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From qualifying for a loan to securing a family’s future dreams and aspirations, there are many reasons people come to insurance companies for a life insurance policy. Simultaneously, insurance is a rigorous industry in which sustainable profitability increasingly relies upon powerful technological innovations. Different parts of the world present varying challenges and risks associated with penetrating new markets and embracing disruptive technologies. But there are always tangible gains to be made by streamlining operations, no matter where the world finds you. By making policies easier for your customers to understand and purchase while simplifying backend processes and strengthening risk assessment, you can bolster your operation’s efficiency and grow your customer base and loyalty. ESKA® Life is our life insurance management system that invigorates every step of your life-insurance operation, from automating product creation and underwriting processes to handling claims, sales and investments. As a feature system within the ESKA® Insures insurance management software suite, ESKA Life comes replete with extensive insurance functions and features to ensure you maintain an adaptable and accessible life-insurance enterprise. With a powerful rules-based engine that calculates your aggregate risk and reinsurance arrangements, ESKA Life provides you a powerful end-to-end platform for driving sustainable growth in a competitive industry.
Administer policies with a do-it-all platform ESKA Life gives you the dynamic infrastructure necessary to running a complete and competitive insurance company. From creating your product portfolio and underwriting process to issuing and maintaining policies, configuring payments, and processing claims. Orchestrate an effective sales network Retaining current customers while reaching out to new ones is vital to sustaining organic growth. ESKA Life accelerates your sales processes with straight-through processing (STP), agent portals and the ESKA Life Illustrator. Together with customizable incentive strategies and sales analysis, ESKA Life helps you connect with your customers with purpose and insight. Combine insurance and investment products Open up your investment potential with your insurance revenues and vice-versa by integrating your insurance and investment products within a single platform. Enabling a variety of insurance-based investment products, ESKA Life helps you meet a wider spectrum of market demand. Calculate solvency requirements Every insurance enterprise needs a minimum threshold of cash on-hand to service claims and payout. Using the reserve and provisions calculation engines of ESKA Life, you can calculate the risk you insure across every policy and adjust your reserves accordingly, enhancing your financial resilience and consumer confidence. Reduce risk with co-reinsurance Limiting your product portfolio to only the risks your reinsurer is willing to cover makes it harder to differentiate yourself from the competition. ESKA Life helps you to split the various risks you cover between multiple reinsurers, so you can package bolder insurance products to your clients and pocket the rewards. Keep everyone updated The ESKA Life notification system helps keep everybody on the same page by configuring automated notifications for any and every work process. Real-time processing also ensures that any task you change or accomplish is instantly reflected throughout the whole system. Automate your approval process The ESKA Life approval system provides easy-to-use automated tasks, which help you delegate and verify all necessary inputs and approvals for multi-step processes. Altogether, ESKA Life helps you slash the bulk from your workloads without sacrificing control. Diversify products with Takaful ESKA Life incorporates the guidelines of Takaful, enabling you to design insurance models spanning Morabaha, Wakalah, and Modaraba concepts. With Takaful, you can build a better-diversified insurance portfolio that attracts more customers and gives back to the community. Expand market access with Bancassurance Bancassurance opens the door to a new frontier of possibilities by bringing your insurance products to bank-affiliated customers. ESKA Life empowers you to expand your market reach by building mutually fruitful relationships with banking institutions and the clients they serve. Bancassurance automates and accelerates the process of creating quotations, issuing policies, alterations and renewals. Customers can additionally file claims information and receive updates on their claim statuses right from their local bank. Unleash your scaling potential In tandem with its adaptable digital features, ESKA General gives you the means to manage and distribute your operations according to sub-companies, branches, departments and sales channels – all while maintaining cohesion and minimizing overhead. Together with consolidated HR, finances, reporting & analysis and digital marketing, you can scale up your operation with confidence and success. Maximize system accessibility ESKA Life supports access portals and mobile apps. Let all your sales professionals fully access the quick policycreation tools of ESKA Life, and help your customers stay up to date with the details of their payments, insurance and prescriptions.
A streamlined product portfolio is the foundation for accelerating your entire insurance operation. ESKA Life lets you create and customize a comprehensive array of insurance and investment products and parameters that can be quickly retrieved to build individual and group policies later. ESKA Life enables you to assemble a holistic portfolio that comprises everything from group and individual policies to riders, administrative actions and payment schemes across any classification of risk. Every policy you create also comes with its own administration page, which allows you to enact benefits, alterations and renewals within seconds. And any policy you create can be linked to an automated payment schedule that meets your client’s needs. By establishing a complete product portfolio, ESKA Life accelerates your ability to tailor complete and competitive policies for your customers.
In addition to its conventional capabilities, ESKA Life flexibly enables you to build Takaful-based insurance schemes. Takaful in ESKA Life provides you the option to design insurance schemes according to the Morabaha, Walakah, and Modaraba business models. It provides a robust solution for retaining and distributing profits on the eligible policies for each business line per insurance product. To help you design a Takaful-based system, ESKA Life supports various fee setups and calculation factors in addition to surpluses, capital reserves, incentives and fund-management fees. ESKA Life also enables you to define participant and shareholder roles for your customers as well as Takaful-based operator and risk funds. With ESKA Life, you and your clients can also channel any portion of investment revenues towards charitable causes you choose. Wielding Takaful-based methods for collectivizing risk, handling investments and distributing payouts ultimately yields you a more diverse product portfolio that can appeal to a wider breadth of prospective customers.
Strong underwriting empowers you to assemble customer information and assess risk quickly and confidently. ESKA Life proffers that and more; alongside managing your product portfolio, ESKA Life supports an integrated underwriting process that can instantly assess an applicant’s risk according to the information you plug in. ESKA Life provides a unified platform in which you can configure and retrieve all your underwriting tasks when an application demands it. When you integrate your actuarial tables with the platform, ESKA Life projects the risks of individual policies and pricing pools, giving you the ability to price your products sustainably and competitively. Underwriting groupings also enable you to sort your risks into categories you define, in turn helping you adjust pricings and requirements on a risk-byrisk basis.
Empowered with a stronger operations infrastructure, a streamlined sales force and marketing strategy can help you retain pre-existing customers and bring in new ones. ESKA Life features comprehensive sales network management that enables you to structure, monitor and compensate your entire sales network. To facilitate effective supervision, ESKA Life maintains a complete overview of your sales force and its details, from your business channels to the sales professionals that operate within them. To complement your in-house sales force, your sales management can extend to encompass your indirect sales venues, including brokers, external agents, and bancassurance channels. Any sales professional and their tasks can be adjusted or transferred as you need. Regardless of their channel, all sales professionals can access the policy-creation tools and straightthrough processing (STP) capabilities through the agent portal, so they can quickly issue tailored insurance policies to their customers. The system also lets you comprehensively define how you offer commissions and bonuses to sales professionals while tracking their activities and expenses in-sync with ESKA Financial and HR. By administering your sales force – from fine-tuning commission rates, identifying your brightest talents, and expanding your most fruitful business channels – ESKA Life enables you to realize a better-articulated sales strategy.
ESKA Life lets you create a holistic personal profile for every person you cover across individual and group policies alike. The personal profile manager integrates your customers’ information into every step of the insurance process, from the underwriting process to creating policies and processing claims. You can also access the personal profile manager directly to display a customer’s complete information on a single page. By providing a customer database that follows you through every step of creating individual and group policies, ESKA Life helps you understand your clients and enhance your insurance processes accordingly.
ESKA Life provides a dedicated individual policy creation platform for building and maintaining individual policies, so your employees can flexibly manage insurance policies alongside their customers. An essential task for ESKA Life is to invigorate the relationship between an insurance company and its customers. Supporting a visual illustration tool and straight-through processing (STP), ESKA Life enables your sales team to instantly calculate various products and tailor a suitable insurance package for any customer that walks through the door. The ESKA Life Illustrator also pairs with a digital applications process, helping you complete all the customizations and details necessary to issuing an insurance policy. You can also configure a payment schedule and make any administrative transactions you need prior to approval. All policies are payable via any payment method, as supported by ESKA Business Manager.
ESKA Life allows you to create group policies, seamlessly mixing and matching benefits across classes under a single group policy for your master policyholder. ESKA Life provides multiple categories for building and adjusting any group policy’s configuration – from the policyholder’s master contract down to customizable category schemes and insured individuals. Rather than administer policies on an individual basis, you can quickly apply changes to entire categories and sub-categories at a time. Additionally, ESKA Life lets you integrate group policies with any investment products your policyholder may hold. Various renewal features also let you update and adjust policies alongside your customers. With time-efficient application tools and uploading processes for importing information, ESKA Life altogether provides you powerful features for managing scalable and wellinformed group policies.
The increasing interconnection between various financial services enables insurance companies to offer a wider array of financial products. In addition to life insurance, ESKA Life also enables you to grow your clients’ savings and assets with insurance-based investment plans. Whether it’s cultivating a rainy-day fund, sustainably paying down debts or setting money aside for a child’s education, ESKA Life lets you configure any array of unit-linked and interestsensitive investment products to empower your clients in meeting their goals. ESKA Life comes with all the data-sharing, uploading and integrating capabilities necessary to running a powerful investment operation seamlessly, whether you are managing your investment portfolio in-house or sharing data tasks alongside external investment parties.
The ESKA Life claims processing contains all the functions and features necessary to manage claims effectively while tracking their provisions within your financial system. In addition to consolidating all customer profiles and requisite documents necessary for you to process a claim, ESKA Life also automatically facilitates payments in line with the parameters set within the insured’s policy. ESKA Life enables you to follow up with every dimension of a claim’s payout, from the payment schedule to the method of payment and designated beneficiaries. It functions in tandem with ESKA Business Manager to ensure that every claim’s financial impact is accounted for as part of your single financial system. Running a stronger claims process with ESKA Life means that you provide faster service to your clients while maintaining a unified financial system.
The ability to continuously meet financial obligations is crucial to an insurance company’s reliability in the eyes of regulators, consumers and rating agencies. To help you maintain a healthy threshold for solvency, ESKA Life contains powerful calculation engines that aggregate the risks and claims you are insuring to pinpoint your required reserve and provision sums. Determining an adequate reserve and provisions sum for solvency varies depending on the risk of individuals you insure in addition to laws and regulations. ESKA Life can flexibly calculate any variable across your actuarial tables to help you determine adequate rates for the various events you insure. These probabilities are then paired with customizable formulae that set reserve rates for any product type in your portfolio. All actuarial tables are definable by you and loadable via pre-formatted Excel templates. By precisely determining your provisions and reserves demands, ESKA Life lets you narrow your contingency margins and price your products for better competitiveness and reliable profitability. With time-efficient application tools and uploading processes for importing information, ESKA Life altogether provides you powerful features for managing scalable and wellinformed group policies.
Key to standing out from your competitors is offering products nobody else can. Doing so sustainably depends on finding optimal reinsurance arrangements specific to each and every risk you cover. ESKA Life enables you to create bolder insurance products for your clients by distributing your risks between multiple reinsurers. ESKA Life amplifies your ability to properly sort and distribute your covered risks between multiple reinsurance treaties and plans. Since reinsurers cover different risks at different prices, mixing and matching your reinsurers provides you comprehensive risk distribution and coverage at the lowest available prices. Additionally, ESKA Life gives you the option of automatically distributing documents and claims to the proper reinsurer as you process them for your customer. It also tracks the amounts you retain and cede to reinsurers, integrating them accordingly into your financial reports. With time-efficient application tools and uploading processes for importing information, ESKA Life altogether provides you powerful features for managing scalable and wellinformed group policies.
Making well-informed adjustments demands purposefully organizing the vast amount of information your insurance operation generates every day. ESKA Life contains a reporting and dashboards tool, so you can maximize your information’s accessibility and usefulness. The ESKA Life reporting tool comes with an array of standardized and customizable templates, which automatically organize information from throughout your operation into concise and readable reports. Analytic dashboards additionally enable you to track your operation’s performance across branches, helping you see who and which branches are driving your revenue streams. Utilizing the reporting and dashboards tool, ESKA Life paves your way towards a more focused operation.
Integral to upholding a vibrant customer relationship is giving your customer every opportunity to better understand and participate in their own insurance and investment plans. In addition, this opportunity needs to be supported with the right sales process and comprehensive agent knowledge. Thanks to a number of portals and mobile apps to ease up your customers’ access and support your sales process, you can simplify your workflow and create greater customer satisfactions. Customer Access ESKA Life supports a customer portal and mobile app, enabling your customers to fully appreciate the daily benefits of life insurance and investment. Customer Portal: The customer portal extends self-service capabilities to your customers, enabling them to stay informed about everything ranging from their policy details to their investments’ performances, claims processes and payment details. Customer App: The native customer portal mobile app brings an accelerated ESKA Life Customer Portal to your clients’ smartphones, enabling them to explore and review their policies’ details and premium statuses on the go.
Sales Tools and Access ESKA Life supports your sales professionals directly with a toolkit of functions and features to help them better identify and connect with customers. Agent Portal: To optimize the way external sales professionals interact with your insurance operation, ESKA Life provides an Agent Portal that enables them to issue policies and alterations using straightthrough processing (STP). Life Illustrator Tool & Mobile App: Pairing ESKA Life’s policy builders with ESKADENIA’s Illustrator tool and native mobile app, you can bring the policy creation process to life on your sales professionals’ desktops and smartphones. At the heart of the Illustrator lies a powerful calculation engine and STP methodology, which enables sales professionals to quickly provide pricing quotes for various customizations of an insurance policy before finalizing and issuing a product for the customer.
ESKA Life is a standalone Life Insurance Management system that is also part of ESKA® Insures®, ESKADENIA’s end-to-end Insurance Management Software Suite that also contains the following core insurance systems:
ESKA Insures provides a fully-integrated package of tailored insurance support systems and functionalities to augment every insurance operation. Integrate your insurance systems with the rest of the organization
ESKADENIA ensures that your potential grows within a unified operation. ESKADENIA provides an array of complementary software systems, so you can extend the core capabilities of ESKA General throughout the rest of your company’s operations and customer relationships.
Embrace comprehensive digital insurance operations!