Solution for all line of Business
Property, Casualty and Health Insurance, Personal and Commercial.
SISme. It is a solution for the Insurance market developed with the experience of more than 42 years serving the Insurance and Technology industry.
Integrated Solutions
Client Manager
Producer Manager
Policy Manager
Reinsurance Manager
Collection Manager
Claims Manager
Financial Modules
Statistical Modules
Each module includes easy to use embedded reports that provides a quick look at your data so you can make quicker, better informed decisions.
Reducing handling time per transaction and increasing user efficiency.
SISme is the result of years of programming and continuous improvement using the latest cutting edge technology to ensure our customers remain competitive in the ever changing landscape of the insurance industry.
Client, Group and Company Manager
Client and Company administration create and maintain information on clients, groups and insurance companies in the local and/or foreign market.
The codification for each client is one of the main characteristics of SISme, thus allowing it to be related to the entire database.
The concept of the group is used with the purpose of relating several clients (person or company), in such a way that they can have a common treatment within the SISme.
This grouping facilitates
- The profitability analysis of a group.
- The printing of the account statements of the clients of a group.
- The identification of the people or companies related to a client, allowing a quick evaluation of the incidence of a decision made with the client.
Producer Manager
In this module, the information of the intermediaries in the sale of insurance is created and maintained.
Among the most important information provided to the SISme are the type of intermediary (local agent, broker, etc.), and the commission that has been agreed to be paid in each branch, serving these parameters for the assignment of commissions at the time of working a new policy or make changes to an existing one.
Broker commission account statements are prepared automatically, based on the information handled by the accounts receivable subsystem.
Production reports and accounts collected by agents and brokers are tools provided to sales management for comparison and evaluation with their budgets and plans.
Also comparative reports of sales by agents / brokers and summaries by lines of business of the portfolios are prepared by the SISme.
Through this module, the data of the local agencies of the company are managed. Each one of the intermediaries identified as local agents are related to an agency, thus allowing the automatic preparation of production statistics by agency and the payment of commissions to their supervisors, based on the agents’ sales.
The SISme allows you to query Producers’ portfolio on the screen, detailing in a first level the general information of their policies and allowing the selection of one of them in particular to query its data in detail (the risks covered, claims incurred, account statements , etc.).
Policy Manager
It is the most important subsystem, with the largest number of options and where most of the documents issued by SISme are produced.
It is the most important subsystem, with the largest number of options and where most of the documents issued by SISme are produced.
All the work of issuing new policies, the maintenance of existing ones and the control of renewals and cancellations is done through this module.
The SISme performs automatic calculations of the annual premium, premium to be invoiced and taxes, reducing manual labor in such a way that only the risks to be insured, the coverage, and the insured values are entered.
For the calculation of the premium to be billed/credited in the case of policies for a period other than one year, the SISme is provided with the two most commonly used forms of calculation, pro rata and short term.
This module keeps the history of the policies updated since their issuance, continuous changes and their renewals, in such a way that the status of a policy can be viewed at any date since its issuance.
The documents issued in this module are the following
- Policy Condition (Dec Page)
- Endorsements
- Certification
- Invoices and Credits
Reinsurance Manager
The Reinsurance distribution of a document is calculated automatically based on predefined guidelines and parameters that normally vary depending on the Line of Business.
Every time new Reinsurance contracts are signed, they are registered in SISme.
In such a way that based on the effective date of the issued documents, SISme searches for the corresponding reinsurance contract and calculate both, the company’s retention and the distribution of the contractual reinsurance, taking into account the cases of insured sums that exceed the contracts and showing the proportion have to be allocated to a Facultative Reinsurer.
Before the printing of any Document, the system verify that the reinsurance distribution match to a 100%. Meaning that the allocation of the Facultative Reinsurance has been register in SISme properly. The system doesn’t allow to issue any document before this request has been accomplished.
Prior to calculating the distribution of reinsurance, the system verifies if this policy forms a cluster with any other (s) already existing (s), to make its distribution based on the insured sum of the cluster. In this case, SISme makes a redistribution, only if it is required, of the reinsurance of each one of the policies that are parts of the cluster.
Facultative Reinsurance Offers are issued automatically by the system after working a policy that has been placed with this type of reinsurance. This offer contains all the data of the original risk as well as the proportion that must be consigned in the acceptance of the reinsurer.
This module produces several control reports as well as accounting reports that are normally used for accounting and preparation of Reinsurers’ accounts.
This preparation of accounts is done automatically in the module intended for these purposes, after implementing the claims administration subsystem that is the other party or accounting in addition to the production of premiums.
Collection Manager
Different ways to apply the payments complete the Account Receivable module.
Cash balance reports and query of the receipts issued in one day, are options provided by the SISme, which allow the day’s income to be viewed at any time.
The statement of Account can be query with the aging by line of business, Producer, Policy, etc.
A module for the administration and control of the Collection facilitates case-by-case monitoring of the status of each payment agreement made with the Client.
Claim Manager
This module manages the losses reported for the occurrence of claims covered by policies of any line of business.
The administration of a claim in SISme, includes from its opening, the registration of the reserves, as well as the issuance of payment checks and registration of salvages and recoveries that are charged to it.
For the opening, SISme verifies if the policy was valid at the time of the accident. This case presents the units covered (buildings, automobiles, etc.), as well as the risks and amounts insured for each coverage, allowing the creation of the estimated reserve for coverage, which are taken as a check basis at the time of payment to the claimant(s).
Both, the claim data and the estimated reserves can be changed at any time, automatically altering the condition of the claim, as well as the pending claims reports used for booking the reserves.
Checks are issued automatically, affecting the outstanding reserves.
In case the policy has a lien holder or mortgagee, the system offer the possibility of making payments directly to the mortgagee company, indicated at the time of issuance of the policy. Letters are automatically produced both facultative reinsurers and co-insurers indicating in what proportion they will be affected by the loss.
At the time of opening the claim, when the reserve is set, a first type of reserve creation letter is produced and at the time of payment, another is produced with notice of recovery to both facultative reinsurers and co-insurers in the event of that the company has made the full payment and not only for the proportion in which it participates in the coinsurance, as occurs in some cases.
The SISme identifies the cases of clients who have a debt with the company at the time of payment of a claim, with the purpose of informing the Collections Department. Claims control report, as well as reports for accounting for reservations and payments made, are generated by SISme.
The accounting reports include the distribution of coinsurance and reinsurance, being support for the preparation of the accounts of the coinsurance and reinsurance companies.
Financial Modules
- General Accounting
- Bank Reconciliation
- Reports / Financial Statements
- Control and Issuance of Checks
General Accounting
This system receives summaries of the operations originated in the previous modules, through automatic journal entries.
The structure of the chart of accounts allows the establishment of dependence and levels of accounts, subaccounts and auxiliaries, so that when registering the journal entries only the auxiliary accounts are detailed and the computer is in charge of affecting all the controls on which they depend. these auxiliaries.
The system presents the flexibility of being able to define the fiscal year, in such a way that it does not necessarily have to coincide with the calendar year. In the same way, it allows working with more than one year simultaneously.
Operations that are repeated month after month can be defined in the system as fixed or recurring entries and affect the general accounting every month without prior typing of the information that compose it.
Bank reconciliation
Through this application, the computer reconciles the account statement sent by the bank against the information recorded in the general accounting, and against movements in transit.
Reports / Financial Statements
Financial statements and reports can be prepared at any time, based on the information contained in the general ledger and the definitions made by the user.
These definitions consist of the way of grouping the accounts and the calculations between them. Thus, the user can predefine their states or reports without the need to resort to programming work.
Control and Issuance of Checks
A sophisticated check control and issuance system facilitates their preparation and their accounting coding, allowing the user to predefine the different types of requests and their accounting distribution, thus the manual task of coding the accounts and subsequent entry in the books are replaced by the entries made by this system to the general accounting system.
Statistical Module
Once the previous modules have been installed, there is a complete database for the preparation of the statistical module.
This module consists of a series of reports, graphs and screens with information that reflect the status of all areas of the insurance company: the company, the reinsurers and the entire business.
Loss Ratio reports are prepared by different parameters such of Line of Business, Producer, zone, etc.
Reports that serve as a basis for the evaluation of Reinsurance contracts such as Catastrophic Accumulation by Zone and Portfolio Profiles are also generated in this module.
Request a Demo
Complete the following form to request an appointment and offer you a tour in our system.
