An InvestLink product is typically a hybrid between a unit trust offering coupled with a life insurance product and represents the participation of many life insurers in the unit trust market.

XyLog has developed a comprehensive Xy-InvestLink solution to cater to such organisations which offer such InvestLink product. The Xy-InvestLink system provides the solution to manage the key business processes of an Investment Link operation which includes Unit Registration, Investment, Insurance Management, Settlement and Accounting. XyLog would work hand-in-hand with you to customise and integrate the Insurance Management module to your insurance product features. In addition, the Xy-lnvestLink comes with an optional imaging and workflow feature which scans and manages frequently accessed physical documents in the Investment Link operations to facilitate multi-user access and retrieval of paper based information.

Technology Profile
The solution is developed based on a client-server technology platform designed to provide users with a flexible, scalable, easy to use and intuitive system."

How XyLog can assist you
If you are planning to set up an Investment Link fund, XyLog can help you establish the entire Investment Link operations. Our capacity to offer you business operations establishment services along with our Xy-InvestLink systems implementation and customisation make us a good and potential business partner in your fund set-up endeavours. We can assist you define and facilitate the execution of the preparatory activities leading to the launch of your Invest Link product.

We assist organisations undertake the following key establishment activities:-
Establishment of Unit Registration Organisation Structure
Unit Registration Operations Definition
Operational and Systems Procedures Development
Agency Structure, Profile, Recruitment and Training
Investment Link Financial and Accounting Management Information Systems Definition
Systems and Procedures Training
Unit Registration Operations Supervision Assistance and
Computerisation and Software Implementation Services for Investment Link Operations.

Functions
The Xy-InvestLink System enables Investment Link Managers with the capabilities to maintain investors' accounts, undertake transaction processing, maintenance of investment certificates and policy statements, production of documents, bonus and dividend distributions, sales agency maintenance as well as flexibility in reporting.

Main functions provided are:-

* Policyowners' Account Maintenance
These functions maintain investor's account information as well as investment transactions such as sales (for single and annual premiums), redemption (part and full surrender, and death claim), transfer, switching and reversals. This application module also allows the maintenance of promotion scheme and auto calculation of promotion bonus based on user defined rates.

The Xy-ILS also handles creation of savings plans for investors. In addition, the Xy-ILS also track investor's ledger and current holdings in single or multiple funds, and the generation and maintenance of unit certificates including splitting, merging, replacement as well as collateralisation or uncollateralisation to financial institutions.



* Transaction Processing
The Xy-ILS has the functionalities to automate the various business processes undertaken in the investment link operation. Some of the key product features includes :-

Switching Between Funds
Policyowner have the flexibility to switch part or all of their investment between the Funds as they feel appropriate. The Xy-ILS automate the internal processing of fund switching and the computation of switching fees.

Single and Annual Premium
An investment link product can be a single premium product or an annual premium product as required by the policyholder. The Xy-ILS provides the processing capability to address multiple purchases of policies and to effect deductions.

Redemption
Part or all the investment may be withdrawn by redeeming the units in a fund. The Xy-ILS automates the redemption function for part surrender and full surrender of the policy.

Benefits Processing
The Xy-ILS also undertake the processing of death benefits and Total and Permanent Disability Benefits, and the termination of policies.

Cooling Off Period Processing
Policy owners have the right to cancel the policy within the cooling-off period of the delivery of policy. The Xy-ILS automates the redemption of units at the redemption price of the fund and computes related fees initially charged that need to be refunded to the policyholder.

* Income Distribution Processing
The income of an investment link fund may be made up of dividends, interests and other distribution paid on the Fund's investment in other trusts, and gains and losses made from the sale of investment held by the fund. This income of a fund is effectively distributed to policyowners periodically through automatic reinvestments of income as it is received.

The Xy-ILS provide the functionalities to undertake the distribution of dividend or bonus units to all policyowners registered with the fund upon distribution date. The processing of entitlement is computed based on the number of investment units held which includes the cum-dividend and user-defined rates. The Xy-ILS would also generate the necessary tax warrants and statements to the policyowners informing them on the income distribution. The Xy-ILS also provide a bank reconciliation module to automate the bank reconciliation of dividend warrants.

* Query, Analysis And Reporting Modules
The Xy-ILS utilises the BRIO Technology to give users a complete, fully integrated business intelligence solution. It provides a complete solution that moves users through query, analysis and reporting facility using intuitive users interface.

In tandem with BRIO, the Xy-ILS provides extensive ad-hoc and periodic, management as well as statutory reports to the Investment Link Managers. Reports can be viewed online before being printed. Specific customisation can be undertaken to BRIO Tabular "Pivot" Analysis feature to allow underwriter quickly and effectively carries out a series of assessments including examine the life assured age, sum assured, occupation, moral hazard, and health disclosure to determine the policy premium.



* Forms and Notices
The Xy-ILS captures all the information required to undertake the processing requirements of investment link. Once the application has been processed, transaction statements can be generated and forwarded to the policyowner confirming the premium invested, the initial service and administration fees deducted, the mortality charge deducted, the number of units issued, the issue price and the date the units were issued. In addition, the amount of the death and TPD benefits can be shown.

* Calculation Of Prices, Fees and Expenses
The Xy-ILS allows the funds to be value the investments and calculate the unit price for each fund on a daily basis on each business day. The net asset value (value of the fund investment and cash held less a deduction for the management fee, less the liabilities of the fund, including any provision for future liabilities) can be computed daily utilising the Xy-ILS unit pricing feature and the Xy-Portfolio Management System (Xy-PMS) for the valuation of investment assets. The Xy-ILS would compute the proposed issue and redemption price based on agreed management practice.

* Agency Module
This module enables the Investment Link operators to manage its institutional and retail sales agents in multi-tiered environment by providing comprehensive functionalities in the area of registration, promotion of agents, tracking of sales performance and calculation of commission.

* Insurance Management
The insurance module in the Xy-InvestLink System is an integrated life insurance and investment link management information system. It allows parameters such as age limit, maximum and minimum coverage and multi-tier coverage environment and performs computation of amount of insurance coverage needed.

The system provides extensive underwriting information on the policy owner's age, sum assured, occupation and moral hazard, health and policy premium that allows underwriter to review the risk without accessing to underwriting tables.

The system is also capable of extracting data from the core life system to satisfy customer enquiry in terms of policy status, claim status, policy coverage, payment and transcation listing.

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