LIMRA
Our flagship general insurance ERP system, LIMRA, is a comprehensive solution for insurance operations in various LOBs.
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LIMRA is a system supporting a wide array of insurance functions, from quote issuance to policy administration, claims processing, and reinsurance handling, all seamlessly integrated with billing, customer service, and accounting modules. It offers management reports in multiple currencies for enhanced flexibility.
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LIMRA also comes with B2C capabilities, offering insurers web and mobile solutions to serve customers with added ease.
Core Line of Businesses
Motor
Motor Insurance provides financial protection against damage, injury, and liability from road vehicles accidents
Engineering
Engineering insurance covers risks for contractors, machinery, equipment,
Property
Fire/Property insurance protects against risks like fire, theft, and natural disasters, covering homes and other properties.
Credit Life
This module enables defining new insurance products from scratch or using existing definitions, either for the entire product or a specific level.
Group Life
Group Life insurance provides collective coverage for a group, offering financial protection in case of death.
Marine Hull
Marine Hull insurance protects vessels against physical damage and liabilities during operations.
Marine Cargo
Marine Cargo insurance covers risks for goods during transit by sea or land, including single and multiple shipments, and carrier liability.
General Accident
General Accident insurance covers personal and workplace accidents, liabilities, malpractice, and more, offering comprehensive protection across various risks.
Travel
Travel Insurance provides coverage for trip-related risks, including medical emergencies, cancellations, and travel disruptions.
Medical Malpractice
Medical Malpractice Insurance covers legal costs and damages from professional negligence claims against healthcare providers.
Key Features of LIMRA
Anti Money Laundering
Our Anti-Money Laundering (AML) solutions protect against financial crimes through advanced customer onboarding, enhanced due diligence (EDD), and AI-powered transaction monitoring. We ensure compliance with international regulations like FATF and US Bank Secrecy Act, while screening for Politically Exposed Persons (PEPs), sanctions, and adverse media. Our RegTech platforms streamline AML compliance, improve transparency, and detect suspicious activities in real-time to keep your business safe.
Finance Module
The Finance Module is an automated system tailored for the insurance and healthcare sectors, streamlining financial transactions with features like UPR (Unearned Premium Reserve), Cheque to Credit Note, and Expense & Cost Center management. It allows for efficient tracking of premiums, expenses, and profits, while offering tools like Voucher Reversal and Variance Analysis for detailed budget and cost analysis. Designed based on the Chart of Account (COA), it enhances financial accuracy, compliance, and operational efficiency in the insurance industry.
Reinsurance Module
Our Reinsurance Module offers comprehensive risk management for insurance companies, providing flexible solutions through Facultative and Treaty Reinsurance. Facultative reinsurance allows for individually negotiated contracts covering specific risks, while Treaty reinsurance pools multiple policies for streamlined coverage. Non-Proportional (Excess of Loss) reinsurance protects against losses beyond a set threshold, and RI Allocations automate the distribution of claims and premiums, ensuring smooth operations. This module enhances risk mitigation, automates processes, and helps insurers maintain financial stability with ease.
Features of LIMRA
User Management system
User management within the LIMRA ERP system allows users to securely register, log in, and access personalised services while allowing backend teams to keep track of user data and activities with robust data security. This system helps boost operational efficiency while providing convenience to customers.
Insurance Administration Management system
LIMRA empowers employees to handle insurance processes like quote issuance, policy review, issuing revisions, and converting proposals to sales all within the insurance ERP system. It maintains a robust database to help employees carry out administrative tasks efficiently.
Insurance Quote Management system
LIMRA offers a quote management system which can keep track of authorised access for multiple administrators within the insurance ERP framework. It allows administrators to efficiently handle tasks and carry out their role, while also automatically maintaining audit logs for every transaction, including the date and time for accurate tracking.
Policy Management system
This module helps manage policy data, allowing underwriters, policy administrators, and policy issuance authorities to communicate, while maintaining access to policy data
Insurance Agents Management System
This system stores TPA, Insurance agents, and Broker data, allowing both the company and the agents to have easy access to the relevant data, as well as the service fees/ commissions.
Endorsement Management System
This system manages policy modifications or expansions by title insurers, often increasing the liability for underwriters and requiring additional charges beyond the standard premium.
Claims Management System
The Claims Management module enables fast claim processing by supporting electronic submissions, resubmissions, real time status, faster reimbursements, and E-claim processing for primary and secondary parties.
Insurance Accounting and Automation
This system automates complex insurance accounting tasks, including regulatory compliance, tax filing, commissions, and billing processes, providing more efficient and flexible solutions.
