Configuration Module
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The Beyontec Suite’s configuration module allows insurance companies to configure the workflows and configure many functions across Underwriting, Claims, Billing, Reinsurance, Financial Accounting, Reports, Queries, and more. Using the user-friendly configuration interface of the module, insurers can configure the suite to meet the specific needs, without programming or IT intervention. Reduce the time-to-market for new products, add new lines of business faster, change rating and ensure regulatory compliance.
Module Highlights
Each feature of the module provides the specific functionality needed to support the business, the way you want to, giving you the independence and freedom needed to run the business . The in-built features enable you to adapt to market trends and requirements with greater speed and agility.
60+ Configuration Tools
Beyontec Suite provides most of the configuration tools required to manage the day to day changes required to address the changing business needs of insurers.
Ease of Maintenance and Definition
Add new products, modify existing products, retire existing products, amend offered coverage’s, implement rate changes, change workflows and algorithms, add forms, and even add or change fields with ease.
No Technical Dependency
No dependency on technical staff to make changes or modify products from time to time. The business-like terms allow business users to configure the products to suit the business needs as demanded.
Authority based Definition
Configure access rights for employees and other users and control what they can see and what they can do with the core solution and its modules.
Introduce New Rates & Change Existing Rates
Configure changes to premium rates for existing products or introduce new rates for new products easily using the rating engine.
Introduce New Products & Change Existing Products
Based on market demands, configure and introduce new products or modify existing products by using product definition engine configuration tool.
Excel Uploads (Import & Export Rates)
Upload new premium rates or download rates using common file formats like MS Excel.
Introduce Coverages, Discounts, Loadings, Fees
Define or update product attributes including discounts and fees using simple business rules that require no technical support.
Configure New Business Rules
As the business dynamic changes, rules often need to be updated with new business logic. The configuration tool of the suite allows subject matter experts (SMEs) to add a new rule without having to change the application code, and create a new version with an effective date.
Version Control
The configuration tool maintains a historical record of all changes made in the system which is time stamped, and authenticated for easy traceability and accountability.
Cloning
The tool allows existing configurations to be duplicated or cloned without having to re-write them, saving precious time of business users.
Security and Password Maintenance
The highly secure environment of the tool allows authenticated users to access the modules or functionalities and follows strict protocol on password maintenance.
Complete Audit Tracking & History Maintenance
All actions done on the tool is recorded for tractability and compliance. All associated communications and supporting documents related to a change or action is mapped and stored for easy retrieval.
Optimised for Performance
The pre-configured tools are optimised for performance, taking into account the learnings from global and developed market experiences.
Independence and Self sufficiency
The configuration tool of Beyontec Suite comes with world-class features and capabilities that will make an insurance company fully independent.
