A powerful finance management tool for global Property & Casualty businesses utilising a flexible ETL solution to configure the load of data from multiple disparate source systems. A comprehensive finance data warehouse holding all accounting data, supporting finance processes that are required to produce an insurers full technical and non-technical underwriting results. The close management system enables the finance team to automate and accelerate period-end processing.
Against a background of ongoing change and an ever-more complex regulatory environment, it is essential for insurers to be able to produce ﬁnancial data quickly, reliably and accurately. Existing IT systems fall short, and manual processing is onerous and time-consuming. Phinsys developed TANDEM in response to this need.
A reliable source for management, regulatory and statutory reporting ensuring reconciliation and transparency. TANDEM will also forecast and plan the entire underwriting result, with the capability of using actual data to allocate to required levels of detail. Integrated with other Phinsys products, TANDEM enables the user to combine source system data with IBNR, Solvency II Technical Provisions and Allocated Expenses in one place to meet all internal and external financial reporting and management information requirements.
Integrated with other Phinsys products, TANDEM enables the user to combine source system data with IBNR, Solvency II Technical Provisions and Allocated Expenses in one place for reporting and analysis by Finance and Actuarial teams.
With a user-friendly web-based user interface to control the month end process, TANDEM effortlessly handles multiple sources of data, including policy and claims source systems, Data Warehouses and feeds from the General Ledger. TANDEM also translates and tracks corporate coding such as product and class, provides automated reconciliation against sources and integration with the COMPLY reconciliation tool for all target systems.
TANDEM incorporates numerous features to ensure that basic and otherwise time-consuming tasks are performed quickly, reliably and securely.