ACCOUNTING AND INSURANCE SYSTEMS IMPLEMENTATIONS
Effective systems implementations require an understanding of:
- Accounting and reconciliation processes
- Financial and management information requirements particularly important to the insurance or service industry
- Systems development processes including communication with technical personnel, appropriate testing processes, documentation and training activities.
- Data element review, validation and cleansing
GaP RESOURCES personnel can dedicate time to a project without being distracted with ongoing operational responsibilities. Our consultants can utilize multiple disciplines to complete several aspects of a smaller implementation (i.e., testing and accounting reconciliations) so the project can be completed more efficiently and effectively. We are also able to integrate into a larger project team working within a more structured systems development process. A sample of our implementation projects includes:
Freedom Claim and Premium Reinsurance System Implementation, 2001 and 2002 - GaP RESOURCES carried out all aspects of this system implementation. Specific activities included coding of the treaties within the system, testing claim and premium cessions, running cessions to create historical data, reconciling ceded detail and accounts receivable between the new system and the prior manual reports and bordereaus, coordinating with the client's information systems department to develop applicable data extracts, building the job schedule for production, and developing policies and procedures.
Interfacing Claim Data from TPAs into an integrated Property Casualty Insurance System (Mayfare Software), 2000 and 2002 - TPA claim data entry was automated through GaP RESOURCES project management, specification design, testing and process design. This interface saved several man weeks per month of manual entry time with more accurate and timely reporting. Follow up account reconciliations were designed and implemented. After successfully implementing one claim interface in 2000, client personnel enlisted GaP RESOURCES to complete another claim interface in 2002.
Interfacing Premium Data to an integrated Property Casualty Insurance System (Mayfare Software), 2000 through 2002 - Premium data from TPAs, MGAs and agents received in a variety of formats is translated into multiple records required for the interface into this clients property casualty insurance system. GaP RESOURCES provides both the functional specifications and the technical programming, as well as coordinates directly with the providers of the data. Premium balancing and accompanying accounts receivable accounting processes and reconciliations were designed. More than eight interfaces have been designed and implemented in the past two years.
Technical Implementation Management and User Workflow Design of a Distributed Underwriting System, 2002 - GaP Resources personnel assessed network and database strengths and limitations to implement a distributed underwriting system. Technical understanding of Access and Sequel was utilized to solve this problem and appropriate documentation of the implementation procedures was developed. Accompanying underwriting workflow and related processes finalized and documented.
Freedom Investment Accounting System Implementation, 1999 - This new system required implementation within a tight deadline for business and Y2K requirements. GaP RESOURCES personnel utilized electronic files from the investment custodians to process and reconcile all 1999 in parallel, design system reporting, develop operations procedures, and train a new investment accountant within the time frames needed for annual statement reporting.
Premium Reinsurance System Implementation, 1998 - This engagement with a property and casualty insurer focused on premium reinsurance processes and expanded to improve the recording of both direct premium and reinsurance accounting information. GaP RESOURCES reduced the time required to calculate and record direct premium and reinsurance accounting information by five times in both number of days to close and man hours to complete. This project included the accounting interpretation of the treaties; systems assessment, testing and implementation; submission and resolution of overdue true-ups with reinsurers; and related account reconciliations.