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Where TECHNOLOGY means BUSINESS

Insurance Solutions. Where TECHNOLOGY means BUSINESS. AL-HARIS Framework & Legitimate Compliancy. AL-HARIS is a fully integrated general Insurance Solution that handles all policy admin, underwriting, claims and reinsurance operations and activities for the following classes of business:

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Where TECHNOLOGY means BUSINESS

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  1. Insurance Solutions Where TECHNOLOGY means BUSINESS

  2. AL-HARIS Framework & Legitimate Compliancy • AL-HARIS is a fully integrated general Insurance Solution that handles all policy admin, underwriting, claims and reinsurance operations and activities for the following classes of business: • Motor • Marine & Hull • Fire • General Accidents • Engineering • Liabilities • in accordancewith: • Islamic Shari' a principles (Surplus Distribution / TAKAFUL) • Audit, Accounting Organization for Islamic Financial Institutions (AAOIFI) standards

  3. AL-HARIS Framework & Legitimate Compliancy Profit Sharing Surplus Distribution (TAKAFUL) Risk Sharing

  4. AL-HARIS Technology Platform AL-HARIS has been designed and developed using Oracle databaseand Oracletools and efficiently scalable over multiplatform.

  5. AL-HARIS Feature Highlights • Bilingual • GUI • Standardization • Parameterized • Fully Integrated • Lower future development and maintenance costs • Flexible design allows easy interface with other systems • Modular Design supporting phased implementation • Robust Multi-Level Security & Log files

  6. AL-HARIS Business Modules

  7. Surplus Distribution / TAKAFUL R E I N S U R A N C E UNDERWRITING & CLAIMS Architecture Liabilities General Accidents Fire Marine & Hull Engineering Motor Data Flow Integrated Business Layers Policy Admin General Insurance Set Up Accounting Clients Security Core Systems

  8. System Value Added Chain Set Up Business Process Automatic Vouchering Reporting Inquiry

  9. First Layer Set Up Accounting Clients Security Core Systems

  10. Set Up Security Clients Accounting Core Systems • The Set Upsystem defines several parameters to establish unified interfaces: • Organizational structure • Error messages • Defining programs, functions, elements and their relevant. • Defining Employees and users

  11. Set Up Security Clients Accounting Core Systems • The Security & Privilegessystem manages and controls users/groups authorities and profiles parameters to guarantee full system protection and monitoring, such as: • Log time & frequency Control • Users groups • Group privileges • Users records • Active users

  12. Set Up Security Clients Accounting Core Systems • The Clients systemmanages the clients’ basic information on any nominal level • Unique card numbering • Types of client :Client, Insurer, Broker, Reinsurer, Garage, Beneficiary, lawyer…. • Client Black Listing • Inquiry about various types of clients, using any part of their full names.

  13. Set Up Security Clients Accounting Core Systems Features • Unlimited COA • Multi-Currency • Multi-Companies • Closing Periods • Reporting • Automatic Vouchering • Compliant with (AAOIFI)

  14. Second Layer R E I N S U R A N C E UNDERWRITING & CLAIMS General Accidents Fire Marine & Hull Engineering Liabilities Motor Policy Admin General Insurance

  15. R E I N S U R A N C E Underwriting & Claims Policy Admin GA Motor Liab. Fire Marine & Hull Eng. Policy Admin General Insurance Class/Minor Of Business Production (Underwriting) Serial Numbering Coverage's Fees Discounts Object Insured Condition Clauses Reinsurance XOL/Prop. Production Periods Incoterms Zone Mapping Conveyance Type Payment TYPES Business Source Automatic Vouchering

  16. R E I N S U R A N C E Underwriting & Claims Policy Admin GA Motor Liab. Fire Marine & Hull Eng. Policy Admin General Insurance Class/Minor Of Business Claim Accident Types Settlement Types Claim Parties Vehicle Types Settlement Methods Repair Types Settled & Recovered Parties Damaged Parts Recovery Types Spare Parts Bodily Injuries

  17. R E I N S U R A N C E Underwriting & Claims GA Motor Liabilities Fire Marine & Hull Engineering Policy Admin Production (Underwriting) WORK FLOW General Insurance Automatic Vouchering • Policy Info. • No • Minor COB. • Client • Broker • Validity • Accounts • Property • Risk Type • SI • Veh/Fleet • Prem. • Fees • Coverage • Prem. Sum. • Rate • SI • Discounts • Add. Cov. • Fees • Total Prem. • Endorse. • Add • Modify • Cancel • Renewal

  18. R E I N S U R A N C E Underwriting & Claims GA Motor Liabilities Fire Marine & Hull Engineering Policy Admin Claim WORK FLOW General Insurance Claim Info. Retrieval of Policy Info Claim No Accident Intimation Date & Time Vehicle (s) Descriptions Claim Responsibility Type Driver Info Claim Parties (Ins Material/Bodily TPM/TPB/Prop damg.) Damage Type Damage Parts Repair Orders Accident Doc. Image Estimated Loss Amt Recoveries Automatic Vouchering Outstanding Settlement Recovery

  19. R E I N S U R A N C E Underwriting & Claims GA Motor Liabilities Fire Marine & Hull Engineering Policy Admin Production (Underwriting) WORK FLOW General Insurance • Marine Sub • Classes • Cargo • Hull • Open Cover • Aviation • Policy Info. • Number • Sub Class • Client • Broker • Validity • Accounts • Property • Risk Type • LC details • Conveyance • descriptions • Prem. • Risk details • Fees • Coverage • Prem. Sum. • Rate • SI • Discounts • Fees • Total Prem. • Certificates • Open/Annual/ • Land Cover • Endorsement Automatic Vouchering

  20. R E I N S U R A N C E Underwriting & Claims GA Motor Liabilities Fire Marine & Hull Engineering Policy Admin Claim WORK FLOW General Insurance • Claim Info. • Retrieval of Policy Info • Claim Number • Accident Intimation Date & Time • Vessel(s) & Property Descriptions • Risk Type • Accident Type • Estimated Recovery Automatic Vouchering Outstanding Settlement Recovery

  21. R E I N S U R A N C E Underwriting & Claims GA Motor Liabilities Fire Marine & Hull Engineering Policy Admin REINSURANCE WORK FLOW General Insurance • Policy Info. • Retrieval of Policy • Info • Premium details • Fac. R/I allocation • RE/In Co. • RE/In % share • Commissions • Rate • Net Premium • Treaty R/I allocation • Treaty number • RE/In % share • RE/In Amt • Retention % Share • Retention Amt • Net Premium • SI Automatic Vouchering

  22. R E I N S U R A N C E Underwriting & Claims Marine & Hull GA Motor Liabilities Fire Engineering Policy Admin Production (Underwriting) WORK FLOW General Insurance • Policy Info. • # • Minor C. • Client • Broker • Lawyer • Surveyor • Validity • Accounts • History • Risk • Risk location • SI • Deductibles • Liability limit • Prem. • Fees • Coverage • Prem. Sum. • Rate • SI • Discounts • Add. Cov. • Fees • Total Prem. Endorse. Add Modify Cancel Renewal Automatic Vouchering

  23. R E I N S U R A N C E Underwriting& Claims Marine & Hull GA Liabilities Motor Fire Engineering Policy Admin Claims WORK FLOW General Insurance • Claim Info. • Retrieval of Policy Info • Claim # • Accident Intimation Date & Time • Cause of Loss • Accident Type • Estimated Recovery Automatic Vouchering Outstanding Settlement

  24. R E I N S U R A N C E Underwriting & Claims Marine & Hull GA Liabilities Motor Fire Engineering Policy Admin REINSURANCE WORK FLOW General Insurance • Policy Info. • Retrieval of Policy • Info • Premium details • Fac. R/I allocation • RE/In Co. • RE/In % share • Commissions • Rate • Net Premium • Treaty R/I allocation • Treaty # • RE/In % share • RE/In Amt • Net Premium • SI • Procedures • ADD • MODIFY • CANCEL • Endorsement Automatic Vouchering

  25. Third Layer Surplus Distribution / TAKAFUL

  26. Surplus Distribution / TAKAFUL R E I N S U R A N C E UNDERWRITING & CLAIMS Architecture Liabilities General Accidents Fire Marine & Hull Engineering Motor DataFlow Integrated Business Layers Policy Admin General Insurance Set Up Accounting Clients Security Core Systems

  27. Surplus Distribution / Takaful Defining Surplus Pools Corporate Pool Class(es) of Business Pool Distribution Methodologies Profit on Prem. % on Claim Profit on net Prem. X Distr. % Prem. X Distr. % X Claim % Prem. – Claim X Distr. % Net Profit T.Prem

  28. Distribution % Revenue Net Profit Expenses T.Prem Surplus Distribution / Takaful • Auto • Calculation • Premiums • Outstanding • Settlements Auto Calculation Of Surplus Automatic Voucher Settlement & Generation Accounts Definition & Mapping Pool Net Profit

  29. Thank You For Your Kind Attention Q&A

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