Our data model is purpose built to best serve the needs for captives, marine & energy and brokers. It is unique in how it organises data to be easily related to each other. Our customers are provided the best framework for information management, to allow efficient interaction between applications for business-processes and insight from large quantities data.
An application is like a building. Its quality is often based on the foundation. Our data model has allowed us to retain our customer for decades, allowing them to speed up business process and ensure that key objectives are met. PARIS comes with two kinds of code:
• Setup codes such as agreement type (marine & energy, brokers, captives), business type (direct, co, re) and various forms of statuses
• Client codes like division, section, class, product, condition, claim codes, etc.
We offer the option to set up configurable rules, allowing customers to determine if and how different data may act together. PARIS also has its own data dictionary (EUSYS) where super-users have access, and a rich help-function for users to find table and name for every field shown on screen. All online tables are identified with one primary key.
The rich data extracted with our report generator allows insurance executives and specialists to compare vast datasets with advanced analytics. This drives innovation, increase profitability, and improves the ability to deliver the best service internally and externally.
Prebuilt formulas and standardised features for tasks such as supporting various currencies, allows extracting valuable data to be processed in other applications used in the business. This empowers insurance experts to make the right decision at the right time by transforming raw data to support the required business task.
Cutting-edge security mechanisms also serve to ensure the highest level of data protection, which is a vital pre-requisite for the insurance industry that handles massive amounts of sensitive data.
Insurance providers are actively seeking new ways to increase efficiency and improve accuracy through initiatives around governance, risk and compliance. These vital business processes embed processes, rules and controls to ensure that the business operates according to its policies and strategic objectives.
PARIS for marine & energy, brokers and captives streamline compliance to reduce risk, better control uncertainty and remove manual tedious processes across functions and departments in a versatile and changing business environment.
As PARIS is designed to support and improve business processes, it is imperative that management is exposed to real time information about operations. Our installations grant decision-makers an updated and visual tool that keeps track on all KPI, metrics and other data used to track business performance. Captives, marine & energy and brokers can more efficiently deliver customer value, when silos of information are unlocked to provide the insight that provides the required business results. By tailoring each client and function with unique dashboards, PARIS allows for greater efficiency, less errors and higher profitability.
Solvency II reporting
PARIS software for insurance providers such as marine & energy, brokers and captives provide “out of the box” compliance for Solvency II reporting. By implementing our solution, processes and requirements are easily handled with an automated tool that helps with:
• Governance and supervision
• Reporting and disclosure
PARIS allows insurers to manage multiple entities and reduce cost with a system that is quick to install and easy to use. Our Quick Report module has built-in Solvency II reporting capabilities. Data is updated real time, and reports are generated in seconds. The parameters of the reports are selected during the on-boarding process, but may be fine-tuned at any time. Integrated modules which feed data into reports include policy administration, claims management, reinsurance, and financial management.