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.