Underwriting
A core element of Salmon’s insurance services is SAFI™ - the Salmon Application Framework for Insurance - a series of reusable and customisable components that allow insurance companies to quickly gain competitive advantages via a refined and open IT architecture.
SAFI™ is a fully flexible insurance framework, designed from the outset to meet underwriting needs. Moreover, SAFI™ allows insurers to leverage the internet to streamline business processes, cut fixed costs and increase business agility.
The technology behind our underwriting process is vital to our underwriting proposition, as it provides the foundation from which we effectively deliver our services. The move to a web-based system will enable us to overcome old paper-based inefficiencies and help us provide a higher level of service to our brokers. The knock on effect is that our brokers will be more competitive in their environment.
–Stephen Fookes, Head of IT, Novae
Insurers that leverage SAFI™ are able to integrate their business process - end-to-end across their company – with key partners, suppliers and customers. Moreover, they can respond with speed and flexibility to meet external threats, market opportunities and customer demands. As a result SAFI™ customers have a platform on which to grow organically and cost effectively with resilience.
SAFI™ benefits at a glance
- Open, web based (J2EE and XML) architecture
- Multi role access: underwriter, broker, loss adjuster and self service
- Greater visibility of the insured, policies & claims throughout the life cycle – encompassing underwriting, claims, accounting, reinsurance
- Supports B2B (Broker) and B2C (Self Service) business models or wholesale, retail, & direct markets
- Support for Direct & Subscription business
- Accurate and automated premium calculations & system validation using - Integrated Expression Analyser
- Flexible rule based product definition and generation, and automated premium calculation
- Automated policy and wordings creation, distribution, and storage - Integrated document generation engine™
- Greater accuracy in policy creation
- Comprehensive out-of-the-box electronic document management and electronic document repository
- Dramatically reduced fixed costs compared to traditional policy & claim administration
- Better management information – Sophisticated management reports & Business intelligence capability
- Reduced duplication of policies & claims across multiple back office systems
If you need more information contact us now, or make a Services Request.
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