Modular structure enhances efficiency and reliability

Profit Life&Pension supports insurers’ key processes.


Policy Manager

Policy Manager is a scalable solution for all life and pension insurance product lines. It supports a policy’s entire life cycle – from new sales to underwriting and daily management.

Highly automated

  • Underwriting and policy management processes are automated
  • Processes are controlled by parameterized rules – the system writes a workflow task if manual handling is needed

Supports multi-channel operations

  • Quick and easy to develop and manage new products to multiple sales channels, with different branding and product variations
  • Access rights to insurance policies are specified for each channel and organizational structure
  • User rights are defined by user roles so that they match users’ job descriptions

Self service

  • The system includes an interface for self-service portals
  • It also includes a comprehensive set of ready-made services, which let both private and corporate clients make changes to their policies

Money Manager

Money Manager module controls cash flows related to the insurance policies. Fully integrated with banking systems, it automatically receives incoming premiums and pays outgoing payments.

Its automatic batch process allocates incoming premiums to insurance policies by reference number. Additionally, the module provides dedicated user interfaces for managing manual payment clearing. In cases where the policy status or other parameterized rules prevent premiums from being allocated, users may match payments manually or refund them. The solution follows SEPA standards.

Payment clearing search results can be used as a report for reconciling incoming payments with bookkeeping entries. Users may print the report online or save it in XML format for further processing.

Group policy payments paid with group reference numbers are allocated to member policies automatically – the rules are defined in the payment allocation files. A group payment can also be refunded as a single payment, in which case Money Manager automatically deducts payments from the respective member policies.

Claims Manager

Claims Manager is a scalable software module for managing savings, pension and risk claims. The module steers processing by initializing the correct tax bases and percentages, depending on the claim type. The module includes rules and an automatic process for paying out claims, tax withholding and tax reporting.

Claims Manager provides support for multiple tax bases in a single pension policy. One pension policy can have several reserve types, each with its own tax rules. Since the tax bases and rules are fully parameterized, the solution enables quick reaction to legal regulation changes.

Claims Manager provides services for the following claim types:

  • Pension
  • Partial and full maturity
  • Partial and full surrender
  • Cancel and terminate policy
  • Death
  • Critical illness
  • Permanent disability
  • Temporary disability
  • Sickness and accident

Automated processes

  • Retirement
  • Pension payout
  • Ending pension
  • Annual printouts
  • Tax card updates
  • Maturity
  • Death claim
  • Authority reporting

Client Manager

Client Manager is a solution designed to manage both private and corporate client data. Client Manager can be used as the centralized register or it can be integrated with a third-party master-client register. The module provides support for multi-channel operations, as the visibility rights can be defined in the distribution channel and organizational structures.

Client Manager includes many excellent features:

  • Add, search and update client information
  • Changing a client’s status to deceased will start an automated process to stop invoicing, incoming premiums and pension payouts
  • Trustees, as well as other persons acting on a client’s behalf, are separated from actual clients

Investment Manager

Investment Manager is designed to manage the investment targets connected to insurance policies. One insurance product may include funds and interest-rate instruments. The solution has no investment portfolio restrictions as long as the investment target uses one price per day.

Investment Manager enables dedicated investment selections for VIP clients, since the investment targets can be connected to both insurance products and policies.

Investment Manager has functionalities for creating and managing investment portfolios. Allocation change in the portfolio triggers automatic savings reallocations and investment plan changes in policies which contain the portfolio.

The primary task of Investment Manager is the management of investment values. The module is integrated with a third-party asset-management solution, from which the investment values are automatically exported. Correspondingly, Investment Manager reports the units tied to insurance policies to a third-party trading system.

Investment Manager processes are controlled by parameterized rules – the system writes a workflow task if manual handling is needed.

Automatic batch processes include e.g.:

  • Alarms of missing investment values
  • Backdated policy recalculations due to investment value changes
  • Profit sharing (sharing of dividend)
  • Processes connected to:
    o Ending investment targets and fund mergers
    o Exceptional subscription time

Commission Manager

Commission Manager provides services for managing sales, care and kick-off commissions. Trust relationships are defined in the organizational structure, guiding which units are allowed to co-sell or receive sales commissions. The module initializes the offer creator as the commission receiver, but this can be changed.

Commission calculation rules are defined in the parameters and the rules can be maintained independently by the primary users.

Commission Manager is based on automatic batch processes, which:

  • Collect commission data from Policy Manager’s account entries and policy reserves
  • Calculate commissions
  • Create commission payout files
  • Create export files for bookkeeping and data warehouse

Math Manager

Math Manager is a central calculation engine, providing support for a policy’s entire life cycle – from offer and change calculations to care and claims calculations. It supports unit-linked and traditional risk-life calculation models, paid-up policy calculations, and both traditional and defined benefit techniques.

One of its most important features is the support of retroactive calculation transactions. For example, if an incorrect fund value is used in a transaction, Math Manager automatically recalculates and corrects all affected policies.

Math Manager can also be used to calculate existing product portfolios or as a simulation tool in the development of new products. Plus, it provides an XML-based interface for integration with third-party environments.

The calculation basis are defined as formulas (profiles), which are connected to the insurance products or policies via parameters. These calculation profiles are flexible and they hold no static values – these are retrieved from the math parameterization. This enables fast product development and sales channel-specific pricing models.

Math Manager comprises the following calculation services

  • Offer, change and prognosis
  • Care
  • Claims
  • Retroactive, which are started automatically (e.g. when investment rates are changed)

Math Manager includes a test bench and an extensive library of automated tests to record cases for problem solving.

Bookkeeping material and reports

Bookkeeping is highly parameterized in Profit Life&Pension.

  • Bookkeeping charts, accounts, entries and used voucher series for each bookkeeping entry
  • Each insurance product / sales channel may have different rules

Bookkeeping is a separate process and bookkeeping entries are collected daily from the operative system by a separate batch process.

The bookkeeping export to the general ledger creates the actual bookkeeping entries based on bookkeeping actions and parameterized account info. Each bookkeeping action can have 1-n parameterized debit and/or credit accounts. Each account has also validity period, so account numbers in general ledger can change over time and PLP can still produce correct bookkeeping entries.

Business Analytics

Business intelligence reports provide an easy access to up-to-date summary information about business data like the amount of different insurance products and the policy savings e.g. by organization units.

Profit Software has chosen BIME Business Intelligence (BI) tool for creating customized reports and analysis. BIME is a separately licensed third party tool, but it is closely integrated to PLP.

User Interfaces

Web-based, dedicated interfaces for different user groups.

Sales agent user interface

  • Visibility of clients and policies according to organization structure
  • Limited user rights to sales agents

Case handler user interface

  • User rights assigned according to role

Services for self-service portals

  • Web-based technology enables services to be implemented for client portals
  • New sales
  • Policy changes
  • Claims
  • Group policy functionalities including handling insured and group payments

Interfaces can be localized so that users can interact with the system in the language selected in their web browser. Interfaces can also be tailored to match the preferred visual style. As the user interfaces are based on web technology, there is no need for additional third-party software or client-side applications (such as plug-ins) to be installed on workstations.


  • Web-based; no proprietary software or plug-ins needed
  • Role-based user rights
  • Easy to customize

Supporting processes and tools

Parameter Manager


  • Proven architecture and technologies
  • Scalable and flexible
  • High level of automation using efficient process flows
  • Process quality control via workflow tasks
  • Safe and efficient data migration
  • Reliability and high quality ensured through vigorous testing

Batch Manager

Batch Manager is the module for administrating batch runs. Each batch is a collection of tasks and one task may have multiple subtasks. Batch run (logical batch) is the collection of individual batches.

The system writes batch logs of all batch runs in the system. Batch summary log gives summary info of how many of the handling elements in the batch tasks were:

  • Completed successfully
  • Skipped
  • Gave errors or warnings
  • How many Process Manager tasks were created

The detail log displays the detailed information of each summary category: which policies were failed, how and what was the error situation

Manual task Manager

Profit Life&Pension is based on automatized processes. For this reason it includes also a manual task management system. The system writes a task to the users, when the manual decision making or handling is needed.

Tax report creation

PLP follows country level rules in creating reports expected by the local tax authorities in the correct file formats.

Client printout creation

  • Printing (print-out orders and data)

Migration Tools

Conversion Engine

  • Ready-made tool for migration projects
  • Productized migration model enables safe and efficient data migration
  • Batch environment

Conversion Data Pre-validation tool

  • A console based, stand-alone program that is used to validate conversion source files
  • Validates source data in CSV-files which are formatted according to Conversion Engine Interface (CEI) description
  • Writes an error report based on the findings