Back Office Policy Support

Certainty Financial Assurance, Inc has a dedicated and experienced staff to handle all back office functions for your company. We will receive, review, and process your new business life and annuity applications from start to finish. We can assemble new policy contracts and deliver them directly to your customers or to the writing agent. CFA provides billing and collection support for all of your policies via ACH transactions, credit card billing, or through a lockbox at your bank. We will provide full policy service for your customers including telephone calls, email requests, and written requests for beneficiary changes, name and address updates, loans, withdrawals, non-forfeiture processing, and any other insured/agent inquiries. We are experienced in gathering all claim information to assist your claims department in their adjudication efforts.

Certainty Financial Assurance will provide reinsurance support and extracts to your accounting department as well as bank account reconciliation services. CFA also will produce an extract for valuation and ledger interfaces. Ad-hoc reports to accommodate special requests are available and produced to quickly respond to your needs. All information is available via the web.

Products Supported

CFA Supports Whole Life, Term, Universal Life (Fixed), and Annuities. Some of the Products Administered by CFA include:
  1. Whole Life policy with a 5, 10, 15, and 20 year endowment Annuity fund rider
  2. Endowment Policies
  3. Term Life Policies
  4. Single Premium Whole Life with inflation protection 5 Pay and 10 Pay Whole Life
  5. Fixed, IRA, Roth IRA, and TSA Annuities with commissions paid out at each anniversary based upon fund value (trailer commissions)
  6. Final Expense Whole Life
  7. Modified Premium Term to Age 100
  8. Advance Commissions / Earned Commissions
  1. Riders Supported:
    • Waiver of Premium
    • Accidental Death Benefit
    • Guaranteed Insurability Option
    • Monthly Disability Income Benefit
    • Critical Illness
    • Term Rider
    • Child Rider
    • Annuity Fund Rider
    • Waiver of Annuity Fund Ride
  2. Premium Sell
  3. Qualified and Non-Qualified Annuities


Support Systems

CFA utilizes and supports the Abundant Dynamics (AD) Administration System as its primary insurance processing engine.

The Abundant Dynamics consist of a table and engine driven platform. The goal is to reduce the need of high priced technical support and put more power into the hands of those with business experience. The application systems horizontally support the following:
  1. Security layer protecting data and access to information
  2. Document Support providing extensive security and support of image documents, letters, and correspondence, scanning, and import of pdf files
  3. Workflow and distribution providing extensive security and support of table-driven processes and tasks
  4. AD-Risk for underwriting workflow, support and communication
  5. AD-Agency an agents portal providing new applications, risk, policy, and producer information via the web to designated producers and agencies

  6. AD-Life which supports and provides for:
    1. Security controlled by user to access, process, and view specific information
    2. New Business
    3. Policy Owner Support
    4. Producer Support
    5. General Ledger Support


New Policy Applications

New Policy Application working hand-in-hand with the underwriter.

  1. New Applications to Administrative System
  2. Agents can submit policies via AD-Agency to the administrative system
  3. Applications sent to CFA will be added to the administrative system
  4. Online validations are performed (ie. agent contract and license, application's state approval, plan parameters)
  5. The policy is made available to the underwriter via the AD-Risk system.
  6. Applications requiring additional underwriting will be tracked and monitored via AD's "workflow" support
  7. Via "workflow", CFA will be notified of any policies the underwriter approves as applied for, approves with modifications, declines, or withdraws


Policy Issue

Policy Approval: the underwriter notifies CFA via workflow

CFA will issue policy:
  1. Policies, for which the initial premium has been deposited the client's lockbox and on which the underwriter has approved, will have the status changed from pending to active
  2. Generate policy and cost disclosure for print
  3. Any outstanding requirements from policyholder or agent will be generated and retained
  4. Generate both standard and free form policy amendments as required by client

CFA will assemble, proof, and mail all new policies to the agent or policyholder as noted by transmittal. The administrative system will generate a delivery receipt and maintain follow up reporting until signed receipt is returned. The administration system generates all premium accounting and commission entries. Policy exhibit detail is generated.


Billing and Collection

CFA will process billing (including notices and electronic funds transfer), collect premium income (through client's lockbox, credit card or debit card), receive daily bank lockbox deposit information and all returned premium payment stubs, process premium accounting entries, and generate reinsurance tracking detail.

CFA will generate the following reporting daily:
  1. Billing Register
  2. Suspense Register
  3. Policy Accounting Reports
  4. Ledgers, Premium Accounting Journals
    1. Premium income
    2. Commission expense and credit to agents account

CFA balances daily ledgers and reports cash transaction totals to clients on a pre-defined frequency.


Policy Service

CFA will receive correspondence and/or phone calls from the policyholder:
  1. As a client, you will install a phone line in the CFA office, which will be used only for customers of our client
  2. CFA will answer the phone as an employee of the client and will field any routine requests for policyholder service and direct all other inquiries to the appropriate entity
CFA, using the administrative system, will process client-related changes:
  1. Name and Address
  2. Beneficiary / Owner
  3. Add or change assignments
  4. Other client related changes
  5. Correspondence on demand using system generated standard letters
CFA will process policy changes and benefits related to:
  1. Loans
  2. Surrenders and / or withdrawals
  3. Premium Refunds
  4. Increase / Decrease face amounts
  5. Non-forfeiture Processing
  6. Other policy related changes


Other Daily Support

CFA will also generate the following reports/extracts daily which include (but are not limited to):
  1. Account Trial Balance
  2. Agents Trial Balance
  3. Check Extracts
  4. Issued Check Register
  5. Commission Journal
  6. Agent Overdue Premium Report
  7. Status Change Report
  8. Policy/Agent Follow Up Report
  9. Pending Business by Application Date
  10. Pending Business by Status Date



CFA receives notification of death claim (future workflow process created to track and support)

  1. The status of the policy is changed on the administrative system from active to death notified
  2. All billing and collection are automatically restricted
CFA forwards the following to our clients:
  1. Current status of policy
  2. Date policy is paid to
  3. Loan balance
  4. Any additional system information available, such as assignment and beneficiary
  5. The original policy file folder including application
  6. All Department of Insurance complaints, attorney demand letters, and all other claims, demands, subpoenas, and all other such notices

Our clients make the final decisions on claims and issue claim checks, and then notify CFA that the claim has been paid. CFA will change status on the administrative system to paid death claim, and the administrative system will create a reinsurance status change.



CFA provides for periodic reports which include (but are not limited to):
  1. Monthly policy registers (Suspense & Loans)
  2. Accounting journals (disbursements, receipts, policy, ledgers)
  3. Ledger extracts
  4. Account and Agent Trial Balance reports
  5. Commission statements
  6. Ledger trial balance
  7. Policy exhibit
  8. Other management extracts or reports as defined during initial setup


Special Requests

CFA provides for on demand special requests which include (but are not limited to):
  1. State Insurance Department special on request reports / extracts
  2. Actuarial special reports / extracts
  3. Provide sampling of applications for underwriting audit review
  4. Corporate internal audit support
  5. Ad hoc reporting / queries to aid all departments / entities
  6. CFA's Administration System resides on a database widely used in the marketplace with flexible ODBC connectivity. Essentially, database files can be provided to the end user meeting the requirements for their own spreadsheet/report definition ad-hoc reporting. They can be provided in various formats (ie. Excel, Access, MSSQL, MYSQL, etc.)