insurance systems

Magenta Insurance System

Magenta is an integrated insurance application for the purpose of processing insurance policies

Magenta Insurance Systems

Magenta is an integrated insurance application

for the purpose of processing insurance policies (either B2B or B2C), medically screening those policies, and handling Claims and Assistances Cases.

Developed in .NET technologies, Magenta is delivered via a web browser which means that it can be accessed by authorised users throughout the world.

Magenta Insurance Systems - Direct

Magenta provides a flexible easy-to-use call centre system for the selling of Direct Travel Insurance to customers over the telephone. Magenta has the following units:

  • Direct (B2C).
  • Magenta provides a flexible easy-to-use call centre system for the selling of Direct Travel Insurance to customers over the telephone:
  • 100% Web Based
  • Flexible pricing model
  • Price by age
  • Individuals, Couples, Families, and Single Parent Families
  • Client definable Destinations
  • Client definable Durations
  • Multiple campaign handling with optional discount on Gross price for specified campaigns
  • Per policy and Per Person option handling
  • Tailored pre existing medical trigger questions
  • In-built Medical screening rule set with Additional Premium and/or Additional Excess functionality
  • Credit / debit card payment handling and processing
  • Direct Debit Handling
  • Secure Credit Card retention though use of token codes for automated renewals
  • Client defined Operator scripts on each page
  • Tailored Quote and Policy letters, Schedule, and Medical screening confirmation documents can be printed, emailed or faxed to customers






  • Tailored cover limits and excesses shown for each policy on screen and documents; based on selected scheme and chosen options
  • FSA compliant audit trail and client history
  • Gross / Net / Commission / Net to Underwriter calculations and Premium Bordereaux
  • Self managing administration section allowing a non technical administrator to create schemes; maintain prices, options, medical screening rules, cover and excess limits, and campaigns
  • Client defined renewals process producing documents and quotes to pre defined time periods before and after a policy expires.
  • Comprehensive reporting tool for the production of tailorable management information reports. See Magenta Reports
  • Can be connected to public websites to provide scheme information and rates, as well as processing certificates in real time. See Connect
See Magenta Connect

Magenta integrates with the biggest price comparison sites

 Price Comparison sites

Agency Sales

Agency Diagram

Magenta provides a flexible back office system for the processing of Travel Insurance certificates sold via a third party agent.

  • 100% Web Based
  • Flexible pricing model
  • Infants, Children and 7 Adult age bands
  • Individuals, Couples, Families, and Single Parent Families
  • Client definable Destinations
  • Client definable Durations
  • Different prices available for different cancellation periods
  • Per policy and Per Person option handling
  • Production of Invoices to agents with multiple IPT ratings for different markets.
  • Cash payments and reconciliation against invoices
  • Data feeds to third party nominal ledgers
  • Gross / Net / Commission / Net to Underwriter calculations and Premium Bordereaux
  • Cancellation and Endorsement options with full tracking for credits to invoices and bordereaux
  • Self-managing administration section allowing a non-technical administrator to create schemes; maintain prices and options; and manage multiple Agents
  • Comprehensive reporting tool for the production of tailorable management information reports. See Magenta Reports
  • Can be connected to public websites to allow agents to issue own certificates and manage their own accounts.
See Magenta Connect

Underwriting

Magenta contains an underwriting management system; which allows an underwriting agent to manage declarations from multiple agents with multiple schemes.

Underwriting Diagram
  • Premium Declarations management (including automatic import from Magenta sales)
  • Claims Declaration management (including automatic import from Magenta claims)
  • Easy set up of new agents and new schemes
  • 3rd Party Cost Management
  • Legal Expenses Management
  • Tailorable Earnings Patterns
  • Underwriter Declaration Reporting
  • Triangulation Reporting
  • Export reports to Excel

Assistance

Magenta contains as assistance module for the managing of assistance cases by Medical Assistance companies.

  • 100 % Web Based
  • Registration of new cases which are automatically mirrored in the claims system
  • Recording of case information
  • Management of Doctors case notes
  • Contact Management database
  • Enter repatriation requirements, submit to providers for quotes, assignment documentation produced for clients or accompanying staff
  • Financial management of incoming invoices
  • Call log
  • Fees management
  • Log of all activities occurring on each case
  • An case handler task and diary system
  • Selection of documents which can be printed, emailed or faxed directly from the system
  • Comprehensive reporting tool for the production of tailorable management information reports
  • SMS Messaging and Alerts

Claims

Claims Diagram
  • 100% Web Based
  • Records key claims information such as Clients making the claim, Policy/Scheme, Travel Dates, Incident dates, Incident Country, Insurer etc
  • Medical claims can be coded with ICD codes so that they can be matched to medical screening for claims analysis
  • Large Loss monitoring
  • Manages each section which the claim is set against - checking maximum cover limits and excesses
  • Can set Initial Reserve, then further reserve changes recorded in the reserve history
  • User definable covering letters
  • Suite of standard claims forms or tailored forms to meet specific client requirements
  • Document library where documents received from the client can be uploaded to a claim
  • Documents can be scanned and stored within Magenta
  • Customers will receive a SMS text message automatically when their claims form is received
  • Contains maintainable list of providers and contacts
  • Manages payments to insurers, providers, and clients. Cheques or payment request documents can be produced from the system itself. Security on payments ensures that only authorised users can make claims.
  • Cheque Printing tool or can produce BACS / Bank Transfer export request
  • Manages recoveries made to the claim and any commission to the claims handlers for any recoveries made.
  • Manages claims handling fees on a variety of different charging models and produces a fee Bordereau
  • Produces claims and claims payments Bordereaux
  • Claims Handler Task Manager which prioritises tasks and monitors contract commitments with Underwriters.
  • Claims history which records all actions on a claim
  • Comprehensive reporting tool for the production of tailorable management information reports. See Magenta Reports
  • SMS Messaging and Alerts

Medical Screening

This can be integrated into the Direct (B2C) or Agency (B2B) process or on a Stand Alone basis.

  • 100% Web Based
  • Simple scheme, duration, destination, and person data entry page
  • Application of Multipliers in accordance with direction from Underwriters
  • Selection of different Additional Premium calculation methods
  • Credit / debit card payment handling and processing
  • Client defined Operator scripts on each page
  • Tailored covering letters and Medical screening confirmation documents can be printed, emailed or faxed to customers
  • FSA compliant audit trail and client history
  • Gross / Net / Commission / Net to Underwriter calculations and Premium Bordereaux
  • Self-managing administration section allowing a non technical administrator to create schemes, agents, and medical screening rules

Comprehensive reporting tool for the production of tailorable management information reports.
See Magenta Connect

Can be connected to public websites to allow users to carry out own medical screening online.
See Magenta Connect

Magenta support a number of different Medical Screening rules providers:

Healix, Protectif, Mediquote Expert, Tamis and Medichek

Reports

Magenta provides a powerful reporting tool, which allows the user to define data, and how they wish to analyse that data. Using a simple OLAP style wizard, users can select which data they wish to analyse (eg claims, sales, medical screening), and then select which fields they wish to include in the report. Reports can be saved so that once a format of a report is created then it can be run time and time again.

  • Step 1 – Select Data Source
    The user will select which data set they wish to report on – which could include (data sources can be tailored to meet specific client requirements) claims data, medical screening, sales / quotes etc
  • Step 2 – Select Format
    Reports are available in a tabular, bar chart, line chart, pie chart, line/bar chart, or scatter graph
  • Step 3 – Select Fields
    The user can select fields to include in the report. The more fields it includes in the report then the more detailed the report will become. For example if the user selects say Scheme and Number of claims – then the report will show the number of Claims by Scheme – if they then add Claim Location to this report then it will show the number of claims by Scheme by Claim Location etc
  • Step 4 – Sort Order
    The user will select one or more fields to order the report by – eg showing the Agents in alphabetical order or showing the Operator who sold the most policies
  • Step 5 – Filter
    The user can filter the report to include or exclude records in the report
  • Step 6 – Chart Plotting
    If the user has set the report to produce a graphical format then the user will be required to plot which fields will appear on the X and Y axis of the graph
  • Step 7 – View Report
    The report will appear on the screen in a printable formatStep 8 – Export to Excel The report can be exported into Excel for further analysis or for the importing into another system

Connect

Connect is a set of XML web services which can provide the business rules and the database storage of policy information to a third party application such as a public facing web sites. This allows Magenta to be used as the back end tool for processing applications but a front end can be developed by a client own development team themselves.

Websites

B2C or B2B web sites can be developed on top of Magenta.

Examples of web sites which are driven by Magenta are as follows:

www.oktotravelinsurance.co.uk

www.erv.co.uk

www.freespirittravelinsurance.com

www.world-first.co.uk

www.explorerinsurance.co.uk

www.goodtogoinsurance.com

www.insurewithease.com

Clients

These are some of our clients using the Magenta Insurance System.

These are some of our clients using the Magenta Insurance System

Get in touch

Why not contact us to see what Magenta can do for you

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