Coordinated Insurance Management System - a first of it's kind enterprise-wide, end-to-end process automation tool designed exclusively for wrap-up insurance management.
Wrap-up insurance is the term used to refer to liability policy that provides an envolope coverage to contractors and sub-contractors working on large scale constructions projects. CIMS as a platform is designed from ground up to provide a system that can be used to manage & monitor insurance liabilities for contractors as well as owners involved in such projects.
CIMS is the perfect synergy of cutting-edge software technology being used to solve micro-level complexities of the risk insurance domain.
Backed by a team at Acacia Tech that has substantial man years of experience in the domain and are the creators of the CIMS platform, who better to service software platform than the OEM themselves.
CIMS is an enterprise wide platform designed for companies who need wrap-up project / risk management and administration. It is a one-stop solution for all process flows involved in the wrap-up insurance business. CIMS has been built on proprietary algorithms and work flows, which in turn have been desgined to replicate the physical process flows in an highly efficient manner, cutting out clutter.
As a result, CIMS is a lean and mean technology platform that is fast, robust, comprehensive. At the same time is built on a modular architecture which enables a high degree of flexibility to incorporate client specific requirements.
The best part CIMS is available as a cloud based service on a pay per use licensing model, thereby empowering enterprises across segments irrespective of their size.
The core CIMS design team brings in 50+ years of experience in software, technology as well as the domain. Hence as a platform CIMS fits every enterprise requirement in the domain like a glove. Its ready to use from the moment a client signs-up. The design strategy has been to keep the platform simple, easy-to-use, intuitively designed user interfaces to help faster adoption by users and most of all not to make it feature-heavy.
As mentioned earlier it is flexible enough to accommodate client specific requirements, if there are any.
A worthwhile RMIS is designed with input from all parties involved, namely - risk management, safety, construction management, contractor safety, loss control, insurance underwwriting, sponsor claims and so forth.
CIMS provides project and contract specific loss runs, premium forecasts by contract, contractor & sub-contractor data, safety & loss control frequency, severity & incident rates, customised insurance credit calculations and rates, contractor deductibles, individual loss ratios, premium estimates and other management reports which can again by designed specific meet the requirements of construction management, engineering, risk managmeent and contract administration.
CIMS provides an end-to-end automation for its clients. Such a service is only possible when the platform is able to consume insurer end claims data and merge or map that with the enterprises' project based data to generate a holisitc and complete view of the business. CIMS provides standard and customizable MIS & reports achieved on this integration.
Acacia has already developed and put in place insurer specific APIs and integration protocols, which gives it the unique capability of seamlessly interfacing CIMS with multiple insurers and automatically consuming claims data from their systems into CIMS. Thereby ridding the enterprise of the complicated process of reconciling in-house claims data with insurer data.
This level of automation is hardly achieved in any of the contemporary OCIP/CCIP software platforms available. Thus making CIMS a default and preferred platform for many of our clients.
CIMS being a cloud based service, rids the client of the headache of monitoring & scaling storage requirements as the business grows. It can handle any amount of data that the projects can generate. Robust data storage and smart schema designs ensure zero data loss and fast querying for your transactions and reports.
Key data points being stored include -
* Complete contractor & key personnel contact, Federal registration & ID details.
* Complete project demographics, contractor - subcontractor mappings, project values, project loss ratio.
* Policy details, coverage, validity, premium payable, premium forecasting.
* Compensation details - payrolls, clocked hours, rates.
* Data for monthly wrap-up status reports, summary & stewardship reports.
* Any data storage arising out of customized report requirements.
CIMS has been built from scratch exclusively for the domain - wrap-up risk & insurance management. Hence from a functionality perspective, there is not a requirement in the domain, that is not mapped into CIMS. Moreover, we incorporate any industry changes into CIMS on a regular basis and also any best practices that evolve across clients, also become part of CIMS, which benefits our client community.
Technically, CIMS is built on the Microsft platform. But the user end interfaces are browser based, so in case you have a no-Microsoft environment internally, no sweat. All that you need is a browser on your device, Firefox the better.
If you are interested in some more technical details, you can always mail us at firstname.lastname@example.org
Access to CIMS is provided on the basis of secure & authorized login credentials, backed by a well-defined set of privileges, based on which users get to use the various functionalities of the platform. All data exchanges are over secure link to prevent any unauthorised data access.
CIMS is hosted in our state-of-the-art datacenter in Florida, which is housed in a category 5 infrastructure, backed up by UPS and DG for stable power over continuous periods of outages. CIMS is connected to high speed NTT/Verio Tier 1 networkw, which in turn has internal failovers with multiple ISP networks. Physical security is ensured by 24x7 surveillance, access controls, bio-metric only entry.
CIMS also resides behind a highly secure firewall, which has been implemented atop adequate OS, web server and application level hardening, global standards of IT SEC policies. Well drawn out IP access tables define any external access.
For special security requirements of select clients, we do provide additional levels at an extra cost depending on feasibility.