors, lawyers, etc.
  • Claimants/Features: Support of unlimited claimants and features per claim.
  • Catastrophe: Capture and maintaintenance of a catastrophe code at the feature level. Capability to assign a catastrophe code based on the date of loss, cause of loss, and state of loss.
  • Checks: Ability to print checks either in bulk, or one per payment.
  • Voids/Stop Payments: Ability to void a check prior to issuance. After the check issuance the user can either void or stop pay a check.
  • Check Reconciliation: Allows for both manual and automatic bank reconciliation.
  • Forms: Captures, maintains, and prints forms that are either automatically or manually assigned to the claim or feature level.

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Billing and Collection

The accounting subsystem automatically administers all functions of Agency Bill, Direct Bill, Broker Bill Business, and Payroll Deduction. It produces invoices and statements, and daily reports are produced to assist the user in balancing.

  • Agency Bill: Provides automatic generation of statements, aged trial balance reports, the ability to provide multiple pay plans, online realtime application of cash, and open item reconciliation. Allows the user to pay some, most, or all of a statement.
  • Direct Bill: Provides automatic calculation of equity date, automatic creation of invoices, user defined pay plans, automatic cancellation/reinstatement process for non-payment of premium. The assessment of late and reinstatement fees can be controlled through support tables. Online realtime application of cash, and open item reconciliation.
  • The system provides a unique subsystem that allows the user to manage the commission receivable/payable between the insurance company/MGA with the agent. Commission statements are produced, online realtime application of cash, and open item reconciliation is provided.
  • Accounts payable/receivable between the Insurance Company and the Managing General Agent: If the user is a Managing General Agent the system provides a unique and distinct subsystem to handle the accounts receivable/payable between the insurance company and the managing general agent. Statements are produced, on-line real time application of cash, and open item reconciliation is provided.
  • Checks: The system allows the user to print checks either in bulk, or one per payment.
  • Voids/Stop Payments: The user can void a check prior to issuance. After the check issuance the user can either void or stop pay a check.
  • Check Reconciliation: The system allows for both manual and automatic bank reconciliation.
  • Payroll Deduction: This capability allows the user to send a statement to one or more employer, receive checks from employers or payroll companies, allow for different payroll periods, view employee statements online, and pay some, most, or all of the statement.

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Reinsurance Processing

  • Ability to define treaties through support tables (including contracts, intermediaries, and participants). The limits of attachments and occurrence limits are defined at the treaty/annual statement line/sub-line level.
  • Ability to define reinsurance programs and methods of attachment through support tables.
  • Treaty level deductibles, catastrophe treaties, and treaty level aggregate limits are user defined and controlled.
  • Portfolio transfers and commutations are automatic.
  • IBNR(both loss and loss expense) assignments are entered at a treaty level, with the system exploding them to the intermediary/reinsurer level.
  • The system maintains and keeps track of letters of credit, cash in lieu, etc., at a treaty/intermediary/reinsurer level. A host of reports and inquiries are provided to assist the user in making decisions about draw-downs etc.
  • Deposit premiums with user-defined installments are provided. Reports are provided that show the difference between actual and deposit premiums, and that can enter adjustments
  • An online/realtime application of cash receipts/cash disbursements to facultative premiums, excess of loss premiums, facultative and excess of loss claims, quota share/surplus premium and claims is provided.
  • Generation of Premium and Loss Bordereaux.
  • Generation of statements to intermediaries and/or participants.
  • Generation of schedule F.

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General Features

  • Table Driven System: Through user defined tables, the user can maintain and control both the rules and regulations of the insurance industry, as well as many of the operational procedures of the company itself. This provides the user with maximum flexibility and eliminates redundant entry of information. These tables are updated and maintained through user-friendly screens and not through cumbersome database maintenance tools.
  • Notepad: The user can assign and print unlimited and permanent notes on the policy, claim, claim/feature, agent, and insurance entities level (adjuster, bank, etc.).
  • Diary: The user can establish and maintain diary notes. In certain cases (when a claim is initially established) the system automatically sets up a diary entry. The system can print and/or notify the user online when the diary reminder is due for action.
  • Multi-Company: The system provides support for multi-company processing and reporting. If the solution is for a Managing General Agent, the system provides for multi-company, multi-MGA processing and reporting.
  • Historical Data: The system maintains information at a very detailed level, which enables the user to extract and analyze a book of business in many different ways.
  • Online: The system is online and processes in realtime, providing up-to-the-minute information.

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    Management Reporting

    The system maintains premium and loss information at a very detailed level. This means that the system can produce reports or the user can generate custom reports using ad-hoc reporting tools such as:

    • Premium Registers
    • Loss Registers
    • Loss Counts
    • Loss Triangles
    • NAIC Reports
    • Rating Development Reports
    • Reports to assist the user in updating the GL system
    • Cash Receipts Registers
    • Deposit Slips
    • Check Registers
    • Reconciled Checks Report
    • Outstanding Checks Report

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    Statistical Reporting

    The system can collect all premium and loss information and report automatically to ISO and NAII. The statistical reporting mechanism is able to produce the tape and all attachments that are to be submitted to ISO/NAII on a quarterly and annual basis.

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    Data Warehousing

    With pasExecutive, the user can view information beginning with the company level, and drill down all the way to class code level. This can be accomplished through our robust and very flexible Drill Down view or by using third party tools such as
    Oracle Discoverer and Coronado.

    Retrieve and view information at the company level using any of these tools, and then tell the system to drill down and to see a breakdown of products within a company. From there, view the breakdown of marketing programs within the company/product, and then, the breakdown of coverage within the company/product/program, etc. The user-driven views are unlimited, based on user needs.

    Capabilities:

    • A data dictionary for all lines of business is available on-line. Define your own data types and field definitions in real time.
    • Define user-friendly screens, Summary Tables, and Cubes to facilitate quick reporting and easy data retrieval.
    • Define import frequency down to hourly intervals.
    • Define definitions, translations, and conversions for both premium and losses through our BNF TREES and through our user-friendly English-based import language.
    • pasExecutive includes ISO reporting for all lines of business and all products and handles all ISO plans...full, intermediary, and minimum.
    • pasExecutive includes NCCI reporting for all NCCI and independent states. WCSTAT, WCPOLS and WCDCI, ICR, and correction facilities are processed in a user-friendly environment.
    • Export to General Ledger packages, with user-defined chart of accounts. Mapping of the chart of accounts to various insurance transactions is also user-defined.
    • Management and user-defined reports enable the user community and management team to obtain results and information about the various books of business quickly and efficiently.

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    The pasCarrier system is a complete front-end, back-end policy management system. It provides a comprehensive solution to insurance companies that write Property & Casualty and/or Workers Compensation programs.

    Capabilities:

    • Rate and issue
    • Bill and collect directly from the insured or from agents
    • Adjudicate claims
    • Manage your assumed and ceded reinsurance book of business
    • report to ISO/NAII/NCCI
    • Receive a host of management reports and inquiries

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    The pasMGA system is a complete front-end, back-end policy management system. It provides a comprehensive solution to Managing General Agents that write Property & Casualty and/or Workers Compensation programs.

    Capabilities:

    • Rate and issue
    • Bill and collect directly from the insured or from agents
    • Adjudicate claims
    • Manage your assumed and ceded reinsurance book of business
    • report to ISO/NAII/NCCI
    • Receive a host of management reports and inquiries

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    The pasRe system is a complete solution for Insurance Companies and Managing General Agents that deal with ceded and or assumed reinsurance. pasRe will manage your book all the way to Schedule F.

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    The pasSurety system is a complete solution for Insurance Companies and Managing General Agents that issue surety bonds.

    Capabilities:
    • Rate and issue bonds
    • Powers of attorney
    • Adjudicate claims
    • Billing and collection
    • Cede or assume reinsurance

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