Reinsurance
The Reinsurance module provides a set of functionalities that support reinsured risk management for life and non-life products and their transfer to a reinsurer.
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Standardized and flexible reinsurance
Reinsurance module functionality allows you to define and manage maximum retention limits, manage reinsurance treaties and facultative contracts, identify, and allocate reinsurance risk, report premiums and claims in bordereaux and manage accounts.
The platform’s comprehensive flexibility allows you to use the out-of-the-box reinsurance management functionality or adapt it to your specific needs.
The Reinsurance module is tightly integrated with other AdInsure modules (Party and Organisation, Sales and Policy management, Claims, Accounting, etc.) leveraging them as a source for its reinsurance processes.
Key features
Reinsurance contracts
Support for proportional and non-proportional treaties and facultative contracts and the ability to create different types of contracts: quota share, surplus, excess of loss, catastrophe XL.
Maximum retention limit (MRL) definition
Policy coverage-based grouping based on various rules (sales channel, line of business) for the process of identifying quote/policy risk.
Risk identification and allocation
Risk attaching and Loss occurring during base reinsurance support upon Quote/Policy entry and Claim registration.
Manual reinsurance underwriting
Support for manual risk underwriting process where reinsurance Risks identified with no sufficient treaty coverage are to be issued.
Reinsured claims allocation and management
Claims to be reinsured are linked to the cessions and displayed with the corresponding data.
Risk reinsurance
Support for either manual reinsurance or automated when a matching treaty is identified.
Risk-sharing algorithm
Automated calculation of cession amounts based on the allocation of risk to reinsurance contracts.
Bordereaux management
Configurable predefined templates for premiums, UPR, and claim reporting.
Line-of-business support
Support for the reinsurance of non-life and life products.