DataPro Corporation providing solutions for insurance brokers

In addition to non-marine and cargo, RiskPro has additional functionality for the following types of business:-

Marine

Marine processing caters for all aspects of vessel insurance including hull and liability. RiskPro links to either the Fairplay or Seaway Register of Ships. Vessels are selected from the register by owner / manager, name, reference or previous name and attached to a quotation or directly onto a firm order risk.

Once attached, vessel values and order amounts can be entered. These values are stored alongside the vessel for future reference. Detailed vessel information is viewed directly from within the marine module. Vessel schedules can be automatically included in system documentation.

Multiple markets can be created and the premium calculation method entered for each market. This can be rate, annual premium and rate per gross tonnage.

Markets can have differing market and client discounts and differing taxation percentages. In addition, third party agents can be added with their associated commission rates.

Once the markets have been entered, the appropriate rate or premium can be entered alongside each vessel. The calculated premiums for each vessel and the formular used can be shown in system documentation such as cover note etc.

Single or multiple accounting transactions can be created for vessels on risk. Debit / credit notes can also be created individually or for all vessels on risk.

Direct link to Fairplay or Seaway Register of Ships

Vessels not on the register can be added through RiskPro

Selected by owner / manager,name,reference or previous name

Multiple markets with differing market and client discounts and differing taxation percentages

Various premium calculation method per market

Vessel schedules with and without premium and formular can be included in documentation

Single risk or individual vessel accounting transactions generated

Single risk or individual vessel debit / credit notes available

Group closings



Treaty

Treaty processing within RiskPro allows periodic accounting based on a template spreadsheet under the treaty. The spread sheet is tightly integrated and allows formulars to be created for each market defined treaty statement code for each account on the treaty i.e. clients, agents, underwriters and brokerage etc.
	When a premium is processed, the template spreadsheet is brought forward to allow entry. Once entry is complete, RiskPro decodes the spreadsheet and launches the premium entry module in order to complete the transaction. Multiple currency transactions are possible for each treaty. All amounts are archived within the system to facilitate year-to-date figures for documentation.

	Processing based on a flexible user defined template
	Agreed and notional rate convertible currency entries
	Statistics only entries
	Template based documentation with references to the year-to-date figures
	Production of market standard treaty statements and non bureau closing documentation



Schemes

The scheme module has been developed to allow fast processing of high volume / low value business.
Scheme templates can be created which capture various sections and associated underwriting. Individual section underwriting can comprise of a mixture of covers and open market with varaible brokerage rates. Appropriate rating information is attached to the scheme together with the limits of the section. Rating can be allocated to geographical areas.
At the time of quotation, the selected scheme template is presented. Cover sections are ticked if required and the appropriate level of cover selected. Rates are automatically taken from the scheme template for the area of risk and the premium for each section is generated. Once the quotation has been entered, user defined documentation can be generated.


	When a firm order is received, a simple click of the mouse creates a firm order risk and the accounting ledger is updated. Documentation such as certificates, schedules, cover notes etc. can then be automatically generated.

Endorsements changing the sections of cover is efficiently dealt with by simply ticking or unticking the section covered indicator and selecting the level of cover. Pro-rata premiums are then automatically calculated and updating the accounting ledger is a one-click operation. Risk renewals can be performed on a batch basis where documentation is automatically produced and the accounts ledger updated. The claims system ensures that a section subject to a claim is covered and the premium paid prior to making a payment.


	Efficient processing of high volume / low value business
	Scheme templates used for fast entry
	Defined limits and associated ratings captured within geographical areas
	Automatic documentation production
	Single click accounts ledger updating
	Simple endorsement process resulting in generated pro-rata premiums and documentation
	Batch renewal processing including documentation and accounts ledger updating
	System ensures claim on a section is covered and premium paid prior to payment