Overview
Genesis Credit Insurance Application (CIA) is a Credit Risk Insurance (CRI) workflow solution for global banks and financial institutions. By streamlining processes and enabling real-time portfolio and risk analysis, CIA enhances productivity and mitigates operational risk.
Key Features
“As regulatory pressures mount, financial institutions grapple with expanding their lending businesses while simultaneously managing risk within tighter capital constraints. CRI teams, hindered by data fragmentation, manual processes, and cumbersome spreadsheets, struggle to fulfill growing demand for risk distribution, threatening their ability to serve the business, adhere to policy requirements and monitor risk.
CIA transforms CRI processes, enabling teams to track deals, manage the insurance lifecycle, and report on portfolio performance in real-time. It centralizes loan, counterparty, and limit data from existing systems, including LoanIQ and ACBS, to reduce manual data entry and increase productivity.”
| Capability | Feature | Description | Details |
Distribute | Deal Pipeline Management | Monitors the progress of deals from initial inquiry to the point of policy binding, with real-time updates to manage operational risk efficiently | Enables collaboration giving all teams transparency of deal progress. |
| Quote Request Capture | Supports both manual and API-driven capture of detailed loan and insurance request information, integrating seamlessly with loan booking systems. | Ensure accurate record keeping of all quote request and related activities – all time stamped and audit trailed. | |
| NBI Workflow and Policy Binding | Manages the sending of non-binding indication requests to the insurance market, captures broker responses and facilitates approval management and policy binding. | Streamlines the disparate workflows within a single application. | |
| Centralize | Back-Office Integrations | Connects with custodians and in-house systems for streamlined settlement of trades. | Supports enterprise messaging protocols for seamless connections with industry recognized custodians and back-office systems. |
Monitor | Portfolio & Compliance Management | Provides a comprehensive view of upcoming policy events, compliance deadlines and open approvals, ensuring timely action on critical tasks and maintaining regulatory adherence. | |
| Premium and Event Scehdule Management | Manages premium event schedules with integrated alerts for upcoming and overdue payments to ensure financial obligations are met on time. | ||
| Limit Utilization and Exposure | Tracks insurer exposure and limit utilization, ensuring balanced risk distribution and adherence to policy limits. | ||
Report | Fees & Charges | Tracks internal commissions and financial contributions from risk distribution activity. | |
| Document Library | Safeguards all pertinent documents, in a structured, accessible document vault. | ||
| Reporting | Creation and export of reports on activity across deals, portfolios, policies, alongside business metrics such as internal commissions, across excel and PDF formats. |
Diagram
