THE REINSURANCE INTELLIGENCE SYSTEM
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1 THE REINSURANCE INTELLIGENCE SYSTEM Are you ready to take full control of your reinsurance program? The combination of Reinsurance Capabilities and Business Intelligence the Industry has Been Waiting For
2 THE REINSURANCE INTELLIGENCE SYSTEM The combination of Reinsurance Capabilities and Business Intelligence the Industry has Been Waiting For. ISSUES Facing the Industry In a series of essays published by leading magazines, InsurTech Global CEO, Joseph Sebbag, pointed out the various inherent risks associated with the lack of a modern reinsurance system, namely: Insurers' numerous, intricate reinsurance contracts and special pool arrangements, countless policies and arrays of transactions, create a massive risk of having unintended exposure. The inability to ensure that each insured risk has the appropriate reinsurance program associated with it is a recipe for failure. Having disjointed systems-a combination of policy administration system (PAS) and spreadsheets, for example-or having systems working in silos are sure ways of having risks fall through the cracks. The question is not if it will happen, but when and by how much. What's more, a mixture of fragmented solutions and manual processes is the worst formula when it comes to audit trails. This is particularly troubling in an age of stringent standards in an increasingly internationally regulated industry. These issues are compounded by the fact that insurers have traditionally relied on veteran professionals adept at managing reinsurance using spreadsheets. However, according to numerous surveys, experienced reinsurance administrators are either retiring or leaving insurers Reinsurance is multifaceted, and less experienced people will need the features of a modern system to help them deal with the complexity. R.I. The Reinsurance Intelligence SOLUTION There is a bright side. The Reinsurance Intelligence System was specifically built to fully address these industry-wide issues and help reduce risks to an absolute minimum. The R.I. System is a modern Property & Casualty reinsurance administration solution that is intended for insurers, reinsurers, and brokers. It is a highly flexible and comprehensive solution, engineered to handle the most unique and complex reinsurance structures and/or requirements. 1
3 Implementing the Reinsurance Intelligence System will enable Insurers, Reinsurers, and Brokers to reap the extensive benefits the R.I. solution has to offer, such as: Comprehensive support for all types of reinsurance covers, such as: Proportional and non-proportional contracts Treaty, facultative and facultative obligatory Out-of- the Box handling of: Written, Earned and Unearned Premiums, Ceded DAC Swing rated Premiums, Deposit Premiums, IBNR s and funds Withheld. Automated attachment and calculation of Ceded: Premiums, Losses, LAE s, Reserves Commissions, Sliding Scale and Profit Commissions Dedicated Ceded, Assumed and Retroceded Billing Module for complete management and tracking of all: Account Payables and Receivables, Cash Application as well as Funds Withheld Automatic calculation of: Claims Recoverable and Cash Calls o including Aggregate XS, CATS and Clash Covers And Automatic generation of notice of loss and billing. Ceded, Assumed and Retroceded Treaty management for Intercompany, Pools, and Affiliates. Full audit trail and thorough controls, which ensures that all compliance and audit requirements are met and maintained Complete US and European regulatory reporting for: Schedules F & P Solvency II Easy integration with existing client system environments Cutting-edge browser-based user interface design, which leverages the latest trends in usability and human factors engineering, radically minimizing the learning curve Multi-lingual, multi-currency system that is adapted to today's global market Flexible deployment and pricing models: 1. On site / On Premise 2. Fully Hosted Solution 3. SaaS 4. Hybrid Model 2
4 No system will be complete without a modern Business Intelligence & Analytics capability The Business Intelligence Challenge! All good business administration and risk management begins with an understanding of the current state of affairs. Hence, in order to effectively manage and improve its reinsurance operations and monitor regulatory compliance, an Insurer or Reinsurer will need to know its current position via some form of comparative, indicative metric. In addition, they will need to know the relative importance of each metric, especially as it relates to the company s goals. Currently, for many Insurers or Reinsurers, knowing even a portion of these metrics is challenging: knowing them all is quite problematic. No longer! With the Reinsurance Intelligence Solution, Executives are given ALL the latest tools to effectively and efficiently manage their overall reinsurance operations, such as: Extensive Real-Time Dashboards: Our Dashboards will provide Insurers and Reinsurers with a unified display of relevant, contextual information. Unlike reports, which tend to contain a fixed amount of information, Dashboards deliver on demand real-time information In-Depth Analytics with Real Time Updates: Our Analytics will enable Executives to gain meaningful insight from their data, which will enable them to properly manage and drive their organization forward. These tools will allow Insurers and Reinsurers to perform and/or generate: Key Performance Indexes Profitability Analysis Trending and Forecasting Triangulations What-If scenarios Portfolio & Claims Monitoring and Evaluation Overall Reinsurance Exposure: Account Balances, UPR s, Claims Reserves, etc... Comprehensive Risk Assessments And much more Additionally, numerous out of the box standard reports are available and custom ones can be tailor made upon request. 3
5 Are you ready to take full control of your reinsurance program? Please contact our teams! North American Markets Latin American Markets International Markets Dallas Pkwy # Royal Palm Ave. 12/14, Rond-Point des Champs- Élysées Addison, TX Miami Beach, FL Paris France (877) (877) info@insurtechglobal.com latam@insurtechglobal.com im@insurtechglobal.com
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