Established in 1993, Sigma Risk Solutions (Pty) Ltd has been a stalwart in the short-term insurance industry for over three decades. Our journey began with a commitment to providing exceptional professional services tailored to the unique needs of our clients. Over the years, we have evolved and grown, continually adapting to the changing landscape of the insurance industry.
In 2005, we took a significant leap forward by introducing our innovative Claim Administration and Risk Management Software-as-a-Service (SaaS) solutions. These systems are designed to streamline the entire claims process, enhance risk management, and improve overall operational efficiency. Our SaaS solutions are highly regarded in the industry, having received numerous accolades from clients and external audit teams for their effectiveness and reliability.
One of our greatest strengths lies in the strong, long-lasting relationships we have built with our clients. Many of our client partnerships span decades, a testament to the trust and satisfaction they place in our services. We believe in fostering a collaborative approach, working hand-in-hand with our clients to ensure their ongoing success.
Our SaaS systems are utilized by a diverse range of clients, including Insurers, Brokers, Financial Service Providers, and direct Clients. These systems are crafted to be flexible and scalable, ensuring they meet the specific needs of each client. By automating and optimizing various processes, our solutions help reduce administrative burdens, speed up claim resolutions, and improve overall productivity.
At Sigma Risk Solutions (Pty) Ltd, we are dedicated to delivering top-class systems and services. We work closely with our clients to understand their unique business requirements and provide tailored solutions that drive success. Our commitment to excellence extends beyond just our products; it’s reflected in our unwavering dedication to customer service and support.
As we look to the future, Sigma Risk Solutions (Pty) Ltd remains at the forefront of innovation in the insurance industry. We are continually investing in research and development to enhance our existing solutions and explore new ways to serve our clients better. Our goal is to stay ahead of industry trends and provide cutting-edge solutions that meet the evolving needs of our clients.
Join us at Sigma Risk Solutions (Pty) Ltd and discover how our legacy of excellence, innovative solutions, and unwavering commitment to customer satisfaction can transform your insurance operations. Together, we can navigate the complexities of the insurance industry and achieve lasting success.
SRCAS is a robust solution designed to streamline and automate the claim administration process across all classes of insurance. Tailored for Insurers, Brokers, Third-party Administrators, and organizations managing their own claims, SRCAS efficiently handles all aspects of claim management.
SRCAS supports the entire claim lifecycle, significantly reducing turnaround times, enhancing productivity, and lowering administrative costs.
The consolidated home screen and dashboard provide a centralized hub for all claim administration activities. Key features include:
The dashboard offers graphical representations of critical metrics such as claim count, cost analysis, paid versus outstanding claims, claim delays, recovery and salvage analysis, external contributions, motor duplicate claimant tracking, and handler performance metrics.
SRCAS defines organizational structures including hierarchical arrangements, cost centres for data grouping, and preferred service providers and underwriters. Key functionalities include:
This module defines insurance programs and settlement policies with customizable structures for deductibles, limits, and aggregates. Features include:
Claims are seamlessly linked to operational hierarchies and settlement policies, facilitating easy data entry and management across diverse insurance classes. Features include:
SRCAS offers dual control for transaction authorization and supports multiple bordereaux states for streamlined claim settlements. Key functionalities include:
SRCAS offers user-customizable Excel exports and a Data Export interface for tailored reporting. This includes:
SRCAS features a robust Role-Based security infrastructure, ensuring controlled system access based on role assignments. Key security features include:
SRCAS includes real-time identity validation, tracking capabilities for claims and vehicle-related data, and support for VAT inclusive and exclusive data capture.
SRCAS is a web-based SaaS system compatible with all major browsers and operating systems. It requires no additional hardware or software beyond a web browser, ensuring easy access from any internet-connected device globally.
Data entry screens with customizable drop-down fields and validation rules streamline claim management, enhance efficiency, and ensure data integrity.
SRCAS is designed to meet the unique business requirements of each client, providing a secure, efficient, and user-friendly platform for managing insurance claims comprehensively.
SRIIS is a state-of-the-art SaaS-based digital risk register designed to cater to both flat and hierarchical organizational structures, including international operations that span multiple currencies. It offers a sophisticated and customizable solution for managing risks across various domains within an organization.
At its core, SRIIS classifies risks according to user-defined Risk Types, such as Operational Risk, Compliance Risk, IT Risk, Tax Risk, etc. This flexibility allows organizations to create tailored Risk Registers that meet their specific business needs.
Risks are normalized based on unique Risk Tolerance values for each operation or division and Risk Type. This normalization process involves evaluating:
Risks are categorized and stored with Untreated Risk and Residual Risk values, which produce a final Risk Rating ranging from Low to Critical. This enables baseline comparisons across different operations with varying Risk Tolerance values.
In hierarchical organizational structures, risks are classified at the “child” level (Primary Risk) and rolled back through the hierarchy to the root, creating a Subordinate Risk at each level. Subordinate Risks are re-categorized by Untreated Risk and Residual Risk values, generating a Risk Rating based on the Risk Tolerance value for that level and Risk Type. This includes currency conversion using a detailed user-defined Exchange Rate matrix, allowing divisions with multiple reporting operations to identify key risks efficiently.
Risks are grouped within reporting periods, enabling the tracking of Risk Rating progression or regression over time. This historical tracking provides insights into the effectiveness of risk management strategies.
Risk data is created and updated on a real-time basis, and system-generated Risk Registers can be produced instantaneously. This ensures that organizations always have up-to-date information on their risk landscape.
SRIIS features a robust Role-Based security infrastructure, defining named users and associated system access based on role assignments. Credentials can be further restricted to limit access to specific operations and/or Risk Types, ensuring that sensitive information is only accessible to authorized personnel.
SRIIS provides a comprehensive, flexible, and secure platform for managing risks within diverse organizational structures, ensuring that businesses can effectively monitor and mitigate potential threats.
We rely on high-performance Intel server hardware to ensure robust processing power and reliability, supporting our complex insurance operations seamlessly.
Our secure and stable Windows Server environment provides advanced security features, safeguarding sensitive data and ensuring smooth operational continuity.
Hyper-V technology optimizes resource utilization and flexibility, enabling dynamic scalability to meet evolving business needs efficiently.
Our systems are delivered from Dimension Data’s advanced data centres, strategically located and equipped with state-of-the-art facilities. These data centres feature redundant power supplies, advanced cooling systems, robust network connectivity, and biometric access control. By leveraging Dimension Data’s infrastructure, which includes biometric access control, we ensure maximum uptime, reliability, and security for our clients' critical insurance operations.
We implement Veeam solutions for reliable backup and disaster recovery, including FirstNet Veeam Off-site Backup and Veeam Disaster Recovery as a Service (DRaaS). These solutions ensure data integrity, facilitate rapid recovery in emergencies, and support business continuity, providing our clients with peace of mind and operational resilience.
Sophos XGS serves as our gateway to SaaS systems, offering advanced network security capabilities. It provides robust firewall protection, secure VPN access, and real-time threat intelligence. Sophos XGS ensures that our clients' data and applications are safeguarded against a wide range of cyber threats, enhancing our overall security posture and ensuring compliance with regulatory requirements.
AVG Business defends against viruses, malware, and cyber threats, maintaining the integrity and confidentiality of our systems and client information.
Panorays constantly scans our security posture to assess and enhance our resilience against potential cyber threats and vulnerabilities. This proactive monitoring ensures that we maintain a robust security posture, aligning with industry best practices and regulatory standards.
At Sigma Risk Solutions (Pty) Ltd, our systems are delivered from a meticulously designed security platform that integrates cutting-edge technologies and best practices. We prioritize reliability, scalability, and data protection to offer peace of mind and ensure operational continuity for our valued clients.
