CustyLife is the best platform to make your employees focus on value added services to customers by allowing insurance company or pension fund to :
Operate simply, efficiently and timely
Reinvent the product offering
Provide the brokers and distribution channel with outstanding service level
Reduce operating expenses and increase competitiveness
Dedicate additional resources and time to quality & compliance procedures
Ease the implementation of your digital transformation journey
Web services and API administration to allow in and out easy connectivity with other internal of external softwares
Encrypted communication and security layers to protect your data from potential intrusion
User descriptive, privileges and access rights administration to ensure necessary and necessary only access to capabilities and data
Transactions queuing, scheduling and monitoring to guaranties full control on operation management and easy recovery in case of error
Product administration allowing an efficient and swift product definition to define product , fees and commission behaviour including advanced life insurance techniques (DAC, spreads, shadow accounting,..) to provide you with excellent time to market capabilities.
Tax Calculation Framework
Tax rules and calculation method definition for every taxable step of the life insurance contract to guarantee that you will always be on top of the different countries tax regulations and provide your customers with an accurate fiscal service
XML based document data content definition providing flexibility to produce new documents. Easily integrable with the majority of document rendering engines.
Operational reporting design tool allowing to benefit from all the accuracy of Custy LIFE’s data to generate on demand reports.
Workflow customisation tool ensuring flexibility on steps and validation rules to help you to fit to your operational rules and constraints.
Cash transfers and cash reconciliation management module that continuously ensure your cash is controlled in a timely manner. This module is also interfaced with workflows to trigger, for example, the activation of an incoming premium, or the payment of a surrenders amount.
Multi-Cie and Multi GAAP
Fully configurable technical auxiliary accounting (policy ledger), directly interfaced with the company general ledger to ensure proper bookkeeping whatever the GAAP and the number of managed companies.
Fees & Commission accounting and payment management
Fees and commissions are immediately accounted in the specific account to provide you and your brokers, an actual view of what is accumulated , what is payable and what was already paid.
Funds and Units Adminitration
Fund Services and NAV Calculation
Automated links with assets managers and custodian banks combined with fund management process to ensure accurate NAV calculation.
Fully configurable regulatory and client personal investments constraints with periodical automated control and rebalancing suggestion to guarantee the investment portfolio is always in line with what it should be.
Trade globalisation and Netting
Complete globalization and netting of daily trades link with a complete automation of the buying and selling process from policies to counterparties including the company box management to reduce operational costs related to trade execution and matching process.
Assets & Liabilities matching
Continuous matching of assets and liabilities to save important amount of reconciliation costs.
Role based management for clients, brokers and other internal and external stakeholders involved in the life of the policy to provide unicity of a third party and a Single 360 view of its activities.
Document elaboration and Dispatch
Any legal or informational document is generated when needed and dispatched following flexible rules to guarantee stakeholders receive information on time and via the adequate media.
KYC & Compliance
Fully configurable regulatory and internal due diligence questionnaire and process to ensure to be always on top of new related obligations.
From policy subscription to Surrender, automation of all policy events including Investment, switches, administrative amendments, redemptions to guide company employees to efficiently manage any contract change.
Tax, fees and Commission
For any type of policy event, necessary taxes, fees or commissions are calculated and properly booked to ensure proper details of every financials are available in the system.