Software specialist PROFIDA expands into Employee Benefits and Group life

Daniel Putra, Managing Director of PROFIDA.

The PROFIDA Team has broadened its footprint in the financial services and insurance sector by adding functionalities for the administration of pension funds and group life policies.

Said Daniel Putra, Managing Director of the PROFIDA Team, “PROFIDA software is used for the underwriting and administration of all lines of short-term, credit life and funeral insurance policies. It was only a question of time before until we were asked to implement at underwriting agencies operating in the employee benefits and group insurance market”.

Although the underwriting and administrating processes of employee benefits and life policies are very different to short-term insurance, PROFIDA facilitates the administration of life and short-term policies on the same platform. In cases where policyholders have a short-term and life policy with the same broker or underwriting management agency (UMA), there is a single, holistic view without duplication.

This capability creates cost-efficiency in licence and training fees, and provides a centralised reporting engine. It also streamlines processes like communication with policyholders via email and SMS messages at different stages of the claims process.

“A customised SMS message is automatically triggered when a claim is registered, followed by messages when the claim is, for example, authorised or settled,” said Mr Putra.

The PROFIDA Team will be exhibiting again at the annual insurance conference, hosted jointly by the Financial Intermediaries Association (FIA), the Insurance Institute of South Africa (IISA) and the South African Insurance Association (SAIA) at Sun City from 26 to 28 July 2015.

The PROFIDA Team is a technology leader in insurance management, policy administration and financial needs analysis software.

Said Mr Putra, “At the PROFIDA stand delegates will have the opportunity to use their own mobile devices, including smart phones, laptops and tablets, to experience how quick it is to access policyholder and broker data within PROFIDA via their already installed web browser without any prior installation or integrations. It’s that easy.”