Bank integration

In this fast-paced global community, your system needs to support your business in achieving its ultimate strategy. This can be as simple as enabling your employees to be as efficient as possible.

Aladdin software integrates with Hyphen, our preferred payment gateway provider, automatically uploading your bank statements daily into the system. This simplifies the bank reconciliation process as you are able to reconcile actual transactions with expected transactions in near real-time and it saves time by eliminating the need to obtain bank statements directly from your respective bank;

Updating a client or supplier’s bank details on the Aladdin system? By selecting the applicable bank, Aladdin will instantly update the generic branch code for you and in case you miss a digit in the account number, Aladdin validates the number according to the rules of the different banks to alert you to the issue before any payments or collections are made to or from the updated account.

Aladdin is committed to improving the way you do business and save you time in the process.

If you would like to optimize the way you do business contact us.

 

 

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Bank integration

At a glance: The health of your business relationships

A common problem business often encounters in insurance is determining if the brokers and clients you are doing business with are profitable to your business. Although this may seem like a complicated task for many, it shouldn’t be.

With the Aladdin database structure and integration with SQL Server reporting services, we were quickly able to develop dashboard reports to give a quick and easy overview of the general performance and status of a business partner. Easy to read graphs with performance over time, such as premium and loss ratio statistics and upcoming renewals allow a user to immediately pick up on issues and determine if the business partner is bringing in good or bad business both in the short term and the long term.

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Aladdin makes this possible because of its database structure that links the financial, workflow and technical dimensions of the business at the lowest level, which in turn makes it seemingly effortless to combine the data in a multitude of ways and cross section the data as needed to serve it up to the user at the click of a button via reporting services.

If your business could use better analysis contact us.

At a glance: The health of your business relationships

Ensure unique records: CIPC integration

As with most things in life, a unique identifier is needed in order to be sure the correct records are being viewed or amended, instead of someone’s with a similar name. Having the correct ID number or company registration number for your client records, is thus of utmost importance.

Companies and Intellectual Property Commission, or CIPC for short, has an e-service that allows you to look up and validate company information against their database. This e-service is integrated with Aladdin, allowing for the easy search of company registration numbers.

Aladdin CIPC

As in the example above, a partial company name can be searched from the Aladdin front-end and any matching results will be retrieved and displayed within seconds, so you can choose the relevant one to work with.

If you are concerned about the validity of your client records, contact us for a smart integrated system.

Ensure unique records: CIPC integration

Visual statistics: Information into motivation

Aladdin has integrated with Power BI which is a suite of business analytics tools from Microsoft which provide various methods of graphically representing data directly from your data sources.

Power BI allows us to create customised data extracts from our database and design graphs and dashboards based on the information, such as monthly sales totals split out per internal company division or by user on the system which then would allow you to display this information to the underwriters.

You can use this to put up graphs and charts comparing individual’s performance and show them how close they are to their targets. The effect of this is that it is easy to pick up on the problems or where improvements need to be made and also creates a drive for the underwriters to ensure they are meeting their targets.

Power BI also allows you to access your dashboard and key statistics from any smart device such as an Apple watch or smartphone. This allows you to check in on your business wherever you are and get live stats on your business based on your needs.

If your business needs a little more drive contact us.

Visual statistics: Information into motivation

A new way to use existing ways: Spreadsheet integration

Sometimes, the spreadsheet and calculations you work with are compulsory or you simply know they work, so there is not necessarily a need for change to your rating model. Lately on our team blog we have been mentioning innovative and new ways in which you can have our system work for you.

Another way is our system’s ability to integrate with spreadsheets!

There is no reason for change to the calculations and spreadsheets that you have been using to do your rating, we can simply conjoin your spreadsheet with our system.

Aladdin can be set up with the necessary questions and fields that you need to input on the spreadsheet for rating purposes. These questions can be text fields, multiple choice questions, dates, drop downs, dependent fields, amounts, sub items, calculated fields and almost anything you can dream up.

The answers are then populated to the spreadsheet that you provided, and Aladdin returns the answer that you want calculated. These answers can then be used as a base for quoting and adjusted if need be.

All of the system perks are at your fingertips and you don’t have to amend any way that worked for you. If you want to change but still stay consistent, contact us.

A new way to use existing ways: Spreadsheet integration

Exchange rate integration

Some businesses still receive The Business Times daily, but that does not mean it should be used to dot the exchange rates down. Aladdin has built in exchange rate functionality that will allow you and your team to do foreign transactions seamlessly.

At midnight every day, our system performs multiple behind the scenes tasks, one of which is to get the latest exchange rates from the world bank database, ensuring you don’t have to worry about looking up exchange rates when having to work with them.

On a basic level, there is a search function on the front-end where you can look up any past exchange rate if you need to check the exchange rate that was used on a transaction. On a more integrally advanced level, the currency that you want to use can be selected on a quote and the system will do the rest for you.

Quotes and source documents will all be raised in the applicable currency, making communication with your overseas clients easier. On the business and reporting side of things, the premium and related amounts will be available in both the foreign currency and your reporting currency, allowing you to report on multiple currencies in multiple ways. The currency used on the transaction is saved in the system, so you do not have to keep track of the rates used. Banking transactions from the system can also be performed in the currency of your choice, with one or more bank accounts set up to transact in. Inter-bank transactions is also catered for on the system with an easy to use exchange function.

If you want help in changing your exchange rate ways, contact us.

Exchange rate integration

Automate, dont administrate!

Telegrams and homing pigeons are long gone and so should mundane administration be. Between having to remember who should be reminded of a renewal and having to do all the necessary checks to ensure the new client you are about to sign is above board, you might have lost your love for the actual thing you signed up for: Underwriting.

A lot of these administrative tasks and checks that have to be in place are already automated and integrated into our system. The aim of Aladdin is to make the underwriting process as smooth and efficient as possible. We are ensuring this by means of a few handy helpers…

When a policy is underwritten, custom reports, e-mails and SMSes can be set up to send out to clients and brokers any information, such as the policy schedule, visa letters or even just a thank you for the new business.

Automated renewal reminders can be sent out to remind clients that their policy is coming up for renewal. The system will check to see which policies are up for renewal in a few months’ time and will then send out an e-mail with all the necessary attachments.  These PDF attachments can even be pre-populated with certain information, cutting down on some admin time for the broker or client, too!

The system also checks which policies did not renew and can lapse those ones automatically.

Another handy automated task is the generation and transfer of files via FTP so you do not have to manually run reports and save them on your company’s shared drive. They can easily be sent via FTP to an external party, so you don’t have to worry about getting those reports to Susan on time anymore…

We can easily customize reports to suite your needs, leaving your only priority the analyses of the data.

Management can receive a daily update SMS  to ensure they are up to date on performance against budget and that their firm is still on the right track.

All of these automated administration tasks are supplemented by integrations with APIs, such as company registration number lookup via CIPRO, Sanctions Search checks, payment gateways for debit order collections, EFT payments and bank reconciliations, and many more. Visit our team blog to find out more about some of these integrations.

For further information on how to automate your business contact us. Let us take over the administration so you can get back to what really matters: insurance!

Automate, dont administrate!