Pharos General Insurance

Contract Changes in one or multiple transactions
Cancellations and terminations
Lapses, suspensions, reactivations
Annulments
Renewals – individual and group
Automatic indexation of policy values
Automatic pre-retirement switching of funds
Group and individual transfers
User defined contract transactions
Reserves
Fund management for life and other insurance lines
Mass market administration such as banc assurance models and others
Fronting, coinsurance (received and ceded), received reinsurance (both via treaties and via facultative business)

Death at client level (i.e. a single event across all policies for that client).
Early Withdrawals, surrenders
Policy maturity
Retirements- early, normal, late including state legislation
Incident and Event management
Reserve handling
Cost control with user defined rules, especially useful for lines like cars and health.
Catastrophic event administration
Multiple claims over a single incident
Expenses, deductibles and coinsurance administration
Payments and Liquidations
Salvages and Recoveries
Automatic feedback of loss information to adjust rating rules according to user definitions

Automatic and Facultative
Proportional and non proportional
Standard, profit and over commissions
Working and Catastrophic
Multiple levels for the same structure of treaties
Partial exclusion of risks and perils from contracts or reinsurers
User defined profiles for premiums and losses
Period end processing including portfolio transfers, profit commissions and bouquets.
Standard reports for borderaux and technical accounts, with user defined configuration.

User defined sales channels and commission structures
Banc assurance
Multiple agent structures allowed in the same policy for different parts and different contract trans-actions
Contests and other promotions
Account Reconciliation with brokers and other agents
Services allow agent systems to access the application applying security profiles

Complete payables and receivables, from insurance and other transactions
Unlimited currencies and monetary units in the same transaction
Financing and refinancing
User defined transactions and behavior
Tax definition and calculation, based on tax zones, tax bases, and an unlimited number of tax combinations
User defined statements on the fly, at any date, without reprocessing
Combined user defined account statements
User defined interface to internal or external general ledger
Complete built in general ledger with user defined account structure
Multicurrency general ledger with exchange rate adjustments, inflation adjustments and projections
Bank account management, check issuance, reconciliations
Cash box and cash management

Unlimited user defined roles
Configurable data requirement by role defined by user
Data requirement may be linked to type of insurance business being issued
Tax classification
User defined configuration of groups of third parties
Multiple names for a third party allows use of names in different lan-guages under a single search mechanism
Persons, companies, groups, and other user defined classifications
Warning lists, black lists, exclusion lists, and other user defined restrictions
Guarantees and financial information and profiles
Corporate structure defined by user
Single view of a third party relationship with the company (clients, agents, reinsurers, vendors) with snapshots of business activity

Multi-line products even across life and non life business
User defined product structure
Unlimited levels in product definition
Reusable insurance contract definition
Reusable user defined rules
Branding of same products or adjusted products across the corporate structure
Multilingual product definition, allows issuance of policies in different languages
Individual, group and grouped, floating and combined insurance contracts