As Aladdin natively links all insurance-technical, workflow and accounting information on a cover level, it can provide richer information for management decision making.
Actuarial data mining can, for example, answer questions such as "how much profit, after taking account of all reserving, was made on blue BMWs driven by drivers over the age of 27 in Cape Town."
The system allows accounting entries to be posted in multiple regimes to have instant access to financial information according to IFRS, tax or FSB rules. Required information for SAM reporting, for example exposure by postal code, is readily available.
The system features a very strong accounting module which can handle complex transactions such as co-insurance, complex reinsurance structures, non-risk transfer transactions as well as cell captive and risk financing transactions.
Cash flows are also managed on a policy level and a detailed cash flow analysis per policy on all balance sheet accounts is available in order for the insurer to manage its debtors and creditors easily.
Aladdin makes use of a relational database and industry-leading reporting and analysis services, facilitating end-user ad-hoc data mining, customised client reports and easy integration to enterprise data warehouses.
Click on the links below to view details on the features which enable rich business insights: