Best ERP software for Life Insurance companies - VIENNA Advantage

OPEN SOURCE ERP | WEB & CLOUD BASED ERP SOLUTIONS

LIFE INSURANCE COMPANIES THE BEST OPEN SOURCE ERP SOLUTION FOR

Insurance Vertical

Made in Germany

http://www.viennaadvantage.com/

http://www.viennaadvantage.com/erp-crm-overview.php

THE SUCCESS OF A LIFE INSURANCE COMPANY DEPENDS ON FOUR IMPORTANT FUNCTIONS

SUCCESS CYCLE OF FUNCTIONS

2

3

VIENNA Advantage Open Source ERP solution for Insurance Companies | www.viennaadvantage.com

1

4

IDENTIFICATION OF MARKETS

ASSESSMENT OF RISKS

MARKET PENETRATION & EXPLOITATION

CONTROL OF INVESTMENT & OPERATING COSTS

GOALS WHILE SELECTING AN ERP SYSTEM

Should offer all functional features the company need today

Should be able to adapt to the functional features the company might need tomorrow

Should be able to adapt to the specific needs of the company

Should be scalable and reliable under real environment

Should be innovative to adapt to the latest trends and technologies

Should offer a comprehensive set of reporting capabilities

Should be cost effective

Should be open for integration


TODAY’S CHALLENGE


Co

st

Functionality

Business Value

Point Solutions

“The percentage of enterprise IT budget committed to application integration is on average 40% and may rise to as much as 70% in certain situations”. - Aberdeen

Monolithic Application

70%

40%

TODAY’S CHALLENGE


Average Market Growth is slow despite low penetration

Need for new product speed to market

Improve underwriting performance by more intelligence and streamlined process

Improve customer communications

Optimize and innovate distribution management

System consolidation / legacy migrations

Identify Acquisition opportunities


VIENNA ADVANTAGE ERP SOLUTION

OVERVIEW

Based in Germany with offices and partners across the world

Fastest growing open source ERP and CRM worldwide

Decades of experience in ERP and CRM implementations across industries, customer segments, geographies

Comprehensive and leading-edge business solutions to augment your business furtherance

Very professional and efficient approach towards implementation and project execution

OVERVIEW: VIENNA ADVANTAGE ERP SOLUTION



Industry-specific application makes all the difference between average and successful ERP softwareproviders.

VIENNA Advantage provides a number of ready-made industry templates to help you reduce implementation costs and time.

INDUSTRIES SERVED


DOWNLOAD FREE INDUSTRY SPECIFIC ERP BROCHURES

Telecom

Professional Services

Construction and Projects

Discrete Manufacturing

Ecommerce

Textile & Apparels

Wholesale & Distribution

Retail & Supply Chain

E-Governance

Education

We do not stop here!

Our team is working on even more industry -specific solutions that will be available in near future.

Seafood

Healthcare Suppliers

Real Estates

Cooperative Societies for Purchasing

Insurance &Financials

Import -Export

Automotive & Engineering

http://sourceforge.net/projects/erp-crm-advant/files/Other Files/Telecom-Brochure-Industry-Specific-ERP-Solution.pdf/download



































http://www.viennaadvantage.com/erp-crm-industries.php




http://sourceforge.net/projects/erp-crm-advant/files/Other Files/Construction-Industry-Specific-ERP-Solution.pdf/download

http://sourceforge.net/projects/erp-crm-advant/files/Other Files/Textiles-Brochure-Industry-Specific-ERP-Solution.pdf/download

http://sourceforge.net/projects/erp-crm-advant/files/Other Files/Retail-SCM-Brochure-Industry-Specific-ERP-Solution.pdf/download

http://sourceforge.net/projects/erp-crm-advant/files/Other Files/E-Governance-Brochure-Industry-Specific-ERP-Solution.pdf/download

http://sourceforge.net/projects/erp-crm-advant/files/Other Files/Education-Brochure-Industry-Specific-ERP-Solution.pdf/download








The Leader in Business Solutions

Integrated ERP and CRM functionality

Modern Web architecture and UI

Customization without programming

Global-ready features

Choice and value

VIENNA’s Advantages



Complete set of features covering all functional modules

Productivity features

Extendable, flexible, open (web services)

Agile


Deployment platform: Cloud & On-premise

Business Intelligence capabilities

Scalable

Easy deployment

Excellent User Experience

A right mixture of features makes VIENNA Advantage ERP Systemunique:

UNIQUE SET OF ERP FEATURES



COMPLETE BUSINESS SUITE FOR LIFE INSURANCE COMPANIES

OVERVIEW

VIENNA Advantage Open Source ERPwww.viennaadvantage.com

KEY BENEFITS: LIFE INSURANCE SOFTWARE

Process automation via flexible rules & workflow management capabilities

Reduce error-prone manual processes withfast and efficient automation using flexiblerules, workflows and e-form technology thatincreases velocity for arduous administrativetasks.


Flexibility to handle complex multi-product, multi-channel models

VIENNA Advantage Life Insurance softwaresolution is designed to support multiplehierarchies across, channels, products andgeography.

Insurance Platform designed to enable growth

Optimize your strategy with performance analytics tools

The ability to analyze and visualize performance data quicklyand easily can present a monumental advantage to insurers.Our Analytics tool can slice and dice data however you want,generate custom reports when needed (without technicalknowledge), and present them visually with vivid dashboards.

Our Life Insurance solution allows business users to configurethe software to meet their process needs, hence empoweringorganizations to seamlessly achieve their administrative goalswith minimal effort, which allows them to focus onmaximizing productivity.


GENERAL OVERVIEW: LIFE INSURANCE SOFTWARE


Support your business growth and achieve business agility

VIENNA Advantage Life Insurance solutionprovides a fully-configurable, flexible andbusiness-friendly Product Workbench thatwill enable you to hit the market fast andeasy.

Empower your policy distribution with a digitalized environment

Our Solution enables multi-channeldistribution and salesforce management.Agents and customers are able to accessreal-time, accurate data at any time – fromany mobile device – and will facilitate yourconversion to a digitalized environment anddistribution system.

Reduce TCO through operational excellence

Optimizes operations across the entirebusiness lifecycle, through streamlinedand automated processes, workflowmanagement and seamless integrationto all other applications. We provideunique configuration flexibility that willallow you to react quickly and accuratelyto market and regulatory changes.

Go global, go local

VIENNA Advantage Life Insurance solution isdesigned for multi-dimensional and globaloperations, with seamless multi-brand,multi-regulation, multi-currency and multi-language capabilities.

VIENNA Advantage in the Cloud

Our core policy administration suite for thelife insurance market can be deployed onpremises or on a open and flexible cloudservice platform. In this way insurers cannow enjoy all that VIENNA Advantage offers,combined with the advantages of the cloud.

PRODUCTIVITY FEATURES

SECURRITY SCALABILITY CLOUD / ON PREMISES BUSINESS INTELLIGENCE (BI) REPORTING

TECHNICAL FEATURES

APPS MOBILITY SCANNING CHAT

FUNCTIONAL FEATURES (CORE MODULES)

CRM & MARKETING POLICY ADMINISTRATION CLAIM MANAGEMENT FINANCIAL MANAGEMENT &

PREMIUM BILLING PROCUREMENT MANAGEMENT PROJECT MANAGEMENT



COMPLETE BUSINESS SUITE OVERVIEW

ASSET MANAGEMENT DOCUMENT MANAGEMENT SYSTEM MAINTENANCE MANAGEMENT HR & PAYROLL MANAGEMENT MATERIAL MANAGEMENT HELPDESK & SUPPORT TIME & EXPENSE MANAGEMENT

FOLLOW Ups EMAIL SMS CALENDAR

More about: ERP CORE MODULES | ERP PRODUCTIVITY FEATURES | ERP TECHNICAL FEATURES

http://www.viennaadvantage.com/dms-overview.php

http://viennaadvantage.com/erp-crm-core-modules.php

http://www.viennaadvantage.com/erp-crm-features.php

http://www.viennaadvantage.com/erp-crm-features.php


UNIQUE SET OF ERP FEATURES

Business Infrastructure

Operational Infrastructure

Localization Compliance TaxationFinance

RegulationsLanguage

Company specific

requirementsTerminology

Policy Management

Claim Management

Product Management

Sales Management

Helpdesk MarketingAsset

Management

Document Management

Finance ProcurementMaterial

ManagementHR and Payroll

MarketingAsset

Management

Technical Infrastructure

Model Driven Architecture

BPM and Workflow

Screen Composers

Report Writer

SOA MobileCloud

Computing

Insurance Application Integration and Architecture, Business Process BusIntegration & Collaboration


INSURANCE APPLICATION

Applications, Industry Forms, Policy Issuance, Client Communications, andClaims Correspondence

InsuranceCRM

InsuranceRating &

Illustration

New Business & Underwriting

Policy Admin

InsuranceBilling

Insurance Claims

ERP System

Customer Communication Management

Data Exchange between Carriers, Distributors, & Service ProvidersInsurance Data Exchange

Office AutomationGeneral Agency

MDM | Insurance BI Applications | Compliance | Enterprise Risk & Performance Management

Platform Solutions

Database, Data Dictionary, Framework, Workflow, etcTechnology Foundation

Serv

ice

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Tea

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Edu

cati

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, Su

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ort


SOLUTION DRIVERS

KNOWINGTHE BUSINESS

KNOWING THE BENCHMARK

KNOWINGTHE TOOLS

BEINGTHERE


INTEGRATED ERP & CRM FUNCTIONALITY

ERP

WAREHOUSE MANAGEMENT

PURCHASING

GLOBAL FINANCIAL MANAGEMENT

MATERIALS MANAGEMENT ORDER MANAGEMENT

SALES

WEB STORE

SERVICE

CUSTOMER HISTORY

VISUAL DICTIONARY EDITOR DATA DICTIONARY DYNAMIC WEB SERVICE

Performance Management

STANDARD REPORTS BUSINESS VIEW LAYERMANAGEMENT DASHBOARDS

CRM

Model-Driven Application Platform

POLICY ADMINISTRATION


CRM & Marketing

Policy Administration

Claim Management

Financial Management & Premium Billing

Procurement Management

Project Management

Asset Management

Document Management System

Maintenance Management

HR & Payroll Management

Material Management

Helpdesk & Support

Time & Expense Management

Functional ModulesVIENNA Advantage ERP solution

for Insurance Companies


CUSTOMER SERVICE CENTERS

Customer Management (Know your customers)

Customer Segmentation

Customer Acquisition

Information Help Desk Service to Consumers

Customer Portal

Customer Lifecycle Management

Reminders and Alerts

Customer Communication

Marketing and Campaigning

Customer Relationship

ManagementVIENNA Advantage ERP solution



Streamline your marketing operations with greater alignment of your teams and resources

React quickly to market opportunities with real-time market and performance insights

Marketing Collaboration - increase collaboration among internal and external teams

Optimize marketing across channels, customers, and content to drive greater demand and growth

Marketing Planning and Program Management

Marketing Analytics - see real time reports on your campaigns and leads

Marketing

VIENNA Advantage ERP solution for Insurance Companies


Staying ahead of competitors and the constantlychanging regulations requires an effective insurancepolicy administration system featuring software thatis specifically designed to handle the challenges ofthe life insurance market.

Policy Administration

SystemVIENNA Advantage ERP solution


Statistical Reporting

PAS System

of records

Reporting

KEY ELEMENTS OF POLICY ADMINISTRATION SYSTEM


Billing application

Consumer & Billing Database

Recording of Billing and application related Complaints received and their status

Recording of Metering Complaints received and their status

Issue of Duplicate Bills to Consumers

Issue of Consolidated Personal Ledger reports to consumers

Acceptance of Applications

Recording of applications received

Information Help Desk Service to Consumers

Establishment of an internal system for Consumer grievance redressal

Claim Management



Periodic Premium Billing (automated)

Integration with AR

Consumer & Billing Database

Issue of Duplicate Bills to Consumers

Issue of Consolidated Personal Ledger reports to consumers

Reminders and Alerts

Agent Push Notifications

Online collection status

Mobile and Tablet support

Automatic bank reconciliation

Premium Billing



Balance Sheet

Statement of Income

Cash-flow Statement

Statement of Owners’ equity

Cashbook

Bank Statement

Accounts receivable

Accounts Payable

Daily, weekly, monthly, quarterly and annual financial statements

Taxation & Statutory Compliance

General Ledger

Fixed Asset Management

Payroll

Budgets & Deviations

Material Management

HR, Time & Attendance

Facility Management


Financial Management


FINANCIAL ACCOUNTING SYSTEM


Procure as per material rules at warehouse, manufacturing & product levels

Automate the entire procurement cycle; from Tender / Requisition to Payment or choose to run through the entire process manually

Automatic Quotation Comparison

Generate purchase orders based on requirements

Match purchase orders, receipts and invoices

Integrated with an extensive accounting system

Vendor Performance Management features helps you establish a stable and reliable vendor base

Maintain profitable supplier relationships

Manage price changes

Establish strong objectives to ensure suppliers’ accountability

Control / Reduce cost of purchase

Demonstrate that the savings on efficient purchasing improve the bottom line of the company, through effective reporting

ProcurementManagement



Project Type

Project

Project (Lines / Issues)

Project ReportingIssue to Project

Generate PO from project

Project Cycle Report

Project Detail Accounting Report

Project Line Detail Report

Project Lines not Issued Report

Project Margin (Work Order) Report

Project Management



FIXED ASSETS

Acquisition, Depreciation & Disposal

Asset Management and Maintenance

Asset types / classification

Asset Insurance

Asset Group

Delivery of Assets

Customer Assets Report

Asset Delivery Details Report

Asset Delivery Month Report

Fixed Asset Depreciation Module (Supports Multiple Depreciation Methods)

Asset Management



Document Management

System

The first ever Document Management System to be securely integrated with ERP and CRM

Enterprise Level Workflow & Business Process Management

Highly scalable, supports millions of documents

Unique and innovative search engine, supports content and meta data search

Document import from its scanning application, email inbox, web services and mobile upload

Automatic upload from Google Drive, Dropbox and Skydrive

Regular indexing and routing of documents

Optical Character Recognition (OCR) supports more than 25 languages

Highly secure encryption of documents and role based access

User Dashboard, Inbox, Reporting capabilities

Allows collaboration by sharing documents

Inbuilt document viewers for various file formats VIENNA Advantage ERP solution



ASSET MAINTENANCE

Capture asset maintenance contract details

Capture asset maintenance history

Capture list of problems encountered and resolution details

Capture details of external parties responsible for asset maintenance

Capture preventive maintenance schedule for each asset




HUMAN RESOURCE MANAGEMENT

Employee Master Data Management

Employee Transactions Management

Employee Relationship Management

All formats and reports

Flexible payroll structure

All standard processes

Integrates workflow and approvals

Integration to Attendance devices

PERFORMANCE EVALUATION

Ensure mutual feedback through open and honest communication

Meet objective criteria in terms of salaries and career development

Identify training needs.

HR & PayrollManagement



Configurable replenish rules and alerts help avoid out-of-stock situations and consequent loss of sales

Setting up optimum stock levels and purchasing rules helps avoid locking-in money on excess stock

Real-time storage details at multiple warehouses help you keep track of your stock position

Maintain accurate inventory in order to schedule purchases & production

Identify stock issues before it is too late

The tightly integrated Order Management module ensures that the right product is delivered to the customer, on time

Simplify re-ordering process and reduce cost of purchases

Eliminate pilferage and consequent losses

Manage multiple warehouses with ease

Reduce warehouse operating costs

Simplify stock-take and end-of-year processes

Buffer against uncertainty

Material Management



HELPDESK & SUPPORT MANAGEMENT

Various channels for support tickets

Track time and material on requests

Track request status

Intimate customers on email, SMS, web

Internal assignment and optimization

Multiple escalation levels

Workflow

Linkage to orders, projects, invoices or any other references

Helpdesk & Support



Expense Type

Resource Type

Resource

Time Type

Expense Product

Expense Report

Expenses (not reimbursed)

Expense (to be invoiced)

Create Sales Orders from Expense

Create AP Invoices from Expense

Time & Expense

ManagementVIENNA Advantage ERP solution



Model-driven Application Platform

Customization without Programming

Global-ready Applications

Other Advantages

Technical FeaturesVIENNA Advantage ERP solution



Business logic stored in applications dictionary not hard-coded into programs

Customize business logic and user interaction without programming

Customizations remain in place, even through software upgrades

• Screens• Reports• Processes• Database Structure• Business Logic

Applications Dictionary

• Presentation Management• Role & Data Security• Workflow Control• Multi-tenancy• Multi-lingual• Transaction integrity• Database Independence

Transaction Engine User Interface

Client Server UI

HTML UI

Reports & Processes

Transaction Database

Model-driven Application

Platform


Customization without

Programming

CONFIGURE AND EXTEND VIENNA WITHOUT PROGRAMMING

Add new fields and tables

Change window layout

Change field names

Default values by user

Dynamically hide fields

Set security at the row/field

level

Add new windows

Create entirely new Applications


Global-ready Applications

Fully internationalized

Localizations isolated from code

Partners deliver translated and localized

solutions in over 16 languages

Out-of-the-box support for multiple

Business units

Accounting standards

Tax laws

Currencies


Other Advantages

User Management

Role

Security

Portal (optional)

Documentation

Training

76543


IMPLEMENTATION APPROACH

21

Business Analysis

Benchmarking & Solution

Design

Localization Standards

Build and Test

Training and UAT

Roll Out Support

A perfect mixture between global standards of software and implementation paired with the local know how, support and availability

Merge between European technological advancement and pioneering approach of local technological know how

Availability of resources at any time and any where

No risk of being cut off


Right Mixture (Local & Global)

Process Optimization and improvement

Integration of departments and processes in a holistic view

Identification of cost saving potentials

Benefits for the customer


Integrated and ad-hoc reporting for quick decision making

Workflow and Approval automation

Low total cost of ownership

Services to each module consists of:

Extraordinary Services

Business Analysis

Solution Design

Configuration Management

Workflow Designs

Documentation

Quality Assurance

Training


GO Live Support

Post GO Live Support

Maintenance

Sustainability Long term viability for the implemented solution

Always upgradable through new technological and process improvements in the insurance industry

Scalable solution also covering future needs

Flexibility and extendibility of the solution ensures long term viability

Self dependency instead of Vendor Lock in


Why choose VIENNA Advantage?

Comprehensive solution at a fraction of the cost

Global, integrated, enterprise-ready functionality

No up-front license fee, lower deployment & maintenance costs

“Dynamic Applications” adapt to your business

Revolutionary design enables rapid customization – without programming

Automated upgrades keep solution up to date over time


Modern, web-based technology

Interactive web user interface accessible from any web browser

Standards-based, service oriented architecture enables integration

Freedom and control

Access to application source code

Manage as much or as little of the implementation as you choose

Choice of operating system, database, web browser, and service provider

Why choose VIENNA Advantage?


Globally Operating Organizations

Cloud Computing

Connect with customers and suppliers

Get better business insight

Increase Productivity

Manage your organization’s growth

Financial accountability and compliance

Reduce IT costs

Effectively respond to changing markets

Fulfilling following business needs


www.viennaadvantage.com

[email protected]

Connect with us

VIENNA Advantage Bloghttp://viennaadvantage.com/blog/

Germany

Address:

VIENNA AdvantageBohlenskamp 21, 26340 Zetel

Phone:

+49-621-307-80370

United States

Address:

VIENNA Advantage2372 Morse Avenue Suite #418Irvine, CA 92614

Phone:

1-949-325-0615

India

Address:

VIENNA Solutions#493 Phase-9, Industrial AreaMohali, PB 160062

Phone:

+91-172-5090-860

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Best ERP software for Life Insurance companies - VIENNA Advantage

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