ProfiData

TIA Solution - TIA supports life and pension insurance policies

We implement life insurance products

Moreover, we can also offer an extension of TIA 7 – a ready-to-use Investment Products Management Module

As TIA Partner we implement TIA Solution for the purpose of handling life insurance contracts. We offer end-to-end implementation starting from analysis of requirements of an organization, as well as implementation of group and individual life protection and investment products.

Investment Products Management Module (unit-linked)

We offer you the extension of the TIA 7 functionality with ready-to-use Investment Products Management Module. It enables simple, fast and fully parametric extension of any insurance product with the investment part (unit-linked product). The module is integrated through its parameterization in the TIA Product Centre. After installation, the module provides several new functions including: defining funds and investment strategies, determining premium allocation, handling of fund buy and sell orders, transfers between funds, manual buy and sell orders, full integration with the TIA Claims and Accounting modules. The Investment Products Management Module also implements the TIA SOA architecture, providing interfaces to the external system that executes investment funds buy and sell transactions.

Module parameterization

The parameterization part of the module defines available investment funds, along with their service costs and accounts on which investment operations are recorded in the accounting module.

Policy issue

After the module is installed and configured, during the issuing of the investment product policy we get the opportunity to determine how the premium will be distributed between investment and protection parts of insurance, and to determine allocation of investment between funds. The choice of funds and allocation can be performed based on predefined investment strategies.

Information about policy funds value

After a policy including an investment part is issued, when reviewing the policy details one can access information about the current state of fund accounts and operations made on each account. The Investment Products Management Module is integrated with the TIA Accounting module, so payment of policy premium automatically generates investment funds buy orders. The system Operator can also make transfers of share units between fund accounts of the policy or register manual fund buy and sell orders.

Full integration with the TIA Claims module

The Module is integrated with the standard functionality of the TIA Claims module. Registration of a claim related to the investment part of the insurance automatically generates fund sale orders.

Profi-Data is a TIA Solution Partner

Our consultants have the knowledge and proven methods to support the TIA deployment projects. It’s important for us that our customers receive good and fair advisory services, which let them easily use the system and improve the functionality of the TIA solutions.