TurnQuest Life Insurance System (LMS) is a complete administration solution for life insurance, pensions and investments, covering both group and individual business. With its inherent flexibility, TurnQuest Life can power a range of modern operating models on a single system. TurnQuest LMS addresses the challenges facing insurance companies by providing a flexible platform for a changing business model, enabling life and pensions companies to cater for a variety of products and services.
TurnQuest Life Insurance System (LMS) can support a range of hybrid products – both group and individual schemes – so traditional insurance components can sit alongside life, disability and unit linked investment ones, and, if required, lending and mortgage components. TurnQuest Life is part of the TurnQuest Insurance Suite which is made up of 3 closely interface sections that enable an insurer to mix and match various components to develop unique products to market.
TurnQuest Life Insurance System Sections
- TurnQuest Individual Life Management System
- TurnQuest Group Life Management System
- TurnQuest Group and Individual Pensions Management System
TurnQuest Individual Life Management System
TurnQuest Individual Life delivers comprehensive support for term life, whole life, endowment, loans and savings, permanent and short-term disability and various types of health covers including catastrophic illness, accident, and student plans.
The TurnQuest Individual Life system is comprised of several tightly integrated functional modules which include;
- TurnQuest Individual Quotations, Proposal & Marketing
- TurnQuest Individual Underwriting & Administration
- TurnQuest Individual Medical
- TurnQuest Individual Reinsurance
- TurnQuest Individual Claims
- TurnQuest Investment Linked
TurnQuest Group Life Management System
TurnQuest Group Life adopts a 3-tier approach to the unique needs of group insurance business processing by delivering the flexibility to develop defined books of business, associations, or major employer units within which clients, groups, internal divisions or small employer units can be added. Employees or members along with their dependents can then be enrolled for capture of detailed employee-level data.
TurnQuest Group Life delivers comprehensive support for Life, Credit/Loans & Savings, Dependent Life, Long and Short-term disability and funeral cover. The TurnQuest™ Group Life system is comprised of several tightly integrated functional modules which include;
- TurnQuest Group Quotations
- TurnQuest Group Underwriting & Administration
- TurnQuest Group Medical
- TurnQuest Group Reinsurance
- TurnQuest Group Claims
TurnQuest Individual & Group Pensions Management System
TurnQuest Life Pensions is designed to help insurers to deal with the complex set of rules and regulations which govern the pension business. It covers all the main types of pension arrangements including;
- Defined Contribution Schemes
- Defined Benefit Schemes
- Personal Pensions
- Retirement Annuities
- Deferred Annuities
The integrated TurnQuest Life and Pensions handles various processing flows, and more than twenty specified benefits and rider types. The benefits and riders are completely developed and maintained by the user with appropriate security levels, and do not require programming intervention for use. The user may develop any number of benefits and riders, for individual and group business.