An added feature of the system is its international capability. With a simple switch, the system can switch from a domestic system with a single currency to an international system with full multi currency functionality. This makes Act-isure the system of choice for international PMI providers and any client wishing to transact business in multiple currencies and/or markets:
- In international mode, Act-isure can, for example, produce quotes in one currency, receive payment in another currency, account for policies in a third currency and report in yet another. Within the system, different products can be defined to operate in different currencies allowing a single Act-isure application to operate in multiple locations.
- In conjunction with multi currency capabilities, Act-isure provides support for international taxes that apply in different countries. These are user defined and as with other areas of the system, are completely flexible as to when they are applied and to whom. Act-isure can appliy EU rules for the appropriate allocation of tax on company schemes with beneficiaries in multiple tax domiciles.
- Claims payments can be made in any currency and sophisticated rules established to identify banking arrangements for currencies with no related bank account allowing the automatic selection of the most effective payment method for the payment of a particulat provider