The GENIISYS Success Academy continues to equip users with the knowledge and tools needed to maximize the software’s full potential. Through a series of quarterly, expert-led webinars, users gain valuable insights into fully utilizing GENIISYS’ features and capabilities.
On December 11, 2024, CPI hosted the third session of the GENIISYS Success Academy Webinar Series, focusing on two key functions within the Claims Module— Motor Claims Evaluation and Excess of Loss (XOL). Led by Mylene Terrante, Head of the GENIISYS Claims Team, the session aimed to help users maximize these features for more efficient claims processing.
Motor Claims Evaluation for Accurate Claims Processing
This feature provides users provides users with detailed information on the history of similar claims to enable them to assess the reasonableness of repair quotations from motor shops by comparing them with similar quotations in the past. Once finalized, approved repairs can than go through the GENIISYS Claims Module streamlined processes that trigger payment requests and generate the different types of claims payments. The Claims module also empowers users with facilities to track claims history, generate the necessary letters, LOA and other reports. It is integrated to Underwriting and Accounting modules to provide a seamless end-to-end workflow.
Seamless Management of Excess of Loss (XOL) Coverage
This is a flexible and user-friendly facility for users to track and manage claims XOL. This facility can handle various types of claims types and provides data analysis and reporting tools to allow users to view details on catastrophe claims, outstanding losses, and payments. Additionally, the XOL feature generates the required accounting entries for XOL transactions and integrates reserve and settlement distributions. The XOL facility updates balances in real-time, ensuring accuracy, efficiency, and transparency throughout the process.
