Human beings are striving to reach greater heights than ever before - building taller buildings, longer bridges, bigger plants and expanding the reach of mankind. However, the risk associated with such endeavor has also increased. All this is fuelling the need for risk management and insurance.
SARA Insurance covers underwriting insurance policies, re-insurance, risk analysis, claim processing, brokerage calculation, finance and MIS for all types of insurance - Auto, Fire, Theft, Marine Cargo, Marine Hull, Workmen, Engineering Contractor, Medical, General Accidents, Life etc.
The system can be used by insurance companies as well as insurance agents to issue insurance policies which are most suited for their clients. The system provides total exposure of various types of policies, percentage of risk reinsured, broker rating and profitability of various policies.
The insurance underwriting covers different class of business, standard policies of different insurance companies, general/special terms and conditions, brokerage percentages, premium rates, comparison of various insurance products for a client and selection and issue of an insurance policy.
The reinsurance module covers the reinsurance available from other companies, insurance risk covered, reinsurance premium and reinsurance of policies.
The claim processing module covers the registration of a claim, validation of the claim, appointment of surveyor, surveyor's report, calculation of claim to be paid, initial, interim and final payment of claim.
The Administration module covers the reminder letters to the clients for payment of premium, renewal of policy, cancellation of policy and brokerage payments.
SARA's applications have been successfully implemented in India, Indonesia, Malaysia, Thailand, etc.