• Randmark 40
  • Randmark 40
 
Kevod Insurance System
 
KS4 Data Platform

 

Ks4 - Insurance Data Platform Print E-mail

 

 

Ks4 

 


Ks4 is the most advanced insurance data platform available in the world, today. But it's still under contstruction.

 

It is the culmination of lessons learnt from 8 years of prototype development, experience handed over to a new generation of information technology specialists, all of it governed by a fundamentally defined approach. All processes have been decomposed into key, defined activities to describe services needed, at the same time allowing interfacing with industry services.

 

The Ks4 platform represents evolutionary development of a solution to an old problem - converting data to useable information without losing track of the day-to-day running of your business. It does this in slightly unconventional manner.Whereas IT systems have a tendency to mushroom overnight, legal jargon have a much slower rate of change. Your business' IT application might change over time, but Ks4's database remains the only platform defined from a legal perspective, and probably the sole migrateable platform reusable in 15 years from now.

 

Ks4 - today - covers any product perspective, tracks new and lost business, assists the underwriter with unconventional datasets and seamlessly applies contract lifecycle management, claims and dispute processing. To facilitate the future reusability of the platform, KS4 was developed around key functional domains, being client and underwriting management, product and contract management, claims and service provider management.

 

Ks4 is a web based software-as-a-service insurance data platform, that enables easy access to and management of incidents, claims, locations, exposures, policies or other risk related data. Ks4 understands that an entity can have various risks associated with it, risks which may be placed with a variety of carriers, but that the core data of the entity remains the same. It sounds simple, but not many systems understand this basic principle.

 

Ks4 is being built using model driven architecture and state-of-the-art foundational toolsets. It streamlines and enables collaborative end-to-end processes across departments and systems, delivering up to date - realtime - risk management information that enable quick decisionmaking, service and support. 

 

Bak of servers

Insurers' requirements are complied with on a modular basis, allowing a broker the ability to re-assign any book of business (almost) at the figurative ‘press of a button’. ‘Black Box’ integration is embraced, and becomes a very simple set-up. Claims administration will eventually track an insured event way beyond traditional parameters, within what Ks4 calls ‘dispute resolution’.

 

Reports are drawn from an engine that pivotally cubes data in MS Excell; ID no’s are internally verified, thanks to Mead & McGrouther i) vehicle lookups and ii) vehicle validations are incorporated; multiple currency invoicing, resultant bordereaux and remittance advices are easily managed; whilst SMS, email and standard letters are integrated with document management and voice logging, in one simple-to-understand package.

 

Ks4’s ‘policy overview’ is a new addition that would be able to assist potential queries from the Ombudsman’s office, and the system will neatly ensure common-sensical adherence to FICA, FAIS and compliance requirements. It provides a simple, consolidated view of policies and claims. Of course, all of the above are hosted in tandem with all the traditional functions and controls typically required for short-term insurance administration.

 

It ensures a reduced time-to-deployment, coupled with low upfront costs and a lot  less need for scarce IT staff. It saves time, increases back-office productivity and assist with printing and distribution cost management.

 

Ks4 transforms business processes by integrating various lines of business’ core details, enabling a user to:

  • implement effective corporate data governance to meet regulatory compliance reporting,
  • consolidate reporting across business units, territories and customers for a true analysis of business performance and consolidated information,
  • improve core delivery systems to provide customer-centric integrated services, 
  • gain a single repository for entity data via a design that helps to reduce initial training time and costs, 
  • maintain a complete audit trail of 'policy, event and entity changes' that facilitate business monitoring and compliance.

 

Ks4 simply wants to help run your business - keeping track of all of the ‘small’ things - allowing you to do ‘big’ things. Simply put: its the system you'd want your daughter to marry...

 

            

                         

                      

 

 

Kevod Insurance System

Our flagship solution for the intermediaries who manage their own schemes, collect premiums, issue policies and record claims.

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