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FIRE
FirstGen Neo supports the following for the Fire line of business.
- Material Damage
- Loss of Profit
- Engineering
Various Perils supported by FirstGen Neo
- Fire and Lightening
- Earthquake
- Volcano
- Flood
- Typhoon/Windstorms, etc
- Theft
- Riot & Civil Commotion, Vandalism
- Vehicle (Aircraft Collision)
- Explosion (Boiler)
- Electricity (Short Circuit), etc.
FirstGen Neo is able to support Commercial Stock and Floater Policies.
FirstGen Neo has full risk blocking/accumulation functionality essential for this line of business, including the facility to view available capacity/exposure online.
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MARINE
FirstGen Neo supports the following for the Marine Line of Business
- Hull - Property Damage to the vessel, aircraft and attached equipment.
- Cargo - Damage to goods shipped. The shipper is protected not the ship carrier.
- Inland Marine - Damage to goods in transit within a country or without going on an ocean journey. This can include rail, truck, ship or plane. It can also be written as Fire or Accident Insurance subject to National Laws.
The issue of certificates for cargo policies under a master policy is supported by the Open Cover component.
FirstGen Neo has full risk blocking/accumulation functionality essential for this line of business, including the facility to view available capacity/exposure online.
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MOTOR
FirstGen Neo supports the following for the Motor Line of Business
- Private Car - Comprehensive
- Private Car - Statutory cover only
- Commercial Car - Comprehensive
- Commercial Vehicle - Fleet insurance
- Motorcycle
- Others
FirstGen Neo supports other riders on motor policies such as PA.
FirstGen Neo can automatically calculate the premium based on various methods: Flat rate, tariff table and scoring method.
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PERSONAL ACCIDENT
FirstGen Neo is a fully integrated GUI based system that covers the full cycle of operations from prospecting operations to policy issuance, reinsurance cession, claims handling, accounting to the General Ledger. FirstGen Neo has a wide range of MIS reports and strong business intelligence features to analyze the key parameters influencing business decisions.
FirstGen Neo is internet-enabled to allow remote users, such as Branch Offices, Agents and Brokers, to access it over the Internet. Alternatively to deploy at Point of Sale, e.g. Travel Agents Outlet.
Personal Accident Insurance covers:
- Death, Total Permanent Disability, Partial Permanent Disability, Total Temporary Disability/Partial Temporary Disability, Medical Expenses, Sickness
Personal Accident Insurance policies are popular mass marketed policies and good example of pure Insurance.
Workmen's Compensation
The law stipulates the amount to be paid for accidental bodily injuries and diseases arising due to the employee's occupation. The laws are no fault laws. Claims are to be paid irrespective of fault.
Miscellaneous
- Hole in One For Golfer to defray the obligatory round of drinks for a hole in first shot
- Cast Performance For losses due to non performance of a musical, theatrical or other artistic/sporting event
- Credit Insurance Against abnormal losses on loans or accounts receivable, excludes normal bad debt
- Glass & Neon Sign As special property damage
- Travel insurance Covers PA plus expenses due to lost baggage, delayed flight, medical evacuation, etc
- Liability Covers the insured against Legal liability, which other parties may claim. Civil liabilities arising from acts of omission or commission of the insured
- Crime Insurance Covers the insured against loss or damage due to a criminal act of a third party. Bonds are surety or guarantee posted by Insurance Company.
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LIABILITY
FirstGen Neo is a fully integrated, GUI based system that covers the full cycle of operations from prospecting operations to policy issuance, reinsurance cession, claims handling, accounting up to the General Ledger. FirstGen Neo & Casualty Insurance Software (P&C Insurance Software), has range of MIS reports and strong business intelligence features to analyze the key parameters influencing business decisions.
FirstGen Neo is internet-enabled to allow remote users, such as branch offices, agents and brokers, to access it over the Internet. Alternatively to deploy at Point of Sale, eg Travel Agents outlet.
FirstGen Neo handles all types of liability insurance including
- Workmen's Compensation, Employer's Liability, Professional Indemnity, D&O, Public Liability, General Liability
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