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Fiji Time: 8:40 AM on Friday 25 April

/ Front page / Business

New system ensures better response

Geraldine Panapasa
Saturday, January 12, 2013

BROKERS, medical practitioners and policy holders can expect a new and improved information technology system at FijiCare Insurance Limited (FIL) following a successful year end in 2012.

Announcing significant business developments this week, FIL managing director Peter McPherson said the new IT software, which is already in operation, would replace a 20-year-old system that required frequent manual interventions and data reconciliations.

"The new general ledger system is the US standard software package Sun, the insurance application is from E-Meditek of India," he said. "The new system will allow FijiCare to be much more responsive to queries from brokers who have online access, medical practitioners and policyholders.

"The paperless office will be able to communicate via automatically generated short message service (SMS), e-mails and faxes."

Meanwhile, Mr McPherson said 2013 gross written premiums had increased to $9.5million.

He said last year involved renewals and winning of new businesses in excess of $2.3m including a $2m account for a three-year period.

"The 30 per cent increase in gross written premium will result in a considerable reduction in the company's expense ratio.

"The ceded reinsurance structure has been modified to a three-layer per event excess of loss covering the company up to $2m of losses from the ground up.