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Data is organized by case, group, and policy, where a case is composed of one or more groups, and a group is comprised of one or more policies. Transactions can be entered at any level. Various reports are provided at all levels as well as for the entire block of business. |
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Policy data can be accessed in XML format using web services. |
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Tracking and accounting of units and values for a virtually unlimited number of funds per policy. Unit value calculation for funds with daily unit values, also support for funds where unit values are not calculated daily. |
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Individual policy charges can be based on group level assets. |
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Full 7702/7702A testing. |
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Ability to handle multiple coverage layers on a single policy. |
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Commission tracking for a variety of commission types, such as percent of premium, percent of assets and per policy. |
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Multi life products supported including both Last Survivor and First-to-Die. |
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Capability to import transactions and policies into the system from Excel spreadsheets. |
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Reinsurance calculations and necessary accounting records with reports and extracts. |
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Automated nightly batch processing |
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Full support for all required transactions, including fund unit processing, accounting and undo/redo. Transactions are entered on-line or in many cases can be imported from Excel spreadsheets. |
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Reports can be exported to PDF files and in most cases Excel files. |
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Daily reconciliation of fund balances, policy values, and 7702/7702A compliance values. |
Policy Administration 1
(203) 746-0559 email: kiri@lifeproductdevelopers.org