Transformation of Social Security Services by PREVIRED
PREVIRED is a private corporation founded by Pension Fund Administrators in 2001 to streamline social security obligations electronically. Over the years, it has evolved to provide various services, enhance communication, and ensure data security. With a redefined mission, PREVIRED offers innovative solutions and back-office services for seamless transitions between AFPs, contributing to a more efficient and collaborative social security system in Ghana.
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PREVIRED Providing Social Security Services July 4th, 2019 Accra, Ghana Esteban Segura Revello Chief Executive Officer
THE NEED All Pension Fund Administrators decide to evaluate, how to provide a service where the employer can fulfill all payments requirements, regarding social security obligations, in one place and electronically (Fund transfer). 1998
2001 PREVIRED WAS LAUNCHED Private Corporation Founded by all Pension Fund Administrators (AFP) Each equity package was related to market share Neutral to market competition between AFP Provide same collecting service to all Social Security Players Including Public and Private Institutions.
PREVIRED GOVERNANCE BOARD: President Members of the board are chosen by AFP Shareholders Audit Committee Director Director Director Director 2 years as Board Members ADMINITRATION: First woman to become President of the Board, CEO Mrs. Diana Berstein, AFP COO Controller COO CCO CTO CFO
2008 PREVIRED STARTS PROVIDING NEW SERVICES Due to a successful electronic payment system Many more needs to improve common process in all Social Security players. A Strong Communication Network was developed, and used by all players. More and New Services were Developed High levels of Information Security Systems High levels of Business Continuity Internal Software development Capabilities New regulations that pushes for collaborative work among the institutions
OUR MISSION WAS REDEFINED To provide services related to Social Security by using innovative technology, secure and high quality solutions, considering the social impact of these solutions. New Features New Kind of Services E-Payments - Switch BPO E-Notifications Certificates Collecting
BPO Backoffice Services Electronic Affiliates Exchange: Situation to be solved: Every time an affiliate wants to leave his AFP to become client of an other one, he needs to have online information from his former AFP. The problem is that the affiliate is interacting with the new AFP (website). This occurs 24,000 times a month between 7 AFP. Solution: To develop an electronic platform that allows the affiliate to identify with different secure mechanisms, and exchange due information in order to fulfill the exchange transaction without problems, online and according to regulatory aspects.
BPO Backoffice Services Historical Movements Database : Situation to be solved: Through their labor life, affiliates may change from one AFP to an other one, as many times as they want. Also in time some AFPs might merge or just run out of business. The problem with this is that all movements information related to their fund must be guarded to be used to calculate future pension. Solution: To keep a centralized data base that receives all affiliates information from the former AFP, custodies it in time and let the new AFP access to it in order to provide a complete service to his new affiliate.
Debt Collection E-Law Suits: Situation to be solved: Monthly more than 30,000 law suits are presented to 212 Court Houses in Chile because of Provident Debt of employers with their workers, that AFP must legally pursue. This process was done by a lot of people, with lots of paper, using a lot of time, and overloading Court Houses work, that received most law suits the same day, producing errors and loss of information. Solution: A unique electronic law suit format was developed under The Electronic Signature Law. All Court Houses were interconnected to the 7 AFP. An electronic process of presenting demands was settle, including electronic signature of AFP representative and designate lawyer.
CONCLUSIONS We are a private corporation. Competitors are at the same time owners and costumers. To reduce processing cost and to provide services related to Social Security. Nowadays we have over 50 different services among 5 mainstream services aim to all type of Social Security organization in Chile. We believe that any Social Security issue is able to be endorse with a collaborative spirit and by using innovative technology to serve affiliates. Clear rules and regulation are a must.
