Bangladesh's First Fully integrated online Life Insurance ERP

Our Life Insurance ERP is a complete solution conisisting of 23 Modules with advanced and unique features.

Life Insurance ERP Solution

Life Insurance ERP Solution is a web based solution for Life Insurance Companies; contains 23 modules and provide automated sms and email services to employees, employers and customers. The investment module directly integrates with Dhaka Stock Exchange to collect real data real time. It has been designed extensively to cover all the aspects and activites for any Life Insurance Company, which can control their business for individual and any number of branches from anywhere in the world. It can also be customized to inherit similar business area or single or multiple modules.

The Online Payment System implemented for Sonali Life Insurance Company made it Bangladesh's first company to support online payments from its customers world wide. Now their website also supports not only policy and claim applications online, but also customer login as well.

Apart from many unique and innovative features it also consists of many reports which present the company's past and present business and financial status along with all future liabilities, such as, maturity payments.

   Special Features

   Designed as per Local Life Insurance Industry requirements & regulations

   Comprehensive, Customized, Integrated & Web based Solution

   One solution for entire Life Insurance Process and Company Operations

   Auto Updates for 5 Years

   Built-in Document Management

   Inherent Robust Rule-Engine

   End to End solution

   Fully automated at real time

   Free from nightly batch runs

   Fast, Robust & Secure

   Implementation in 12 months

   Unlimited Branches (No extra or hidden charge for an additional branches)

   Unlimited Users (No extra or hidden charge for any additional users)

   Complete Training on ERP provided

   ERP Solutions

   Fully Integrated, Real Time Upto 24 modules

   Manage & Maintain Total Business Operations

   Auto SMS & e-mail Notification from Each Required Points

   Auto Process Matured Policies on Time

   Auto Prepare IDRA year-end Documents in a Single Click

   Fully Integrated Company Website

   Online Policy Application

   Make Premium Payenents Online (New/Renewal)

   View Payment History & Receipts Online

   View Policy, personal and Nominee Details Online

   Apply for Policy Alteration Online

   AUTO SMS SERVICES (Local & International)

   After PR

   After FPR

   After Renewal

   Before Premium Due Dates

   After Alteration

   After approval of Matured Policies .(provided before the maturity due date)

   Birthday Wishes to policy holders

   Bulk SMS Service to Send SMS to All Policy Holders

   SMS Log

   SMS Status Monitoring System

    Integrated SMS Push & Pull Service

   Verify Agents

   Premium Amount, Next Premium Due Date & Maturity Date

   Nominee Name

   Policy Status

   Apply for Policy Alteration

   Bank Account Details to make payments

   BKash Number to make payments

   Mobile Banking Number to make payments

   Website / e-mail address

   Customer Care Number

Modules for Life Insurance ERP

  • Policy
  • Underwriting
  • Accounts
  • Human Resource - HR
  • Agency
  • Payments
  • Agent Commission
  • MIS
  • Policy Services
  • Utilities
  • Claim
  • Chat Room
  • Approval
  • Asset Management
  • Re-Insurance
  • Expenses
  • User Activity
  • Group Policy
  • Investments
  • Pay Roll & Attendance
  • Maturity Claim
  • Training
  • Access Control
  • POLICY

      Dynamically calculates policy premium details with applicant’s age (auto-calculated from date of birth) according to Actuary Premium Rate Sheet

      Calculates premium accurately

      Auto Calculates applicant’s sum at risk, either for single or multiple applications of an individual applicant

      Auto reduce or increase sum at risk for multiple applicants when a policy is approved or matured.

      Modification of Applicant’s entry only before the application is processed

      Multiple Reports to view Policy Summary

  • PAYMENTS/ RECEIPTS

      One Single platform to accept payments/receipts for PR, OR, MR, Policy Alteration Payments, and Group Policy Alteration Payments

      Auto Process applications to Underwriting for approval; e.g. Auto Sets paths for approval directly to Underwriting or to Medical if medical conditions met, according to IDRA’s Rules and regulation

      Generate instant Receipts, and statements

      Auto Calculate Agent Commission/earning according to actuary chart for any PR, Deferred or OR Payments

      Only proceed when an agent chain is complete

      Auto Accounting integration and journal entry

      Auto email and sms notifications sent to applicants instantly after every payments made

  • EXPENSES

      Daily Expense Management with accounts integration

      Daily, monthly, or specific date range reports

      Agent wise Expense Costing

      Branch wise Expense Costing

  • REINSURANGE

      Auto Calculated Re-insurance policies according to IDRA Rules and Regulation

      Re-Insurance Premiums according Re-insurance contract

      Generate Re-Insurance Details quarterly to send to Re-lnsurance Companies

      Auto Generate Re-lnsurance Claims List after claim is processed

      Multiple Reports for Re-Insurance Summary is also generated

  • AGENCY

      Data entry for Agent Basic Information

      Agent Type Creation

      Assign Agents to particular agent’s designation, accepts and verifies IDRA’s Agent Registration Number and expiry date

      Agent Chain Creation

      Auto Agent Achievement as per target

      Auto Agent’s Rating & Ranking

      Complete Agent’s history including promotions & demotions

      Multiple Reports for Agent Hierarchy, business and agent details

  • CLAIM

      Claim Process is Robust & Faster

      Easy Integration with Investigation Team

      Auto Claim amount calculation for different types of claims through the actuary sheet

      Quick disposal of Claims

      Claim settlement and reconciliation with Reinsurers is fully automated

      Keeps records of investigations, and settlements for individual and group claims

      Requires approval for each claim

      Auto Re-lnsurance integration for all claims

      Complete tracking till dispatch and Receipt of Claim amounts by claimants

  • LOAN

      Auto Calculate loan amount

      Auto Process Loan installment payments through individual OR payments

      Auto Loan Integration with individual/multiple Policies of individual or multiple applicants

      Auto Generate Re-lnsurance Claims List after claim is processed

      Multiple Reports related to Loan also provided

  • COMMISSION

      Commission or Agent Earning is auto calculated after any premium payment is received as per schedule

      Commission payments by group/individual for any FYP (First Year Premium) or OR by individual payments

      Earning payments auto-adjusted or monthly payments also available

      Multiple Reports for Agent Commission and earning details

  • POLICY SERVICES

      Auto-Calculation for Alteration Premium

      Generate Advanced Receipts, Endorsements

      View Policy Hold-er details for Customer Supports

      Multiple Reports for Due lnstallments, Renewal Status, Lapse Policy Status and Application Details

      Generate sms, e-mail or notifications

      Process Bulk sms to all/individual applicants or at any mobile number

  • GROUP POLICY

      Allows to create a group, add contacts and employees within the groups

      Multiple entries of large number of Employee details, at a time through an excel sheet

      Calculates group premium according to the premium rate sheet

      Allows to change group member details at any point whenever it requires

      Automatically generates group related reports

      Payments, Accounting Journal Entry, claims and alterations of Group Policies are dynamic and integrated

      All necessary Report and Certifications are integrated and customizable according to requirements

  • UNDERWRITING

      Easy ln-Built Rule Engine

      Applications after the first payment proceed to either Underwriting approval or Medical Examination automatically

      Applications are updated after medical examiner approves and queue for underwriting approval

      Applications can only proceed to FPR after the underwriting approves the application

      Accepts application entry Modification, and document ID or Passport sized Photo uploads for any applicants

      Auto-Generate Policy Schedule

      Integrated reports for Policy Schedule Delivery, Revenue Stamp, Policy Holder details, Policy Stamp and delivery etc.

  • INVESTMENT

      Layered approach to Investment instrument creation

      Keeps inventory of Investment transactions

      Supports multiple investments including Share Trading, FDRs, Bonds, and Property etc.

      Automatic FDR Renewal

      FDR interest receivable dates and amounts are shown as per the preset interest frequency of FDR

      Historical data provides business intelligence, aids decision making

      Comprehensive reporting and charting to visualize investment performance

  • MATURITY CLAIM

      Auto Calculate and process maturity Claims

      Auto send for approval for maturity Claims

      After approval, email, sms and notifications automatically sent to policy holders

      Only after the maturity claim application, check and payment is processed

      Auto Bonus Calculation as per Approved Percentage

      Multiple Reports for maturity list and policies are at a single click

  • UTILITIES

      Product List, Supplementary lists, Application status details, Commission Schedule, all the rate charts are available

      Premium Calculator

      Agent Commission Calculator

      Force Logout Management

      Web Management

      Integrated Surveillance Camera Management

  • APPROVAL

      Every process either in HR, Loan, Requisitions, Claims or any other required modules goes through Approval process

      Higher Authorities can approve, Reject or Request to another employees/employer in order to approve

      Notifications are stack under specific users basket and can be retrieved by the specific user in order to notify whether the request has been approved or rejected

      Requests tracker

  • TRAINING

      Training presentations can be uploaded and available to all users

      Every user can go through the training process and take examination through the ERP

      Examination questions are random to different users every time

      Examination marks and certification are auto generated

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