Aussie insurers get Aussie solution
Aussie insurers get Aussie solution
A local software company, Marquee, is aiming its new insurance management solution at the Australian market.
MarQuee said their software has been developed for use by Australian insurance companies. Management Solutions Software from Marquee is expected to find a niche in insurance management, following the widely documented implosion of HIH. In the wake of HIH, insurers at all levels have recognised the need for greater organisational transparency and audit trail documentation.
"We started to notice that businesses didn't know how much [revenue] was coming in and going out of their organisation," said Gabriel Vanni the CEO of Marquee.
The system provides an end user with a "total history" of transactions and renewals made:
"Businesses can see changes and make amendments made to transactions, as well as any policy updates that may have occurred." The application's data keeping abilities generate reports on all clients and each individual area of the business. Users can view business performance through historical performance reports and can access audit trails.
A number of insurance companies including Zurich Australia and Countrywide Tolstrup Financial Services (CTFS) have already implemented Management Solutions Software. CTFS believes its administrative sector is already reaping the benefits of implementing the new application.
"It's a fantastic timesaver for administration and reporting. It enabled us to run quotes and ascertain who our debtors and creditors are, who had paid their premiums and who hasn't. It's predominately used for retail but we have found it has really helped us with wholesale as well," he said. It's crucial for us that it's Australian based, we wouldn't have taken Marquee up if it was based overseas," said Gary de Crue of CTFS.
CTFS provide life insurance and required software that is relevant to the circumstances of Australian clients. Imported programs are typically configured to vaguely address Australian standards; CTFS were looking for something more particular.Management Solutions Software assisted with renewing order forms and running quotes, procedures that CTFS said were streamlined by the Management Solutions Software system, compared with the legacy system they had been using.
Related Articles: