Reinsurance consists of four applications: Reinsurance Contracts/Treaties, Reinsurance Filter, Reinsurance Bordereaux and Claims Reinsurance.
Reinsurance Contracts module enables adding and modifying reinsurance companies, treaties and programs. The system intelligently suggests corresponding reinsurance treaties and programs for given risks.
- Managing Reinsurance Companies (add, edit and remove)
- Managing Reinsurance Contracts/Treaties
- Supports proportional or non-proportional reinsurance types (quota share, surplus, quota share surplus, excess of loss, stop loss)
- Supports obligatory treaties and facultative contract forms
- Managing Reinsurance Programs
- Select one or multiple treaties
- Set terms to match specific product requirements
- Exporting agreed formats of bordereaux (e.g. premium bordereaux, claim bordereaux)
- Fully integrated with Accounting and Finance, Underwriting,Claims Handling, Claims Reinsurance, Workflow Management and Analytics Dashboard modules.
Claims Reinsurance is facilitated through a dedicated section available to reinsurance department for easy access to and processing of remaining settled claims.
- Advanced search and filter tools to find the required list of claims
- Quick launch buttons for the most frequently used actions directly from the search screen
- Automatic calculation of ceded part of claims
- Assessment of claims reserves
- Manual or automatic application of Excess of Loss treaties
- Apply claim subrogation (recovery) to reinsurance
- Fully integrated with Accounting and Finance, Underwriting, Policy Reinsurance, Claims Handling, Workflow Management and Analytics Dashboard modules.