FUNERAL SYSTEM TECHNOLOGY



  • The recent changes introduced by the FSCA around Juristic Representatives, the collection of premiums, and changes to the requirements placed on underwriters to Treat Customers Fairly (TCF) has led to a massive gap in the assistance business market for a technology driven solution which not only meets the increasingly rigorous regulatory requirements, but which makes business processes and sustainability its core focus.
  • We have developed a fully-fledged ERM system which provides full compliance, premium collection and management and financial management and reporting functions.
  • We have partnered with the leading third party payment processor in South Africa to make sure we can offer solutions which prevent debit order dispute (our authenticated debit orders are non-disputable), increase persistency and which are fully DebiCheck compliant. It takes an agent less than sixty seconds to load a non-disputable debit order with tracking abilities and real-time reporting for the collection of premiums, with built-in fraud prevention happening on a real-time basis.

Royalfin Funeral Sales and collection APP

  • *We have recently launched the first of its kind – complete funeral sales app. After just two hours of training, an agent will be able to do a full policy application including full client verification and risk screening, due diligence and debit collection creation in as little as 10 minutes. The app uses the latest technology available and runs of our power server hosting network, ensuring fast, reliable and easy to understand digital sales processes. Even though our sales app offers the best that the 21st century has to offer within this space, it is designed for a rural market – and is intuitive to use and does not require super fast data connections to function.
  • Benefits of the app include:
    • Full ID and AVS verification – preventing fraud and ensuring client due diligence standards are supported
    • Full integration with leading debit order providers within the DebiCheck space – seamless integration on creation, management and reporting on debit order collections.
    • Electronic signatures
    • Full integration with our administration platform – load policies and debit orders as inactive until a trusted staff member approves them.
    • Full integration with Whatsapp, email and SMS – meaning a client can get a copy of the policy documentation within an hour of taking out the policy
    • Full communication platform between agents and administration staff
    • Full security – an agent can only view their policies – whilst they are in the application phase. They cannot see the policies of other agents or policies they sold but which have already been approved (preventing fraud)
    • Full client due diligence support – ensuring regulatory compliance without the need for hours of time spent filling an endless array of documentation.
    • Easy to use, secure and reliable
    • Works on any android device with a touch screen – and has been built for the rural market
    • Other features include
      • Full reporting
      • Identification of over cover based on DOB, DOB and Surname, DOB Name and Surname.
      • Easy to add family members and policy rules are maintained – an agent cannot sell a policy with the wrong age group or cover amounts – the system only allows predefined entries per policy type
      • Full policy set up including, normal, accidental and Rhider death benefits for single, family, additional, society etc. product types. We can cater for any product set up within the funeral scheme space.
      • Full commission module with 100s of commission iterations
      • Full document customisation – putting your stamp on your policy documents
      • Off-site back up at no additional charge
      • Administer your policies from anywhere in the world- no need to be in the office to see what your staff are doing
      • Full ERP integration – allowing you to manage stock and inventory, financial reporting and full management and diagnostic reporting capabilities.

Contact Us







Contact: 041 004 0114
WhatsApp: 061 541 2195
349 Cape Road, Westway Centre (Provision Life Building),
Floor 3, Newton Park,
Port Elizabeth
6001

Serving Africa through Redefining Insurance.

Provision Life (2019/231369/07) is a registered Juristic Representative of Vision Direct 155 t/a Trans Africa (2010/008011/07), an authorised Financial Services Provider, FSP 21200. Vision Direct is registered to provide intermediary and advise and administrative services in terms of Long Term Insurance Category 1: a and Category IV. Transafrica Building, no 8 First street, Menlopark, Pretoria. Trans-Africa is underwritten by and has a contract with New Era Life, an authorised Financial Services Provider, FSP 2736. Corner Witkoppen and Stonehaven Roads, Paulshof, 2056