Enterprise Edition is a dynamic and robust model, where it inherits all the features of Premium Edition and also contains special features:
What is special in Enterprise Edition?
This edition will cater the needs of online transaction processing of New Business, Renewal Business, Claims and other activities. ReNova adopts Service Oriented Architecture (SOA) for processing the transactions online.
This is an easy plug-in to your existing system. An SOA call is passed on to ReNova for its response right from proposal registration stage to renewal business processing. ReNova responds to the calls and creates cessions online. For renewal business it passes on the calls to your system and gets renewal status of the policies that are due for the process interval.
In other sense Accounting is done online and you can ascertain the liability at any point of time.
However, a little customization in your existing system is required if you would like to configure ReNova tightly to your system.
It ensure the save processing of the transactions and logs all the failures on either side of the platforms.
The Treaty Rules Engine will respond to the calls online and
evaluates the policies for cession eligibility, considering optimization of reinsurance.
Even you can automate claim processing with this edition. As and when a claim is registered with your office, ReNova responds and creates provision for claims and tracks till the settlement with reinsurer.
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