Insurance Brokers Software


The following is a list of MTSInsurance Software features and benefits: -

  • UNLIMITED Clients data management .i.e. names, address, city, telephone, remarks, file no, occupation, opening balances etc.
  • UNLIMITED Insurers i.e. names, address, telephone, email, contact person.
  • UNLIMITED cover types e.g. All Risks, Burglary, Third Party Only, Comprehensive….
  • UNLIMITED Classes, each with standard commission and with-holding taxes percentages.
  • UNLIMITED Users. Support for network environment where different users access different modules e.g. cashier, manager, underwriter, auditor etc
  • Tracking of Expiring Policies i.e. automatically gives a 30 day notice alarm before a cover expires. Each time a user logs into the system, a list of all covers expiring in that month and those 30 day notice period is due, appears on the screen. Has option of automatically generating renewal notices.
  • Debtors Ageing Balances. Debtor balances report showing debt in age categories (0-30, 31-60, 61-90, and over 90 days)
  • Customer Statements. Shows a chronological list of transactions, ordered from earliest to latest, within a specified duration of time.
  • Debit Notes. Each cover is assigned a debit number. At the same time, each debit will also carry the total amount payable to the insurer less brokerage commission. Hence posting a debit note will in effect, debit the client account and also credit the insurer account with the amount payable to insurer.
  • Printing of Debit Notes and Renewal Notices. Summary of information contained in the debit note. See attached snap shots.
  • Policy Summary: Shows a list of running covers for a specific client, showing each policy, class, sum insured, insured items e.g. vehicle, buildings etc and current balance per debit note.
  • Renewal Summaries. It displays a month by month list of policies which have expired and were renewed verses those which were not renewed. So that the underwriting department can isolate the policies that were not renewed and trace why they were not renewed.
  • Creditor Ageing Balances. Shows the broker’s credit with each insurer plus a breakdown of the credit based on age categories (0-30 days, 31-60 days, 61-90 days).
  • Creditor statements. You can view and print a simplified or detailed creditor statement which you can counter check with the statement issued by the insurer.
  • Journal Vouchers and General Ledgers. Used to correct anomalies in transactions or record miscellaneous incomes or expenses.
  • Claims Management. Track every claim information, claimant and progress report.
  • Point of sale issuing of receipts. See attached snap shots.
  • Credit Notes. Used in cases where the client pays directly to insurer, or there is cancellation of the cover or writing off small debts.
  • Banking and Bank Statements. The system has a chart of accounts, where each account created, whether cash or bank has an account statement.
  • Commission Analysis. Automatic tracking of commission for every transaction based on commission setup in classes list. we can also analyze which insurers and which classes have given us more commission over a specified period of time.
  • Production Reports. Analysis of transactions which have taken place within a specified duration. So one can know the total amount of premium debited during a specified period.
  • Production Comparison. Comparison of business performance between current period and a similar period last year.
  • Profit and Loss Accounts. Profitability of the company within a specified duration.
  • Business Summary Report. Is a date wise report showing date against value of new business, renewals, total business, office collection (cash), office collection (cheques), Total Collection, expenses, commission, with-holding tax, net commission.
  • Trial Balance.
  • Standard and Working Capital Balance Sheet.
  • Tracking of Bounced cheques. Both issued to creditors/suppliers and received from clients and other customers. This would allow one to predict a cash flow problem.
  • Audit Trail. Tracking of all changes to information in the system e.g. additions, editing, deleting and printing of reports by users.
  • User Administrator. Allows you to customize the permissions that each user will have while accessing the system. This means, you can have several people working in the system and each person having access to specific modules and denied access to other modules.
  • Audit Trail. Is a report showing all user activities in the system. Hence allows a forensic audit of user actions incase you want to know who posted, edited or deleted which information.
  • Lots of other reports as will be shown during the demonstration.

In addition, we shall customize your software for the first 6 months of installation free of charge to ensure the latest business requirements have been taken into account and your staffs do enjoy using the software for their day to day activities.