Websoft Maven is a full service insurance insourcing company in SA and, with the recent support agreement concluded between the company and Software Solution Partners in the UK, is a pre-eminent partner for broker companies and individuals to connect with locally and internationally.
For 25 years, the company - a merger between Websoft and Maven Technologies - has provided global-quality insurance software and service solutions to the insurance industry. Their teams of professionals deliver state-of the-art proprietary products, customised software and effective back-room services; provide key drivers enhanced business efficiency and facilitate increased profitability and growth.
Websoft Maven`s commitment to service excellence, and dedication to business with a customer-focused approach, ensures that world-class solutions are delivered. Currently, it has in excess of 300 intermediaries and brokers as clients in southern Africa alone.
Websoft Maven offers a bureau solution with a range of services to suit the requirements of brokers, utilising the INSight management system. This system enables the company to provide tailored solutions to brokers, and the company`s industry-trained staff has skills to assist brokers with all their requirements. Accurate and reconciled statements are delivered every month, and all correspondence can be e-mailed or faxed to clients directly on a broker`s behalf.
Websoft Maven`s software products are of world-class standard, gaining the company recognition as an international insurance solution provider. The combination of local development and local skills eliminates the impact of unfavourable exchange rates and makes Websoft Maven competitive. Focusing on the insurance and related sectors has led to the development of important relationships with major companies, industrial bodies and key role-players.
INSight, an invaluable tool for the insurance industry
INSight has been developed by Websoft Maven to cater for the needs of the short-term broker and is an integrated back-office application system suited to accommodate present and future requirements of brokers. Compliance is a major factor in its development. Management information is essential in the control of business and, while the INSight system automatically provides standard reports, the tools available with the product enables individual data analysis.
A central database gives the broker the ability to standardise and control their portfolio, as the system is rule-based and enforces underwriting criteria along with auto-rating. Broker branches and individual brokers have the facility to login and only see their own clients; all data capture carried out by them can be checked via an audit trail. One of the main benefits to broker companies is that INSight enables them to upgrade to the latest software technology without the huge costs normally associated with this kind of exercise. The INSight option is negotiated with insurers to provide them with products where the following criteria apply:
* There is no cost to the broker;
* No manual rating is allowed;
* Only the insurers` standard rates apply;
* There is no automatic conversion of policies;
* The insurers` underwriting criteria is built into the system and will be adhered to;
* A maximum policy charge or policy fee is imposed, to be decided in conjunction with the broker; and
* Only brokers who can connect to Websoft Maven`s Internet-based system are considered. The size of broker is not important, as statistics produced are at insurer-level.
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