General insurance

Rashmitha Information Systems (RIS) | Enterprise General Insurance Solutionshall cover the majority of functional requirements, without additional development. In particular, RIS shall look at how the solutions can respond to specific requirements of the local market.

RIS Offering the following minimum functional requirements but not limit:

RIS – Enterprise General Insurance Suite

The Core Insurance system shall support entire lifecycle operation of general insurance business, from new business, endorsement, claims, reinsurance, finance, compensation, and so others, with high degree of flexibility, configurability, and automation.

The System shall support all classes of products for General that are classified as follows but with option of adding new classes of General Products:

MotorProduct (Individual Motor insurance and Fleet Motor Insurance for TPL, TPL Plus, and Comprehensive)

Property-Fire Product (Residential, Commercial, Industrial, Administrative, Mixture for Building & Content)

Travel Product(Protect, Student and Pilgrimage)

Bond Product (Bid Bond, Performance Bond, Custom Bond and Advance Payment Bond)

Marine Product(Marine, Aviation, and Goods in Transit)

General Accident Product(Personal Accident, Group Personal accident)

Casualty/Liability Product

Fidelity Guarantee Product (Fidelity-Money, Fidelity-Goods and Fidelity-Property)

Engineering Product (Erection all risk (EAR), Contractors all risk (CAR), Electronic Equipment, Machinery breakdown, IT Equipment and Contractors Plant & Machinery (CPM))

Money Product (Money in Transit and Money in Safe)

Product Factory

The Core insurance shall contain product factory which provides flexible product definition capability, used to define all the business rules and static information that the system needs to enforce rules and perform the day to day processes of a given product.

Policy Administration

Policy Administration module shall manage the policy lifecycle, this includes:

@ Quotations

provides the user with the capability to give quotations for one or multiple products.

@ Underwriting

provides the data capture, validation and premium calculation facilities based on every class of insurance.

  • New business
  • Endorsements
  • Renewals.
  • Integration of underwriting and reinsurance components
  • payments,
  • Recovery (scraps and recourse/subrogation)..
  • Maintaining claims history on clients, policy etc.


Claims module shall respond to all claim processes for all kinds of products including but not limited to:

  • Claim first notice
  • Claim reporting and booking,
  • Reserving,
  • Settlement (appraisal, field investigation, special investigation, calculation, etc)

Business Channel Management

The system shall support, the management of all sales channels, sales Agent channel, Brokers, sales staff, point of sales and Branches. This shall include but not limited to:

  • Sales channel and agreement set up and maintenance
  • Commission calculation and settlement
  • Sales performance tracking

Finance/Account Module

Finance (Bill, Collection & Payment) Module must manage real-time generated financial records, handles premium and fees payment, and supports general ledger (GL) posting processes.

Fully integrated with all business modules, and able to collects financial data from new business, renewal, endorsement, claims, recovery, reinsurance co-insurance, commission and agent consolidation billing. This means that accounts receivable and accounts payable must be generated and posted to the GL. The system must support or allow configuration of accounting rules in system.

The system shall support all mode of payments - Cash, Bank transfer, POS, and online payments, mobile payment.


The Reinsurance Module shall provide the functionality of managing both outward and inward reinsurance businesses, including treaty and facultative.

The risk must be automatically checked, for whole policy and also on level of risk unit. The retentions and cessions must also be automatically calculated, and system able to generate reinsurance arrangements according to the treaty. Once the risk exceeds the treaty capacity, the facultative must be triggered.

The Reinsurance module shall provide statements especially premium and claim recovery, to settle with the Reinsurance Company.

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