More on this page:  User Interface  Client Database Where FIMMAS Fits Product Definition
FIMMAS is a complete, integrated system for the support of a wide range of group and individual insurance products. The same programs, screens, menus, and procedures support life, health, and annuity products. The benefits to you include: A single interface for users Simplified user training Streamlined set up and support Better service to customers with multiple policies Flexibility in developing and marketing new lines of business without the complexity and cost of a separate administration system

  Products supported include:

User Interface

All major FIMMAS functions are part of a single system with a consistent user interface and access from any other part of the system.

Menu-driven Access

Menus can be tailored to fit the job requirements and security profiles of different users and departments.

Customized Entry Screens

Product-specific entry screens help users create error-free entries by minimizing the number of keystrokes needed to enter information. Company-specific defaults and pick lists further reduce data entry error.

On-line Edits

On-line edits catch errors as they occur. All on-line transactions are edited against appropriate range checks, business rules, and reference files for accuracy. Codes, abbreviations, and numerical references, such as policy numbers, agent numbers, etc., are verified.

On-line Help

FIMMAS provides on-line procedural and navigational help, and on-line, context-sensitive field help for any field on a screen.

Client Database

FIMMAS has a client-based database. "Clients" are all those with an important relationship to your company, including current and former customers, agents, prospects, referrals, assignees, etc. Additions and changes to client information are entered on-line and updated immediately throughout the system. Home office staff, agencies, reinsurers, customer service satellites — any authorized user can have access to the same client information.

Where FIMMAS Fits

FIMMAS helps you pursue new markets, replace old technologies, streamline support for specialized products, and support multiple companies on a single system. Use FIMMAS as a total administrative solution or as part of an integrated network of specialized systems.

Product Definition

Fast Time to Market for New Products

New products can be "cloned" from existing ones. Existing rate tables and rules can be connected to a new plan for fast definition. Menus, screens, and reports are easily modified to accommodate new products. Interest rates, premium rates, mortality and risk rates, expense charges, policy values, and other variables can be defined and maintained by non-technical staff.

Riders / Supplemental Benefits

FIMMAS supports an unlimited number of riders and benefits on the same plan or policy. Coverage rules are specified one time, even if the benefit is available on multiple plans. An unlimited number of other individual insureds can be specified as riders on a single policy.

Flexible Rating

Rates may vary by face amount, date band, and risk class, in addition to plan, age, and duration. This flexibility applies whether the rates are for premiums, cost of insurance, dividends, reserve factors, or surrender charges. The same rate table rules and factors may be connected to any number of plans and benefits. Rate tables are easily imported from external spreadsheets.

Risk Charges 

FIMMAS calculates risk charges separately for the base coverage and each rider. Charges are based on the net amount at risk, the risk rate, and substandard ratings. Calculations reflect Death Benefit Corridor requirements and the distinctions among death benefit options. Risk rates can be user-maintained.

Expense Charges

FIMMAS calculates a variety of periodic expense charges. Charges may be flat amounts per period, may be based on coverage amounts, and may apply for specified periods of time. Expense rates can be user-maintained.

Interest Calculations

FIMMAS calculates interest on the beginning period cash values and daily interest for each accounting transaction from the date of receipt. Interest is independently calculated for loaned and unloaned portions of the cash value. Interest rates are user-maintained.