Act-isure supports both book and experience rated schemes both for SMEs and large corporate groups.  The ability of an insurer to provide flexibility in product design, benefit structures, pricing and invoicing is a key determinant of success in corporate markets.  For many insurers flexibility brings administration problems, the proposition sold pleasing the client, but producing high administration costs and high error rates.  The Act-isure corporate system provides high levels of flexibility and high levels of automation:

• Processing group business is very different to individual business.  For the client concentrating on corporate business, Act-isure provides optimised screens to facilitate high levels of productivity and customer service
• Act-isure acknowledges and provides for the distinction between ‘large’ and ‘small’ group policies and the different ways in which joiners and leavers and the resultant effect on premiums should be managed.  Pricing can be based precisely on the membership including their join and leave dates with real time amendment to premiums calculated and collected.  A flexible invoicing module means that insurers can choose the periodicity with which premium amendments are collected.  (Simpler but more  flexible member based end of year reconciliation styles of scheme are handled in the Member Management section described elsewhere)
• Each Company may have several employee categories of ‘members’ who all share common benefits.  Employee Categories can map onto employee roles, employee locations, company divisions, countries etc.  Each employee category is a separate policy in its own right.
• Each Category belongs to a Master Policy which unifies Act-isure features such as billing, accounting and pooling.  To simplify premium collection, payment details are captured for the master policy and the costs of any employee/member categories are combined so that only one payment is required
• For larger schemes multiple master policies can be generated which means there is no numerical limit to the number of members that can be insured on a corporate product
• Act-isure Application Services automatically creates Company invoices on a pre-defined schedule - coordinated with the payment method being used.  Invoices show the company and employee/member premiums broken down by category and takes into account the changes to the policy during the period and can be viewed directly within Act-isure and re-printed or emailed if required
• For increased flexibility, the Act-isure Corporate system supports both annual contracts and shorter or longer term contracts and even extensions to existing annual contracts