COBRA
A Commercial combined Insurance Package.
English
Supported Technologies
AIX,
SCO UNIX/PC UNIX,
Windows 95/98/ME,
Windows XP/2000/NT
Software, Web-Based (Browser)
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Pricing
Users (# of seats)
sales@citycomputers.co.uk
020 7231 5555
Additional Product Information
COBRA is an on-line, real time data capture, update and enquiry system. It is a tried and tested system which has been continuously enhanced to take account of the changing requirements of the Insurance Market. It has recently been enhanced to cater for:- , Multi Currency , Multi National Risks, From its inception, COBRA was designed to be user-friendly and easy to use. This has manifested itself in practice in very short learning times and easy acceptance of the system by users. All this has been achieved by:- , Designing the system to follow the natural flow of underwriting input. , Making the system menu-driven with specific menus for each departmental function. , Ensuring each class and type of business has its own screen with no redundant fields. , Providing Help facilities where required behind every input field. , System Summary , Full multi currency and multi national risks , Supports the basic types of commercial policy: Single, Commercial Combined, Packages, Schemes. , Supports 20 classes of commercial lines business. , Services each individual risk from quotation through documentation, alterations & endorsements, to renewals, claims, reserve handling & full reporting. , Combined Policies - COBRA produces a single policy schedule with a single premium, with premium splitting for the appropriate reports. It allows additions to the policy at any time during the year, while permitting the maintenance of a single expiry date for all sections. , Renewals - Policies can be individually or automatically renewed with the ability to manually intervene in the renewal cycle. Renewals are automatically diarised. , Table Files - COBRA is driven by easily created & amended user-defined tables. , Reinsurance - Table-driven automatic reinsurance facilities at risk level - whether through facultative, surplus treaty or excess of loss. , Diary & Message System - COBRA has a full diary & message system. Diary entries may be made manually or be generated automatically by COBRA. , Claims - Full claims servicing from initial notification through to payments, receipts & adjustment of reserves. , Accounting - There are full accounting and financial procedures. Automatic posting to the appropriate ledgers, statistical and DTI files, with real time reconciliation and reporting facilities. Multi currency , On-line, Real Time - COBRA is designed to be on-line and real time to ensure that up to date information is available to users all the time. , System Overview, COBRA supports all four basic types of commercial line policies, namely: , Single Policies , Commercial Combined Policies , Packages , Schemes , Single Policies: COBRA is designed and programmed to handle 18 classes of commercial line business., Property , Theft , Business Interruption , Book Debts , Glass , All Risks , Money , Goods in Transit , Employer's Liability , Public Liability Product Liability , Deterioration of Food Fidelity , Loss of License/Contingency , Personal Accident , Contract Works & Liability , Excess of Loss , Engineering , Contingency , Non standard , Each risk is serviced from quotation to policy documentation, schedules, calculation of premiums with mid-term alterations, endorsements and full claims handling - inclusive of reserves. COBRA generates accounting entries with automatic posting to Brokers ledgers, direct debiting, statistics, DTI and auto-reinsurance calculations. , Commercial Combined Policies: COBRA provides a totally integrated one policy facility. One premium is accounted to the Broker or the client, while the system internally calculates the premium per section, from which statistics, revenue accounts and DTI returns are produced. , The system allows for any section to be added to the policy at any time during the year and for all sections to expire on the same day, automatically generating the appropriate endorsements and producing the applicable APs or RPs. COBRA can handle any variations to the company's standard wording, excess or perils., Package Policies: A purpose-designed system is provided within COBRA to service Packages to enable changes to be carried out easily to match the client's own Package terms and conditions. , COBRA currently supports:, Pubs , Hotels , Shops , Offices , Surgeries , Flats , Additional packages can be added with minimum effort. , Schemes: COBRA can service single policies, commercial policies and package policies under scheme arrangements. The terms of any scheme are fully integrated within the system to ensure efficient servicing of schemes. , COBRA was designed mainly by users and qualifies as the most advanced and user-friendly system of its kind on the market. , For example, as the cursor moves around on screen, each field is highlighted and the "Help" facility at every input field is particularly useful, displaying both instructions and table files., Table Files , Table files are provided within the system with an on- line input, amend and enquiry facility providing total independence from the computer personnel in the use of the system., The table files contain control data relating to: , Adjusters, Authorisers, Brokers , Brokers' Credit Limits, Brokers/Consultants , Branch Numbers , Cause of Loss, Catastrophe Codes, Class Handlers, Class Statistics , DTI Codes , Form Numbers, Insured Item Types, Memo Phrases (Claims) , Operators/Users, Perils, Policy Adjustments , Policy Types, Table Files - COBRA is driven by easily created & amended user-defined tables., Rating Class & Codes , Reinsurance Terms , Schemes, Standard Endorsements, Transaction Types (Claims), Underwriters , Word Processor , The word processor system has been integrated within COBRA to provide simple and direct access to non-standard endorsements, letters and memos which can be generated easily. , Diary and Message System , A full diary and message system is provided within COBRA and can be operated on a stand-alone basis. It can also be activated from data input screens such as the claims input screen, if the Claims department finds it necessary to inform, say, the Underwriter or the Accountant of a large claims amount. The system will automatically send a message and place it in the appropriate mail-box to be viewed by the addressee. This sub-system is also used if the relevant files have been set up to send an automated message to the chief underwriter. This message may be generated by the system if certain events have taken place, e.g. a breach of the surplus quota share contract rules. , Utilities , As the system operates an open system platform, COBRA can be integrated to use other facilities e.g., Office Automation (paperless office) , Telex and Fax , Quotations , COBRA records all quotations made by the company's underwriters with brief information regarding the sections covered, convertible to policies, provisional or final. A rapid search facility is provided and reports are produced to avoid duplicate quotations by other underwriters or branches. , The system recognises that not all information may be available when a quotation is first given. It will produce basic quotations from the minimum of information e.g. Branch, Name of Insured, Broker Number, Estimated Premium etc. Since COBRA is a real-time, on-line system, all quotations are available for enquiry from the moment of entry. The system splits quotations into three classes: Accepted, Declined and Not Taken Up., The system can perform automatic rating, but allows the rating to be manually overridden. Endorsements can be made on a current or backdated basis. Changes which take effect from a date in the past can be made to the policy: the system will alter the data on the policy to reflect this., Information gathered at the time of quotation is used by the system to fill out the policy screens when the quotation progresses to the policy stage. If, after a set period, quotations have not been taken up, the system automatically sets the status to "NTU"., New Business, Basically three types of screen are provided in the system - Policy and Insured Details, Location of Insured Risks and Items Insured. From these screens, the system generates the policy wording and schedules, and updates accounting and statistical files., Policy documents are laser-printed using a library of wordings held on the system. The result is an automatically-produced document of presentation quality. , Endorsements and Mid-term Alterations , Where an alteration requires other implicit amendments, COBRA carries out the implicit amendments automatically (including premium calculations), updating financial records and printing endorsements., COBRA caters for three types of endorsement: , Notes only: These concern changes in policy information e.g. diary dates, underwriter notes, which do not affect the premium charged or printed schedule. These fields may be overwritten and no history is kept. , Non-premium: These affect the Insured's information e.g. Insured Address, Business Description and do not affect the premium charged. This information is stored by the system with an effective date. Revised Schedules may be produced., Premium: For premiums affecting endorsements e.g. change in Sum Insured, an alteration is made from an effective date and the policy is rerouted. If reinsurance applies to the policy, this is automatically recalculated. The revised premium could result in an AP or RP. The Underwriter can accept the calculated premium change, amend or adjust AP/RP, or reduce the change to zero., Policy History , COBRA provides Underwriters and Claims personnel with a complete breakdown of all activities carried out on a policy over its entire period of cover. It is possible to view total premiums and total claims (paid and reserves) to date for the policy as a whole or by individual sections. Enquiries can be made down to individual premiums and claim transactions. Any policy schedule, wording or endorsement sent to a broker or client can also be viewed on-line, reducing or eliminating the need to maintain hard copy filing systems., A policy can be viewed as at any given date throughout its life, thus saving a great deal of time when answering enquiries relating to policy history., Premium Calculation, COBRA calculates premiums using table file or manually entered rates. After allowing for loadings and discounts, the calculated premium, whether per section or for the policy as a whole, can be amended by the Underwriter to the agreed or quoted premium. , Cancellations/Reinstatements , For policies cancelled in part or in whole, at any time during their period of cover, COBRA automatically calculates any resulting premium changes and updates the policy status. Any cancelled policy can be reinstated and the system will calculate any premium adjustment., Reinsurance , COBRA provides for full reinsurance, servicing at individual risk level, either through Facultative or Surplus Treaty arrangements. Surplus Treaties are automatically calculated from previously entered table files, with an option for the Underwriter to overrule the computer calculation, if required. , The system also caters for Excess of Loss protection. Reinsurances can be arranged at policy level and also at individual section or risk location level within a policy. COBRA will automatically calculate the relevant premiums and mid-term alterations, as well as claim recoveries. All relevant ledgers, statistics and DTI files are automatically updated at every level. , Within COBRA, reinsurance is handled in the following ways: , Quota Share/Surplus, Proportions ceded to Treaty R/I can be based on Target Location exposure, or per individual insured location within a risk. Retained and ceded proportions are automatically calculated according to Company rules depending on risk class/quality. The underwriter has the flexibility to amend the calculated proportions, as required, and variations to Company rules are reported on-line to the chief Underwriter for confirmation or action. , Facultative, If facultative R/I is required for a specific policy, this is indicated on the original policy reinsurance screen and a facultative master record is then completed giving full cover and accounting details. Premium and claims transactions are then entered against this master record. , X/L Account/Cat Protection, As with facultative reinsurance, a reinsurance master record is set up with details such as limits, M & D premium and adjustable rate, according to incoming premium totals. , Renewals, COBRA's renewal subsystem is designed to be fully automatic, but allow manual intervention at any level depending on the client's requirements and class of business. Policies are automatically suspended when manual intervention takes place. The system allows for index-linking and rerating, together with automatic recalculation of reinsurance to cater for changes in contract terms. The system produces a warning of renewal, three months before it is due. Thereafter COBRA monitors policies throughout their renewal cycle, with any new claims reported instantly to the underwriter via the message/diary system., The system automatically produces renewal notices, EL certificates, revised schedules of cover with summaries by individual broker. The system also produces renewal listings, exception reports and listings to back overdue and outstanding renewals., Renewal take-up statistics are produced at Company, Branch, Broker, Consultant and individual Broker level. , Claims, Claims modules are totally integrated with COBRA to provide and service all types of activities from first claims advice through to reserving, changes and settlement. The claims system also updates, and can be accessed from, the policy enquiry screens. Payments of claims are entered via the claims system, which may reduce reserves. On completion of the data entry, all relevant files, such as Statistics, Revenue, DTI are updated. Payment of claims can be made by computer-produced cheques, plus a covering letter, and by manually issued cheques. A claims history and audit trail is maintained by the system, which can be viewed on-line. , A policy enquiry from within the Claims system automatically displays the policy status as at date of loss, with the ability to display as at any date that may be required. , Standard memos, letters, and integral message and diary systems can be activated at point of input by the Claims department. Full statistical and monitoring reports are produced, both on-line and on a periodic basis. , Accounting, COBRA incorporates full accounting and financial modules, offering full multi-currency. COBRA posts transactions automatically from the policy records to accounts and Broker ledgers. , The system also provides advanced on-line reconciliation facilities, with ledgers produced on a periodic basis and on request., A full history enquiry is available on any paid items where the Accounts personnel can view past reconciliations, and thus reduce or eliminate the need to retain hard copy filing systems., Full audit trail and on-line enquiries are provided at every level of the system., Cash System, The cash module allows input and automatic posting to ledgers and bank accounts with an on-line, real time Bank balance enquiry., Direct Debiting, With the increased use of instalment methods to settle premiums, our BACS (Bankers Automated Clearing System) comes into its own. This system takes its data at gross level from the policy records, automatically calculating each instalment as per the mandate and periodically producing a tape for onward transmission BACS. The systems handles all legal and administrative documentation, such as changes to the mandate, or a change by way of additional premium or return premium generated by the system., Reports, Three types of reporting system are available within COBRA: , On-Line On-line enquiry and reporting facilities are integrated at every level of the system. , Ad-hoc Reporting-The ability for users to produce ad hoc reports is greatly enhanced by the fact that our database is ODBC compliant, permitting the use of similarly compliant third party packages. This is in addition to the provision of SQL, the industry standard for producing ad hoc enquiries/reports. , Batch Reporting Reports are produced covering every aspect of the company's activities, as well as its corporate requirements. These reports can be produced on demand or on a set periodic basis. The system currently produces the following reports, which are grouped under various headings for ease of reference: , Monthly Reports, Underwriting , Policy Diary Listing , Adjustments due by over 6 months , Outstanding Adjustments , Renewal Diary Listing , Suspended Renewals Listing , Unclosed Risk Report , Claims Bordereaux , Messages sent by Department , Monthly Transaction Listing , Statistics , Business Stats by Accounting Class , Business Stats by Accounting Class by Branch , Monthly Revenue Account , Company Production Report , Production Report by Branch , Production Report by Consultant , Company Renewal Take-up Report , Renewal Take-up Report by Branch , Renewal Take-up Report by Consultant , Claims , Changes in Incurred Claims > £9,999.99 , New Claims in Excess of £9,999.99 , Outstanding Claims Listing , Outstanding Claims with no activity for 11 months , Outstanding Claims Review Listing , Accounts , Cash Book Print , Cash Summary by Bank , Cash Summary by Ledger Code , Monthly Cash Listing , Journal Transfer Summary , Reconciled Items Print , Adjuster Outstanding Balances , Broker Outstanding Balances , Manual Ledger Outstanding Balances , BACS Take-on Control Ledger , Outstanding Manual Cheques , Unprocessed Computer Cheques , Computer Cheques printed during the period , Item Aged Analysis by Broker , Cash Aged Analysis by Broker , Statements-Adjuster's and Broker's (Pre-printed Stationary) , Quarterly Reports , Business Stats by Policy Type , Business Stats by Policy Type by Branch , Business Stats by Policy Type by Consultant , Business Stats by Type within Commercial Combined , Business Stats by Type within CC by Branch , Earned to Incurred - Year to Date , Earned to Incurred - Year to Date by Branch , Risk Profile Report for "Property" Business , Risk Profile Report for "Accident" Business , Risk Profile Report for "Liability" Business , Risk Profile Report for "Package" Business , Analysis of Portfolio by Reinsurance Category , Quarterly Reinsurance Statement , Claims Reinsurance Statement , Half yearly Reports , Business Stats by Policy Type by Broker , Earned to Incurred , Year to Date by Consultant , Earned to Incurred - Year to Date by Broker , Production Report by Broker , Renewal Take-up Report by Broker , Claims Statistics by Cause of Loss , Settled Claims by Band , Request Reports , Period Cash Details , Business Stats By Postal Area , Changes in Incurred Claims > £24,999.99 , New Claims in excess of £24,999.99 , Claim Catastrophe Report , Large Outstanding Claims > £24,999.99