INSURANCE COVERAGE'S SUPPORTED


Individual Term Life

Individual Life Unit Link

Individual Stand Alone Policy

GLIMS enables the insurance company to handle the contract management of the Full Life Cycle of an Individual Life Policy, with all the supporting reports, as follows:

Quotation

Underwriting

Policy Stages – Quotation, Outstanding, Confirmed, Posted

Policy Issuing – Individual & In Bulk

Automatic Bills/Commission Generations

Automatic Generation of Accounting Entries

Direct Payment and Direct Debit Payments

Endorsements

Renewal – Manual & Automatic

Paid Up – Manual & automatic

Pre Anniversaries – Early Detection of Premium Increases Due to Ages, Covers & Extras Terminations, Maturities, …

Anniversaries – Manual & Automatic

Lapses – Manual & Automatic

Automatic Surrenders – Manual & Automatic

Maturities

Not Taken

Standard Reinstatement and Reinstatement by Redating

Partial & Full Surrenders – Premium & Ad Hoc Units

Fund Switching

Policy Loan and Automatic Payment Loan


Dunning Daily Procedure :

Waiver of Premium Payments

Automatic Payments From Suspense

Issue Letters (Warning, Lapse, Payment Notification, APP, APL, …)

Automatic Lapse, Paid Up and Auto Surrenders

Policy Auto Extensions

APP - Automatic Premium Payments with units

APL – Automatic Payment by Loan


Nightly Batch Procedures:

Dunning/Regular Billing Procedure

Charging Procedure

Automatic Units Allocation

Pre-Anniversaries

Automatic Anniversaries

Daily Interest Calculation for Loans

Capitalizations