Diasoft, the leading provider of modern software solutions for the global financial industry, announced expansion of functional capabilities of its Diasoft Sensor solution. The product, which is designed to monitor performance of the Diasoft FA# and FLEXTERA systems, is now available as a mobile application.
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FLEXTERA Insurance is an innovative front-to-back STP solution catering for every aspect of the Insurance Business.
The functional scope of FLEXTERA Insurance covers all major business needs of the companies specializing in General Insurance, Life Insurance, and Re-Insurance.
FLEXTERA solutions provide Insurance companies with the most advanced mechanisms ensuring high-level support of:
- Sales of insurance products and client support,
- Insurance product management ,
- Policy administration,
- Claims and loss handling.
The range of insurance products supported by FLEXTERA Insurance covers the broadest range of business and personal life and non-life insurance offerings which include all types of
- Motor Insurance,
- Property & Casualty Insurance,
- Liability Insurance,
- Cargo Insurance,
- Accident Insurance,
- Travel Insurance,
- Health Insurance,
- Life Insurance.
The solution is built on JavaEE technology in full compliance with SOA principles and was developed in tight collaboration with IBM — a globally acknowledged SOA industry leader. Due to its component-based SOA-architecture and business process-based approach to automation, the solution can be tailored to fit any individual business and technological requirements of the most dynamic Insurance companies. The solution provides the highest flexibility and performance, supports all available hardware, OS, and DBMS solutions, and delivers to its Customer unrestricted business opportunities through its broad functional range and flexible product configuration and integration tools. It allows the insurance company to adopt different business models and sales channels supporting re-insurance, co-insurance and bancassurance operations and all types of customer servicing channels.
The functional scope of FLEXTERA Insurance is divided in accordance with the logical nature of the financial operations and covers all areas of the modern financial business with the following set of basic solutions:
- FLEXTERA Insurance Front Office — The solution is responsible for Multi-channel Front Office operations and customer relations management for ubiquitous client servicing and efficient management of a distribution chain. The solution allows streamlining the company operations through the support of Direct Insurance business allowing Insurers to sell prepackaged insurance products through the customizable client self-service portals.
- FLEXTERA Insurance Middle Office — The solution offers a set of components for Middle Office risk management, fraud monitoring and decision making functions.
- FLEXTERA Insurance Back Office — The solution provides tools for Core Back Office operations including daily transactions processing; product origination and management; policy management; and unique tools for monitoring product performance.
- FLEXTERA Insurance Accounting — The solution offers modern tools for Tax accounting and General Ledger support. Logical separation of product accounting and financial accounting allows FLEXTERA Customers to flexibly adjust to the changing regulations and to easily expand their business to new geographies.
- FLEXTERA Insurance BI — The solution delivers a set of comprehensive BI and reporting tools for managerial and financial reporting, with the unified access to all analytical instruments via a single window.
In addition to broad financial functionality, all Diasoft solutions bring to their Customers the enhanced value of modern integration and development tools due to FLEXTERA JavaEE Platform used as a basis for other functional components of FLEXTERA Insurance suite.
Every function within the solution is performed by separate components which allows the Customer to use them as universal building blocks of their financial architecture, easily deploy or replace new modules and avoid undesirable interdependencies of separate functions and slowing down of the system’s operation. These components together with the infrastructural tools form FLEXTERA Financial Architecture.
The advanced integration and client management tools of FLEXTERA Insurance ensure higher transparency of services and support a Customer-centric approach to the business operations, which provides higher quality of customer servicing, streamlined customer communication, better cross selling opportunities and clear identification of risks and opportunities.
FLEXTERA Insurance offers to its Customers the most advanced tools facilitating business consolidation and partnering strategies. These tools open to our Customers new revenue generation channels through more efficient collaboration of banks, Insurance companies and service providers, including the support for such models of business collaboration as Re-insurance, Co-insurance, or Bancassurance.
To support the universal move toward globalization, universal servicing and consolidation, FLEXTERA Insurance provides opportunities for business interoperability, integrated data delivery from different sources, and strong risk management, CRM and product design capacity.