Financial Institutions

MDI appreciates that financial institutions offering insurance products have different business models and face different risks than insurance companies...from differing investment strategies, to regulatory authorities, to compliance and privacy requirements.
 

MDI's FIMMAS  System has special features for Credit Life and Debt Cancellation plans; as well as support for a variety of products including Mortgage Insurance, Monthly Outstanding Balance Life Coverage, and Decreasing Life Net Payoff coverage.  FIMMAS also supports debt cancellation/debt suspension coverage, and even automobile GAP coverage on some aspects of vehicle service contracts. Rules tables in FIMMAS allow you to specify—at a granular level—how retail, remit, and refund amounts are calculated based on type of coverage, state of issue, type of loan, and other variables.  
 

MDI has the experience and the tools to help you plan and implement a successful, integrated system approach.

Insurance Portfolio Analysis

MDI can help financial institutions evaluate the types of insurance products that best suit their customers' needs and their company's business goals.

We can also help marketing, customer service, and policy administration staff better understand the unique features of various kinds of insurance products.

The insurance marketplace is increasingly becoming one of hybrid, blended, or specialty products. Insurance carriers can easily tailor support for life, health, and annuity products for a "private label." MDI can help you design product offerings, and analyze your product portfolio to ensure that you have in place the regulatory reporting, management analysis, customer information, and administrative support structures you need to maintain—and grow—your product offerings.

Carrier Relationship Development

MDI has extensive experience working with a wide range of insurance companies, agencies, and brokers. We can help you design and negotiate the product support, customer service, compensation, and reporting structures that facilitate the partnership between insurance carriers and financial services organizations. We can help you build a partnership that is profitable and flexible, and provides your customers with quality products and quality support.

Insurance Industry Training

Inforce policies...substandard rating...duration...face amounts...settlement options...TPAs...jet issue...

For financial services organizations beginning to offer insurance products to their customers, there is a whole new world of insurance terminology and procedures for your staff to learn. We can tailor insurance industry training to teach your platform staff, back office staff, service managers, and marketing staff the products, terminology, and procedures they need to know to be effective in this new environment.

Since 1982, Management Data, Inc. has specialized in insurance administration software solutions.

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APPX

IAI

2060 Oak Mountain Drive, Pelham, AL 35124

mkt@mgtdata.com

Tel. (205) 378-1380

Fax. (205) 378-1381