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After 5 years of careful and rigours research, preparations and development, the moment had finally arrived for Inca to start its journey. The demands were set high. The system had to be state of the art and offer scalability and long-term endurance. It had to be flexible for new circumstances as well as be able to meet individual requirements. With a completely new standard for administrative insurance systems set to meet the industry’s new challenges and needs, the market interest became intense. The adventure could begin.

Inca was equipped for pension schemes and prepared for new business opportunities. The insurance companies had a solution that provided a linked structure when handling pension schemes. The possibility to easily and efficiently handle large volumes of employees considering pension agreements, benefit groups, individual selections, freed premiums and leaves of absence, gained central importance for the continuous development of Inca.

The timing was right for a retake regarding Inca handling of mutual funds to meet the high current requirements and prepare for future needs. Substantial improvements in functionality and logic were implemented. The target was to enable new business opportunities, minimize cost and risk for the insurance companies as well as secure a high degree of automation with high performance. Other important factors in the new solution was excellent support for configuration and correct, clear and tractability.

Inca 4.0 was now equipped with a series of strong functions regarding mutual fund administration: Self-regulating trading inventory with the possibility of minimal fund inventory, refined fund trading, portfolios and enhanced management of fund purchase and re- purchases. Handling of funds and custody's in the same insurance. Monthly-traded funds and improved support for retroactivity.

In 2012, the administration of payments was thoroughly changed in Inca. Basic demands for payments are traceability, financial control and zero tolerance for errors. Our customers received much more efficient handling of large volumes of payments thanks due to a new high-performing payment engine. Now all types of payments could be managed in one system automatically. All previous special handling regarding payment returns, recoveries, conversions and reversing were easily handled in the new payment engine. Inca was ready to handle hundreds of thousands of payments each month.

Inca is in connection with release 12.3 designed to handle over 600,000 payments each month. Much effort has therefore been invested in improving the performance for payments in Inca, in order to automate the flows that are created related to payments. Processes and systems surrounding the payment have been upgraded to handle larger volumes and quantities of information.

Inca is equipped with cash settlement reconsolidation on all payment streams. It gives full control of all transactions on the bank account, creating order of all incoming and outgoing payments as well as fund trading. Inca is 100% reconciled against bank accounts that simplifies financial statements and audits. The settlement controlled trade will be done faster and safer with fewer manual errors. It also enables fraud prevention due to expected settlements.

I 14.3 introduces liquidity selection, which means that Inca is fully reconcilable with the insurance company's bank accounts.

Inca's cash handling is delivered in 14.3 as a package, which includes fund offering objects.

Migration of insurances is high up on the agenda for the industry. Inca is now taking further steps to automatically merge insurances in conjunction with imports according to certain conditions. The possibility exists for negotiated pension and the transfer process for ITP, KAP-KL and SAF-LO. The policy holder gets less insurances and a better overview and the insurer less cost for administration and maintenance. Inca is also ready for further deregulation of the legislation around the domain.

Improve reconciliation
Make the invoicing process more easy to understand and manage
Enhance the traceability of the monetary flows

Invoicing and payments has been our the focus in this release. Two core areas in any life insurance company. Our goal has been to improve reconciliation for better control, as well as creating a smart and efficient invoicing process. This new functionality also increases traceability to improve monitoring of cash flow.
Other enhancements added is include a further automated rules engine that makes managing procurements easier, and the introduction of fixed rates in cash handling.

The introduction of additional invoicing concepts, which enables different handling during unpaid invoices.
Full traceability of payments, which simplifies reconciliation of for instance unplaced payments.
Retroactive changes of the agreed premium is now clearly stated on respective insurances on the invoice specification instead of using credit and initial balance.
Fully automated handling of surplus, including repayment, if the customer pays an excess amount or a credit note occurs.
Possibility using procurement to provide independent risk insurance.

Each new release we develop involves a modernization of Inca that always improves function and increases the power of digitization for users. In the release Inca 17.1, we have taken a step further than usual. This time we have gone deep into the system and breaking new ground. We have completed a total renovation and modernisation of the part handles pension schemes.

The result is a radical change that gives you faster processing and easier administration.

Company Pension Schemes (Group Pension) are common in the Nordic market. In Inca 17.1 we have improved the handling of individual choices of benefits improving policy issuance and ongoing policy administration.

In addition, the functionality supporting The Foreign Account Tax Compliance Act (FATCA) has also been improved. FATCA is a US regulatory framework aimed at counteracting US tax evasion

The new Interactive Help feature enables smart guidance and effective skills development. Current and relevant information can easily be published for quick access directly from Inca. Users can access both online-based and interactive guides whenever they need it.

Interactive help also provides monitoring options through tests and feedback.

With the new Interactive Help feature, it becomes possible to implement interactive user manuals, educational materials, and electronic documents that can be accessed directly in the application. These can either be made universally available or linked to specific processes in the system (context-sensitive help).

The future looks bright for all users on the internet. The protection of personal data has been strengthened and the transparency becomes total. The GDPR or the General Data Protection Regulation will be enforced beginning on May 25, 2018. From day one, our customers will meet all legal requirements with respect to the protection of their customer data. The important thing through all of this has been in the interpretation of these new regulations which is why we have worked closely with all of our customers to make sure that we have done all that is necessary to protect their customers' data. Inca 18.1 contains anonymization and deletion of personal data so that only the relevant information remains. In addition, individuals can easily obtain a register with the information available to our customers.

GDPR
Diagnostic insurance
Improved support for separate occupational pension operation
Extended functionality for traditional insurance with different guaranteed amounts
Concepts in mutual funds for other savings product than unit-linked insurance

With the new release Inca 18.3, we connect to the world and reduce the administration for the Swedish insurance companies.
Every year, the insurance companies need to check if Swedish citizens are live abroad, have gone missing or does not respond. Min pension is therefore calling or sending letters to 147,000 Swedish pensioners in 171 countries, with ongoing pension payments, just to confirm that they a still alive.
The answer is registered with the Swedish Social Insurance Agency - Försäkringskassan. Inca 18.3 makes it possible to automatically retrieve these certificates of life.
Now all this cumbersome work is obsolete. Inca continuously retrieves information from the Social Insurance Agency. It is a subscription service and in order to use the service, you need to sign an agreement with the Social Insurance Agency.

A whole new standard

Inca users