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FINANCIAL SERVICES
The NextGen group was founded by professionals from the Financial Services Industry and as such this industry has always been closely aligned to the development of the company. NextGen is able to consult on every aspect of technology use within the Financial Services domain.
Life Assurance
NextGenís consultants have extensive knowledge and experience within the Life Insurance industry having being involved in every aspect from product development, product implementation, system implementation, bespoke and custom development of commissions modules supporting aggregation of broker policyholder data, reporting solutions for deployment of data to broker networks and policyholders as well as the development of and implementation of Core Administration systems. NextGen has experience both in the risk based and investment based product lines. Product knowledge includes conventional annuities, retirement annuities, risk cover, investment linked endowments and preservation fund policies and rating modules. This knowledge leads to efficient technology solutions and project execution as the dependency on the user community is minimised during the project execution phase of any project.
Employee Benefits
Within the Employee Benefits industry, NextGen has lead projects implementing systems to support Pension Fund Administrators, Group Life Assurerís and many other group type arrangements. NextGenís consultants have extensive knowledge of Pension Fund and Provident Fund arrangements both in Defined Benefit and Defined Contribution funding methods including Individual Member Choice in the Risk and Investment channels. Both the privately administered and umbrella businesses are well represented. In the Group Risk business, knowledge includes Group Life, Credit Life, Bancassurance, Dread Disease, Income Disability and Capital Disability product lines. Group Savings Schemes have also been implemented.
Collective Investment Schemes
Within the Collective Investment Schemes industry, NextGen has skills in implementing Unitised Liability Administration systems, Reporting Solutions, Web Portals for Brokers and Unitholders / Investors, Custom Commission modules and Data Warehousing solutions. NextGen has an excellent skills base for the iflex-solutions unitization engine FlexCube Investor Services.
Asset Management and Fund Pricing
NextGen has an extensive skills base and knowledge in the Asset Management and Fund Pricing industry.
In our experience we have found that the primary frustration customers have with technology consulting in the Financial Services industry is a lack of business knowledge and understanding by the consultants even though technically, they may be very capable. For this reason all our consultants are versed in the business domain they consult in and if not, NextGen will mentor, train and support the consultants until they are sufficiently proficient in the business domain they are to be deployed in.
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