eBaoTech Releases GeneralSystem Version 3.3
eBaoTech’s Product Center releases its GeneralSystem V3.3 in March 2010. The goal of this release was to enhance flexibility in workflow and clause management, as well as to enhance functionalities in channel management, in finance and in reinsurance.
Highlights of the enhancements in V3.3 include:
More comprehensive process support in Policy Administration:
- Enhanced new business workflows: The new workflows are able to support both high touch business and low touch business. Quotation processes and issuance processes are separated to better monitor operations efficiency.
- All quotation history can be well tracked and policyholders or agents can choose any quotation version to bind it and issue policies.
- Clauses can be configured differently at all levels: On product level, on insured object level on and cover type level. Auto attachment of clauses can be configured via compulsory/default flags or via eBaoTech’s Rule Management System (RMS).
- Enabled underwriters to manually trigger facultative reinsurance arrangements based on different situations in addition to automatically triggering of facultative reinsurance as predefined in the system.
Better Channel Support:
- AgentPortal is enhanced with the following functions to better support the sales activity of sales channels.
• Online printing for quotation form and policy schedule
• Online endorsement for POI
• Online renewal follow up
• Online account status query
• Message center
- Agent financial consolidation function is developed to make the premium and commission settlement for sales channels easier.
- Other small enhancements such as commission auto pending, commission query, GST on commission are also developed to better serve the sales channels.
New features in Finance & Reinsurance Modules:
- Complete process for electronic receipts, supporting pay modes such as ATM and Internet Banking.
- More granular authority control on finance transactions based on currency type, transaction type and pay mode.
- Support query of all financial records posted to the general ledger.
- Support broker business in the reinsurance process.