XML Policy Data Load (The Hub)

This release of Fintechnix (FTX) OneOffice provides our customers with the ability to process Life Insurance applications supplied either as a real time XML feed or via a XML formatted flat file.

This is an extensive interface (hub) that enables applications at any stage of completion (even just a quote!) to be loaded into the Fintechnix data repository. This means that insurance producers can accept applications from a wide range of distribution channels, apply a centralised and consistent set of product rules and process these applications in an efficient and timely manner. Further, it provides a facility to "unload" these applications or policies to send to another third-party administration platforms or adviser CRMs. We believe it is the industry's first fully functional policy hub!

This new functionality allows for six options (stages) for processing the data contained in the XML structure:

• Stage 1 - receive details for a single application and return premium calculation results as an XML stream (storing the quote details in FTX OneOffice)
• Stage 2 - receive application details and store in FTX OneOffice as 'open' status applications
• Stage 3 - receive application details and store in FTX OneOffice as 'Completed' applications (performing all validation)
• Stage 4 - receive application details; store in FTX OneOffice as 'Transferred' applications (performing all validation) and generate an 'In Proposal' life insurance policy for each application
• Stage 5 - receive application details; store in FTX OneOffice as 'Transferred' applications (performing all validation); generate an 'In Proposal' life insurance policy for each application and issue the life insurance policy, generating all client correspondence - i.e. put the policy in force (true straight through processing)
• Stage 6 - Completed application details stored (if all validation is successful) and application details returned as an XML stream suitable for a non-FTX back-office platform (e.g. CLOAS, LIFE400, ALIS etc)

White Branding

This release of FTX OneOffice provides our customers with the ability to white brand new and existing Life Insurance products defined in FTX OneOffice.

This new functionality:

• Allows the business to define an unlimited number of application sources (e.g. external Dealer groups) and to indicate which Life Insurance products are to be made available to each application source - affecting both new and existing products.
• Allows existing Life Insurance products to be re-badged (in name) for individual application sources.
• Allows existing Life Insurance products to be re-priced for individual application sources.
• Allows the application capture for existing Life Insurance products to vary for individual application sources - e.g. limiting available benefits and / or defining the set of underwriting questions.
• Allows the format (branding) and content of customer correspondence to vary for individual application sources.
• Allows the sale of Life Insurance products to be tracked through the General Ledger, by application source.

Premium Illustrations

This release of FTX OneOffice provides for a more comprehensive Life Insurance premium quote illustration facility for single and joint life applications:

This new function:

• Allows for both summary and detail costs (i.e. total application cost as well as costs for each benefit).
• The number of years of projected costs is configurable by the business.
• Illustration is available as both a back-office function and a web service that can be accessed from the customers existing web presence.

Our powerful and proven platform has evolved to provide the link between back office capabilities and front office and servicing functions.

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