| Administration and claims support for selected life insurance coverages including Term Life, AD&D, Dependent Life, Optional or Voluntary Life, Franchise AD&D, and Permanent Life, is also part of our full complement of coverage's supported by our flexible software solutions. Offering comprehensive administration and claims features, our life processing capabilities include solutions for group products, voluntary employee benefits, and selected individual contracts, giving you flexibility and control in the management of your life insurance programs.
Administration Capabilities
Our consolidated administration system provides you with total support for enrollment, policy/certificate issue, billing, premium collection and accounting, agent commissions, and detailed reporting. Our Life Administration module can be utilized in conjunction with the administration of other coverage types such as health, disability or long term care products, or as a stand-alone package. Advantages offered by Apex Data Systems' high performance software include: Parameter-driven setup routines that enable you to quickly and easily create plans, which can be based on salary, class, or a fixed benefit. Flat and multi-tier online rating established from user-defined tables using elements such as unit, age, gender, and class, plus composite unit, average, and manual alternatives. A dynamic enrollment structure that allows for base and rider coverages with separate inception and termination dates, premium amounts, and payment transaction records. Flexible billing features including individual direct bill, individual list bill (for payroll deduction), and group bill capabilities (list, self, and summary.) Processing allows for covered spouses, and even other family members, to be billed together or separately. Policyholders can be linked and unlinked quickly and easily. Single billing for multiple coverages, or multiple billings, even with different billing modes. Capture of insured, policyowner, and multiple beneficiaries under primary, secondary, and tertiary levels. Calculation of volume by multiple of salary or percent of salary coupled with user-definable no evidence limits, fixed amounts, voluntary amounts, and case-specific classing. Electronic Funds Transfer features that allow for fully automated Pre-Authorized Checking and Credit Card billing and payments. Rating load and discount factors available for substandard and preferred business. Premium Waiver features allowing for premiums to be temporarily or permanently suspended. Claims Capabilities
Our consolidated claims software allows for seamless claims eligibility and adjudication. All features of Apex Data Systems' claims management system are available when processing life insurance benefits. Global features such as online eligibility verification, pending and correspondence modules, online adjudication by user-defined plan tables, issuance of payments to multiple beneficiaries, detailed claims history, actuarial and lag studies, premium/claims analyses, and other reports are all part of our complete package. Features highlighted for Term Life, AD&D, Voluntary Life, Dependent Life, an Permanent Life processing include: Ability to receive notice of claim and track production statistics while investigation efforts are underway. A correspondence module that gives you the flexibility to establish user-defined letters and follow-ups plus the interval between mailings and automatic tracking of the status of any requests. Features include the ability to set up ticklers for both in-house and out-of-house activities. Capture of date of death or in the case of AD&D, injury date. Capture of cause of death, ICD diagnostic, claim type, claim status, claim termination, and other pertinent, user-definable codes to help you classify claims activity in a meaningful way, and report on experience. Free-form claim comments for diary or other purposes. User-defined claims plan setup including processing by contracted fixed daily benefit amount, a user defined benefit amount, a calculation of benefit as a percentage of salary, or a fixed benefit from the eligibility record, based on salary, class, or user definition. Provision for tax reductions and application of interest. Split payments to multiple beneficiaries. Reinsurance and year-end reporting for generation of critical output and analyses. | |
