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Aptitude Insurance Calculation Engine (AICE) from Aptitude Software
Accounting hub designed specifically for IFRS 17 compliance, providing contract service margin calculations, insurance revenue calculations, and extensive disclosure reporting. Integrates with existing systems to provide a single source of accounting truth.
Product analysis by function
Insurance Accounting Systems for Finance and Accounting
Specialized financial software that handles industry-specific accounting requirements, including premium recognition, loss reserves, and statutory reporting.
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Core Accounting Capabilities
(0 Yes /0 Known /12 Possible features)
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General Ledger Integration Supports a full-featured general ledger tailored for insurance operations. |
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Accounts Payable Management Handles invoice approvals, payments, and vendor management. |
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Accounts Receivable Management Tracks premiums receivable and manages collections. |
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Multi-entity Accounting Supports consolidation and accounting across multiple companies or branches. |
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Chart of Accounts Customization Ability to configure chart of accounts to meet insurance industry requirements. |
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Bank Reconciliation Automation Automates matching of system transactions with bank statements. |
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Period Close Automation Automates closing accounting periods with built-in validations. |
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Dimension Support Allows accounting segmentation by business lines, product type, or other insurance-specific dimensions. |
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Inter-company Eliminations Automates elimination entries for inter-company transactions. |
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Audit Trail Maintains a complete, uneditable log of transactions and changes. |
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Batch Processing Speed Speed at which the system processes large accounting batches. |
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Concurrent User Support Number of simultaneous users supported. |
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Premium Recognition & Billing
(0 Yes /0 Known /10 Possible features)
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Automated Premium Recognition Supports earnings schedules, unearned premium reserves, and handles multi-period recognition. |
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Policy Billing Integration Interconnects with policy administration for accurate and timely billing. |
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Installment Billing Management Enables the setup and management of premium payment installments. |
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Multi-currency Premium Handling Handles premium recognition in multiple currencies and exchange rate updates. |
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Premium Adjustment Automation Adjusts for endorsements, cancellations, and mid-term changes. |
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Aging Reports Automated generation of aged premium receivables. |
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Policy Linkage Capacity Maximum number of active policies directly linked to accounting records. |
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Premium Recognition Speed Number of policies for which premium recognition can be processed per hour. |
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Negative Premium Handling Supports reversal and refund of premiums. |
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Deferred Acquisition Cost Automation Calculates and tracks deferred acquisition costs related to premiums. |
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Claims Accounting & Loss Reserves
(0 Yes /0 Known /10 Possible features)
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Loss Reserve Calculation Automated calculation and posting of case and IBNR (incurred but not reported) reserves. |
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Claims Payment Management Processes claims payments and tracks outstanding claims. |
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Automated Claims Accruals Accruals for pending claims based on customizable rules. |
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Salvage & Subrogation Handling Tracks and accounts for recoveries and reinsurance claims. |
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Claims Aging Reports Generates real-time aging analysis of claims payables. |
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Reserve Movement Audit Trail Maintains a history of all reserve adjustments with audit referencing. |
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Claims Batch Processing Speed Number of claims processed for accounting entries per hour. |
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Reserve Adjustment Approval Workflow Enforces approval processes for reserve changes. |
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Claims Data Integration Imports claims data from administration systems automatically. |
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Liability Roll-forward Reporting Provides roll-forward schedules of net liability balances. |
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Reinsurance Accounting
(0 Yes /0 Known /10 Possible features)
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Ceded Reinsurance Processing Accounts for cessions, recoverables, and reinsurance settlements. |
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Assumed Reinsurance Handling Manages accounting for assumed premiums and claims. |
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Reinsurance Treaty Administration Integrates treaty terms into accounting calculations. |
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Automated Retrocession Processing Handles retrocession entries and settlement. |
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Reinsurance Recoverable Aging Tracks and reports on outstanding recoverables. |
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Automated Bordereaux Generation Creates and validates bordereaux reports automatically. |
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Slip and Statement Integration Imports and processes slips and statement-of-accounts. |
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Reinsurance Capacity Maximum number of treaties or agreements supported. |
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Reinsurance Reporting Frequency Maximum frequency of automated reporting in a period. |
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Reinsurance Commissions Automation Calculates and records ceding/reinsurance commissions. |
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Investment Accounting
(0 Yes /0 Known /10 Possible features)
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Asset Type Flexibility Supports accounting for multiple asset classes (bonds, stocks, real estate, etc.). |
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Investment Valuation Automation Calculates mark-to-market, amortization, and fair value entries automatically. |
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Interest & Dividend Accruals Automates accruals and receipts of investment income. |
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Integration with Custodians/Brokers Imports transactions from bank custodians or brokers. |
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Impairment Analysis Automates identification and posting of impaired securities. |
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Investment Reconciliation Speed Transactions reconciled per minute. |
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Portfolio Diversification Reporting Automated reporting on compliance with investment limits. |
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Trade Settlement Automation Automates posting of trade settlements. |
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Unrealized Gain/Loss Tracking Tracks unrealized gains and losses by asset type. |
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Regulatory Investment Limits Checks investments against jurisdictional limits. |
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Regulatory & Statutory Reporting
(0 Yes /0 Known /10 Possible features)
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Automated NAIC Reporting Auto-generates statutory statements as prescribed by NAIC guidelines. |
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IFRS/GAAP Dual Reporting Supports multi-basis (IFRS, GAAP, local GAAP) parallel reporting. |
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Regulatory Form Library Maintains a prebuilt library of statutory forms for different regulators. |
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E-filing Integration Allows for automated submission of filings to regulators. |
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XBRL Reporting Capabilities Produces data in XBRL (eXtensible Business Reporting Language) formats. |
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Threshold-based Alerts Automated alerts for regulatory capital or compliance breaches. |
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Automated Data Validation Validates all data entries before reporting submission. |
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Filing Cycle Support Maximum supported reporting cycles per year. |
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Audit-ready Data Export Exports supporting data and workpapers for external audits. |
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Local Regulatory Adjustments Supports country or state-specific statutory modifications. |
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Integration & Interoperability
(0 Yes /0 Known /10 Possible features)
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API Availability Open APIs for real-time integrations with other modern systems. |
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Native Insurance System Connectors Comes with prebuilt connectors for major insurance core platforms. |
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Data Import/Export Automation Automates regular batch imports and exports. |
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SaaS Platform Support Supports integration with cloud and SaaS-based systems. |
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Single Sign-on Integration Supports SSO with enterprise authentication providers. |
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Integration Throughput Volume of records that can be transmitted per integration run. |
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Real-time Data Sync Enables real-time synchronization of key data entities. |
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Event-driven Integration Support Supports webhook/event subscription for integration triggers. |
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Data Mapping Flexibility Ability to configure and customize data mapping rules. |
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Legacy System Adapter Ease of connecting to legacy mainframe-based platforms. |
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Security & Compliance
(0 Yes /0 Known /10 Possible features)
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Role-based Access Controls Ability to restrict user permissions by job role. |
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Data Encryption at Rest All data stored on disk is securely encrypted. |
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Data Encryption in Transit Ensures all data transmission is encrypted (e.g., TLS). |
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Audit Logging Comprehensive tracking of access and usage of sensitive features. |
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Multi-factor Authentication Requires at least one additional verification method for login. |
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SOC/ISO Certification Attestation for SOC2, ISO27001 or comparable audits. |
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Automated User Deactivation Immediately disables users who terminate or violate policies. |
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Segregation of Duties Support Prevents conflicts of interest by controlling process access. |
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Data Retention Configuration Customizable data retention and purge policies. |
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Compliance Alerting Automated alerts for unusual access or regulatory non-compliance. |
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User Experience & Usability
(0 Yes /0 Known /10 Possible features)
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Customizable Dashboards Dashboards can be configured by user or role. |
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Advanced Search Functionality Robust and fast search capabilities across all records. |
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Mobile Access Functional access across tablets and phones. |
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Context-sensitive Help Built-in help and support tied to each screen. |
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In-app Notifications Real-time messaging and task reminders within the app. |
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Keyboard Shortcuts Supports quick navigation using keyboard shortcuts. |
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System Average Response Time Average time for page or action to load. |
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Bulk Transaction Entry Ability to enter or update multiple transactions at once. |
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Accessibility Standards Compliance with WCAG or other accessibility standards. |
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Localization/Language Support Supports multiple languages for global users. |
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Reporting & Analytics
(0 Yes /0 Known /10 Possible features)
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Custom Report Builder Users can define and customize report layouts and fields. |
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Ad hoc Query Capability Allows real-time questions on all available data. |
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Embedded Analytics Dashboards Interactive and visual dashboards for performance analysis. |
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Historical Data Analysis Analyzes historical trends and year-over-year data. |
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Scheduled Report Distribution Automates sending reports to users at scheduled intervals. |
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Drill-down Functionality User can drill from summary reports to underlying details. |
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Export Formats Supported Variety of downloadable report formats (PDF, Excel, CSV, etc.). |
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Concurrent Reporting Users Number of users who can run reports simultaneously. |
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Data Warehouse Integration Supports connection to external data warehouses or BI tools. |
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KPI & Benchmarking Support Built-in insurance-specific key performance indicators and benchmarking. |
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Scalability, Performance & Support
(0 Yes /0 Known /10 Possible features)
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Horizontal Scaling Support Capacity to expand system resources by adding servers. |
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Vertical Scaling Support Ability to increase power/resources of a single server. |
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Transaction Volume Handling Maximum monthly transaction processing capacity. |
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Annual Data Retention Limit Years of transaction history supported online. |
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Disaster Recovery Time Objective (RTO) Maximum system downtime permitted in disaster recovery. |
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Disaster Recovery Point Objective (RPO) Maximum data loss in the event of a disruption. |
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99.9% Availability SLA Service guarantees for system uptime. |
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24x7 Support Availability Provides all-day support coverage. |
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Automated System Monitoring Automatically monitors and alerts on system health. |
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Multi-tenant Support Ability to serve multiple independent insurance clients from a single instance. |
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