IBNR Systems t/a Insurance Information Services Associated was established during April of 1999 to address primarily the Reinsurance needs of the underwriting manager market, and since then has grown from a primary base of consultative skills to that of systems development in specialised fields.
IBNR Systems is a licensed financial services provider (FSP# 3141) in terms of FAIS enactment, thereby ensuring that our clients receive the highest levels of skills and expertise at our disposal at all times.
The majority of systems currently available provide leased software on a percentage of premium basis and not a flat cost platform, thereby prejudicing budgeting and bottom line results in the event of volume processing. IBNR Systems offers systems only on a fixed cost basis with the provision of outsourced functions should the need arise in the form of policy issue, claims handling and management reporting.
Systems have been developed in the Commercial MMIII environment as well as in the Aviation Spheres. The very first systems developed were indeed in the Aviation industry and as such our aviation systems are fully currency and rate of exchange tolerant. Due for release prior to the end of 2005 is our domestic system with a new and revised engineering system to be released soon after that. All systems are currently written in Visual Basic 6 with Sequel 2000 taking care of the data storage and retrieval with migration to Visual Basic .Net currently underway.
All reports can be compiled into stand-alone reports or can be exported to Microsoft Excel – it is of course possible to mail any report within our systems in PDF format to mail recipients, including policy schedules. It is also envisaged prior to the end of 2006 to release our first versions of Marine systems as well as Risk Financing.