PRMSI PIPA (primary insurer premium accounting) is an accounting solution for property and casualty insurers. It sits between policy administration and accounts.
PRMSI PIPA receives data from policy administration and creates records for insurance premiums in Microsoft Dynamics® GP.
PRMSI PIPA operates on the following transactions in the insurance policy lifecycle: new business, mid-term adjustment, cancellation, reinstatement and renewal.
PRMSI PIPA receives the data for these transactions after they have passed underwriting rules and rating. If premium is ceded then reinsurance values may be received or calculated by PRMSI PIPA.
The transaction data is passed into business rules which control how the records are created in Dynamics GP.
PRMSI PIPA supports agent billed business and direct billed business.
PRMSI PIPA supports policies paid by single bill and those paid in instalments.
PRMSI PIPA can work with personal lines and commercial lines of business. It is supplied with a demonstration environment that includes business rules, sample messages and an installation program that loads setup data into a Dynamics GP company.
