Sara-Insurance Management System

1. Sara-Insurance Management System SARA Infotech (P) Ltd. Bombay, India.

2. Modules: • Insurance Underwriting • Re-Insurance • Brokerage Calculation • Claim Processing • Administration of Insurance Policies • Finance and Administration • MIS • Back office • Payroll • HRD • Purchase/Store • Fixed Assets

3. Insurance Underwriting • Insurance Type Details e.g. Automobile , House, Cargo • Insurance Sub Type e.g in Automobile it can be comprehensive or third party • Insurance Risks – e.g. Covered and not Covered • Insurance Premium for different Risks • Standard Insurance Policies for Insurance Type & Sub Type of various insurance companies

4. Competitive Analysis • General Terms & Conditions • Special terms & Conditions for Insurance Type & Subtype • Standard Brokerage Percentage on different types of Policies • Display & Comparison of Insurance Policies of different Insurance Companies for a given insurance type/subtype • Selection of Insurance Policy • Receipt of First Premium • Issue of Policy

5. Insurance Underwriting(cont.) • Insurance Type Details e.g. Automobile , House, Cargo • Insurance Sub Type e.g in Automobile it can be comprehensive or third party • Insurance Risks – e.g. Covered and not Covered • Insurance Premium for different Risks • Standard Insurance Policies for Insurance Type & Subtype of various insurance companies

6. Reinsurance • Reinsurance Companies • Reinsurance available for various insurance type & sub type • Insurance Risk covered, not covered premium etc. • Reinsurance of a policy/# of policies • Brokerage Calculation • Brokers/Agent Database • Calculation of Brokerage for a policy • Issue of Credit Note through a Broker for a Policy or For a period • Payment of Brokerage • Broker Rating

7. Claim Processing • Receipt of Claim • Appointment of Surveyors if Required • Surveyors Report • Calculation of claim to be paid • Claim Approval • Payment of Claim • Upgrade the Insurer rating

8. Administration of Insurance Policies Renewal of Insurance Policy Reminder letter to the insurer for lapse of Policy Reminder letter for payment of Premium Cancellation of Insurance Policy Reinsurance of Renewed Policy

9. Finance and Administration • Account codes & account groupings • Details of Banks of the company • Purchase bills • Sales invoices • Receipts from customers • Payments to suppliers • Journal vouchers • Bank to Bank transactions or Bank to Cash transactions • View / print payments to be made • Approve payments

10. Finance and Administration (Cont.) • Print payment vouchers • Print cheque • Hole payment for an invoice or for vendor • Compare budgeted expenditure with actual expenses • TDS rates for various types of bills • Debit & credit notes • Post transactions to General Ledger • Perform period end, monthly and yearly processing

11. Finance and Administration (Cont.) • Display / print customers outstanding • Display / print vendors outstanding • Print day books • Print General Ledger • Print trial balance • Consolidate account of various division

12. MIS Total Exposure of the company for various insurance type & subtype Percentage of Risks reinsured Brokers Rating Comparison of Profitability of various Insurance types