ELRAC. Quick Introduction

Transcription

1 ELRAC Quick Intrductin Release 18st f December 2015

2 Table f Cntents 1. General Infrmatin Minimum system requirements Lgin Custmize yur ELRAC Navigatin My ELRAC navigatin Applicatin generated messages System release...10 Cntracts Pending Cntracts Where the jurney starts Cntract detail screen Updates n an accepted cntract Treaty tab Facultative tab Technical Accunting Treaty Accunting Facultative Accunting Pending Transactins Transactin Histry...22 Claims Index Management and Reinstatement Management Create the Index Management Create the Reinstatement Management Nn-Prprtinal Claim Administratin Create a New Claim Update an existing claim Pending Transactins Transactin Histry...40 Financial Accunting Current Accunt...41 Page 2 f 49

3 Create a Financial Statement Pending Statements Transactin Histry Administratin Reprting Cntact us...49 Page 3 f 49

4 1. General Infrmatin Electrnic Reinsurance Accunting tl is a web-based applicatin which enables yu t prcess yur reinsurance business n the internet by using tailr-made templates. The basis fr an autmatic creatin f statements are shared cntract data and cmmn rules Mi n i mum s ys t em requi rem en t s ELRAC has been ptimized fr Firefx, Internet Explrer 9 r higher and all versins f Chrme. Minimum recmmended screen reslutin is 1024 x 768 Change f 'Cmpatibility View settings' in Internet Explrer: In case Internet Explrer versin is 9 r higher is installed and data is nt displayed in ELRAC, please ensure that the cmpatibility view mde is turned ff. In rder t achieve this, please click n 'Page' and then select 'Cmpatibility View Settings': Page 4 f 49

5 Remve any ticks frm the varius bxes: Further details regarding this tpic can be fund n the fllwing webpage: In case the issue still persists, please clse all brwser sessins, pen a new brwser sessin and delete the brwser cache. Descriptin f the necessary steps can be als fund n the fllwing link: Page 5 f 49

6 1.2. L gi n Please lgin via Swiss Re web site: And select: Please enter yur lgin data: The Lgin prcedure int the ld ELRAC versin remains unchanged. The User Name and Passwrd used remain valid. Yur stred brwser Bkmarks and Favrites fr ELRAC will be ruted t the new address. Page 6 f 49

7 1.3. Click n C us t mi z e yur E L R A C at the tp right crner and the fllwing screen will pen: Language ELRAC supprts English, French, German, Italian, Prtuguese and Spanish. Retakaful versin is als available. In case a term has nt yet been translated t the selected language, it will be displayed in English. Number Frmat Ideally the number frmat yu have selected in ELRAC is the same as in yur Excel settings. This leads t easier handling whenever a transactin is exprted t Excel. Default Number f Rws Defines the maximum f rws displayed per default n a screen. Selectable ptins are 15, 20, 25 r 30. Clr Settings ELRAC ffers tw clr schemes. Per default the screens are displayed in Gray. Alternatively they are als available in Light Blue. All changes made in the User Preferences sectin will take effect as sn as the buttn has been pressed and will remain valid fr the current and all future sessins Na v i ga t i n ELRAC ffers tw tab levels. The main tab sectin cnsist f the fllwing tabs: Page 7 f 49

8 Each main tab cntains varius sub tabs frm which wrkflws can be started. The number value in brackets relates t the number f recrds available n the respective tab. In the upper sectin f a sub tab screen varius attributes can be defined. When clicking n the buttn, the applicatin will identify matching results. A click n the buttn will set back the attribute fields f the Search Wrkbx and the attribute clumns t their default values. Set filter settings in each Search Wrkbx will remain valid during the whle sessin. Attribute clumns When clicking n a clumn header, the cntent f a clumn is srted in either descending r ascending rder. In additin, using the 'Shift' buttn allws srting f varius clumns. Sme clumns allw value entries fr which a search will take place in the respective clumn. Clumn headers cntain a 'muse ver' functinality which can deliver additinal infrmatin e.g. in case f term abbreviatins. Clumn values which cntain a hyperlink are underlined. Hyperlinks lead t additinal infrmatin r a wrkflw screen. Page 8 f 49

9 Fter sectin 1.5. My E L R A C n a v iga t i n The user can scrll easily t varius sub tabs when clicking n My ELRAC tab: When clicking n the Swiss Re lg, the applicatin will change t 'Pending Cntracts' tab which is predefined: When clicking n at the tp right crner, the tl will pen the fficial Swiss Re web-site with the general infrmatin abut ELRAC including the ELRAC Client Manual Applicatin generated messages Page 9 f 49

10 Whenever an errr message is triggered the errr cause needs t be reslved befre yu can prceed in the wrkflw. Besides the errr message n tp f the page mre detailed infrmatin is given near the field(s) which caused the errr message. Warnings are nt as severe as errr messages and require n actin in mst cases. An infrmatin pp up is displayed t ntify yu abut a specific wrkflw situatin System release The ELRAC applicatin is updated n a regular basis (usually twice a year) and release infrmatin is made available t all users accrdingly. Page 10 f 49

11 Cntracts Pen d i n g Cn t ra ct s W here t he j urn ey s t a rt s The precnditin fr the creatin f any kind f technical r claim transactin is an accepted reinsurance cntract (status: active). Whenever Swiss Re submits a new cntract, adds accunting units (AU) t an existing ne r mdifies previusly accepted values, the client (all registered active users) receives an ntificatin. Belw is an example f an which is created when a new cntract is submitted: Dear ELRAC User Please nte that the fllwing cntract requires verificatin: Marine Carg QS Yu will find the cntract under the "Pending Cntracts" subtab f "Cntracts" in ELRAC. Yu may als use the fllwing hyperlink t g directly t the cntract: <LINK> This is a system-generated . Kind Regards T verify a new cntract click n the available Hyperlink in clumn 'Cntract Name' C n t ra ct d et a i l s creen Page 11 f 49

12 The cntract Header sectin cntains infrmatin which is valid fr all further cntract sectins. When clicking n the Excel-buttn, the selected template will pen in an excel sheet (the whle cntract including all sub-accunts n Header level r a specific Sub-accunt template n Subaccunt level). Meaning f the Attributes Status: Pending still nt accepted; Active accepted by all sides. Quantity: Number f available Peridical templates fr the Accunting Perid (Accunts). Client Reference: Reference field fr client usage n AU level. Reinsurer Share: Swiss Re Share fr the crrespnding AU and Treaty Year (TY). Insured Perid: Duratin f Treaty Perid. Accunting Perid: Duratin f Accunting Perid (AP). All available cnditins fr the selected sub-accunt are displayed in detail n the next template belw and will remain unchanged fr the whle lifecycle f the treaty year: Page 12 f 49

13 The cnditins regarding Year-End Calculatins like Prfit Cmmissin, Sliding Scale Cmmissin, Lss Participatin, XL Premium Adjustment r regarding Prtfli Mvements are displayed n a Single template: Peridical templates usually exist fr 4 perids (quarterly), 2 perids (half-yearly) r 1 perid (yearly) and include the cnditins agreed fr the accunts: Page 13 f 49

14 After reviewing the cnditins n the template, the fllwing actins are pssible via buttn 2.3. Save as Draft - All perfrmed mdificatins will be saved. Accept - By selecting this ptin the client cnfirms his agreement with the cnditins and the cntract changes t Active status. Reject - This leads t a rejectin f the submitted cntract. A rejectin reasn needs t be entered. U p d a t es n a n a ccep t ed cn t ra ct Whenever updates are necessary n an accepted (active) cntract r part f it, a prcess will be initiated by reinsurer and the updated versin has t be reviewed and accepted by the client. Such cntracts are visible n 'Treaty' tab r n 'Pending Cntract' tab: Page 14 f 49

15 The mdified values cmpared t the last cntract versin are marked with a duble arrw sign. By using the muse ver this sign, the previus value entered fr the amended attribute will be displayed. Example f change f the Reinsurer Share and Prfit Cmmissin: 2.4. T rea t y t a b As sn as a new cntract has been accepted (Status: Active), it is available n the 'Treaty' tab and all crrespnding transactins are available n the 'Technical Accunting' tab fr entering. Page 15 f 49

16 2.5. F a cul t a t i v e ta b All accepted facultative cntracts are available n the 'Facultative' tab and the functinalities are similar t the 'Treaty' tab. Page 16 f 49

17 3. Technical Accunting All transactins available fr entry can be fund under 'Treaty Accunting' r 'Facultative Accunting' tab: Already drafted transactins are available n the 'Pending Transactins' tab: 3.1. T rea t y A ccun t i n g In general the transactins have t be entered in chrnlgical rder. Otherwise, when pening the transactin fr entering, the fllwing errr wuld appear and the submissin wuld nt be pssible: Page 17 f 49

18 Clumn Name Meaning LTY Fr peridical templates the highest treaty year is displayed in this clumn. In case f a single template, the referring treaty year is displayed LB Delivers infrmatin abut the invlved Line f Business (LB). Infrmatin entered in the 'Special Accunting Cnditin' field n the sub-accunt level f a cntract is displayed in this clumn by using the 'muse ver' functinality: Transactin Type Hyperlink which leads yu t the detail screen where technical transactins can be created. Whenever a template is blcked thrugh a preliminary template the 'muse ver' will lk as fllws: Due By Indicates by when a template shuld be submitted. Values displayed in this clumn are delivered frm the cntract Header sectin where attributes 'Deadline f Accunt' is defined. CS Cmbined Statements (CS) can be created by Swiss Re fr single templates. Whenever a template is part f a CS a green tick is displayed in this clumn. Use f the 'muse ver' functinality n the green tick will lead t CS name display. Selectin f an included template will pen a transactin screen n which the whle CS is displayed. Page 18 f 49

19 Transactin entry screen The mst imprtant infrmatin and cnditins regarding the selected template are visible in the header. 'Transactin Summary' ffers a quick verview abut all insured perids included in the template and their balances. The next sectin includes all 'Accunting Units' (AU) per 'Insured Perid' (Treaty year). The highest 'Insured Perid' is displayed n the tp. The 'Cmment' bx ffers the pssibility t enter transactin related message (256 characters). Page 19 f 49

20 T attach a supprting dcument direct in t the transactin, please click n the 'File Attachment' sign dwn right and uplad it: After entering the data int the crrespnding fields (Premium, Paid Lsses, Lss Reserves), please select ne f the fllwing actins: Calculate - leads t the calculatin f the Cmmissin, Balance and Financial Balance n all 'Accunting Units' (AU) and in the 'Transactin Summary'. Please enter all available fields even thugh there is n amunt (zer entry). Otherwise, an errr message will be displayed. Delete - the fllwing warning message will be displayed: By selecting 'Yes' the template including all entries will be deleted and the tab 'Treaty Accunting' will be pened. By selecting 'N' the template is again available fr prcessing and further actin. Save as draft - the tl saves the entered figures and remains pen. If yu leave it after saving via buttn, yur draft will be available fr further prcessing n the 'Pending Transactins' tab: Submit - the created template will be submitted t the Reinsurer fr verificatin. Page 20 f 49

21 Nta bene: The 'Reinsurer Share' fr the 'Type f Business' Quta Share is defined as the share frm 'Ceded Cessin' and nt frm 100%. Therefre the entries shuld crrespnd t the ceded and nt t 100% figures. The preppulated entries e.g. Lss Reserves regarding the treaty year 2014, crrespnd t the submitted entry n the previus accunt and are editable: All available fields are defined with a default sign which is Db (amunt in Client's favr) r Cr (amunt in Reinsurer's favr). In case the entered amunt shuld nt crrespnd t this default sign, please enter a minus sign in frnt f the amunt: Whenever a psitive claim amunt is entered, the fllwing warning pp-up is displayed: 3.2. F a cult a t i v e Accun t i ng All ffered functinalities are similar t the 'Treaty Accunting' tab. Page 21 f 49

22 3.3. Pen d i n g T ra n s a ct in s On this tab the fllwing transactins are available: Draft r Blank transactin has been created and saved but still nt submitted. Submitted transactin has been submitted but still nt cnfirmed by Reinsurer. Rejected transactin has been rejected by Reinsurer and is available fr crrectin (Rejectin reasn is visible by pening the transactin). By clicking n the Hyperlink in the clumn 'Transactin Type', the crrespnding transactin will pen and will be available fr editing and further actin T ra n s a ct i n Hi s t ry On this tab the fllwing transactins are available: Cnfirmed the transactin has been submitted and cnfirmed by Reinsurer. Rejected the transactin has been rejected by Reinsurer and is again available fr entering n the 'Treaty Accunting' tab. The rejectin reasn is visible by pening the template: Reversed nce an already submitted and cnfirmed transactin has been pened and reversed via buttn 'Actin', its status changed t reversed and an additinal reverse transactin appears autmatically as 'Reversal' in the 'Transactin Histry'. Reversal this is an autmatic created reverse transactin in case the riginal transactin has been reversed r rectified. By clicking n the Hyperlink in the clumn 'Transactin Type', the crrespnding transactin will pen and will be available fr further actin: Exprt t Excel by clicking n the Excel-buttn, the selected transactin will pen in an excel sheet. Please nte that nly a change f percentage f the 'Reinsurer Share' Page 22 f 49

23 wuld lead t a re-calculatin f the 'Financial Balance'. All ther changes wuld nt have an impact n the calculatin f 'Financial Balance' and if required it shuld be recalculated manually. Or Rectify by selecting this ptin via 'Actin' buttn, the template will becme available fr editing and crrectin. The next pssible step are 'Calculate' and 'Submit' via 'Actin' buttn r in the crner dwn left. After submissin, the status f the riginal transactin will be changed t 'Reversed' and an additinal reverse transactin appears autmatically as 'Reversal' in the 'Transactin Histry'. Reverse bking - by selecting this ptin via 'Actin' buttn, the riginal transactin will be reversed (the status will be changed) and an additinal reverse transactin appears autmatically as 'Reversal' in the 'Transactin Histry'. The transactin will be then again available fr entering n the 'Treaty Accunting' tab. Nta Bene: 'Rectify' r 'Reverse' f the transactin which has been already included in a year-end calculatin (Prfit Cmmissin, Sliding Scale Cmmissin, Lss Participatin, Prtfli mvements etc.) is nly pssible after reversing f the crrespnding year-end calculatin. The transactin regarding the MDP's Instalments are prcessed autmatically after the cntract has been accepted. They can be fund in the 'Transactin Histry' and available fr 'Reverse bking' nly ('Rectify' is nt pssible due t the defined MDP's cnditins in the cntract set-up). Every transactin has wn identificatin number. By pening a transactin, this number is visible n the end f the https-link n the tp: By putting the crrespnding number direct at the end f the https-link and clicking 'enter', the transactin will pen immediately. Page 23 f 49

24 4. Claims Opening and updating f individual claims in the applicatin is fully in the respnsibility f the client Index Management and Reinstatement Management If indexatin and reinstatement are nt required accrding t the treaty cnditins, please g straight t the chapter 4.2 Claim Administratin Create the Index Management Please g t the Claim tab and pen Index Management: After entering f the fllwing details: Index Name Cuntry (chse frm drp-dwn menu) Base Date Base Value the Index Rw Values per Mnth and Year will becme available fr entry: Page 24 f 49

25 By selecting 'Save' ptin via 'Actin' buttn, yur Index will be saved and becmes available in the drp-dwn menu 'Available Indexes'. By selecting 'Delete', the created Index will be deleted Create the Reinstatement Management Please g t the 'Claims' tab and pen 'Reinstatement Management': After entering f the fllwing details: Reinstatement Name Number f Reinstatements the reinstatement cnditins becme available fr entry: Page 25 f 49

26 Reinstatement Types: Flat Amunt Free Reinstatements are free, n additinal premium is due Pr Rata Amunt: XOL Lsses Paid x XOL Annual Premium XOL Cver x X% X % = rate agreed in the treaty wrding e.g. 50%, 100% etc. Pr Rata Tempris: XOL Lsses Paid x XOL Annual Premium x Number f days remaining XOL Cver x X% X % = rate agreed in the treaty wrding e.g. 50%, 100% etc. Please select 'Reinstatement Premium Type' and enter the crrespnding amunt r percentage: Page 26 f 49

27 By selecting 'Save' ptin via 'Actin' buttn, yur reinstatement template will be saved and becmes available in the drp-dwn menu 'Available Reinstatements'. By selecting 'Delete', the created reinstatement template will be deleted. Nta Bene: At the mment there is n functinality fr handling AAL cnditin (Annual Aggregate Limit) in ELRAC. Therefre, we ffer a wrkarund by setting up an equivalent number f free reinstatement premiums Nn-Prprtinal Claim Administratin Create a New Claim Meaning f the Clumn Names Last Update: Last date when the claim was updated. Claim Name: Claim name entered in the Header sectin. By clicking n the Hyperlink, a crrespnding transactin template will pen and will be available fr entering. Claim Ref.: Claim reference entered in the Header sectin. Date f Lss: Date f lss entered in the Header sectin. Currency: Currency in which the claim is accunted. Fr legacy claim this field will remain blank. Ttal Paid: Frm grund up amunt already paid fr a claim. Reserve: Frm grund up amunt f last reserve fr a claim. Last as f Date: Date t which last created transactin refers. Claim Status: Open/Clsed. By clicking n the buttn, a claim template will becme available fr creating a new claim and all mandatry values in the Header sectin need t be filled in (yellw highlighted): Page 27 f 49

28 Please 'Save' yur entries via buttn 'Actin' r 'Cancel'. After saving, the fllwing ptins are available via buttn 'Actin': Delete by selecting this ptin the claim will be deleted. Edit by selecting this ptin the Header will becme available fr entry f infrmatin (e. g. crrectin). Assign Templates by selecting this ptin the fllwing list becmes available: Page 28 f 49

29 Please select the crrespnding rw by clicking int the bx and entering the 'Order Number': Please cnfirm yur selectin by clicking n 'Assign t Claim' via buttn 'Actin' r 'Cancel': Page 29 f 49

30 The claim assignment leads t the fllwing screen: The fllwing ptins are nw available via buttn 'Actin': Assign Templates assignment f additinal templates t the claim. Create Transactin accunting f the claim figures up t date. Delete deleting f the created claim template. This ptin can nly be perfrmed as lng as the reprted claim figures n the related transactins are zer. Edit pssibility t edit the sectins 'Header' and 'Claim Assigned Templates'. By selecting f 'Create Transactin', the fllwing template will pen: Page 30 f 49

31 Please enter the crrespnding 'As f Date' and the claim figures 'New Frm Grund up' and select 'Calculate' via buttn 'Actin'. In cnsideratin f the entered figures and the treaty claim cnditins, the fllwing figures in the assigned claim template will be preppulated: Ttal in the 'New Frm Grund up' Cver and Deductible Lss Amunt Cash Claim Request (DB) Reserves Lss Amunt (DB) If a reinstatement is agreed (selected in the cntract set-up), ELRAC will shw the fllwing warning: Page 31 f 49

32 Please select the relevant reinstatement cnditin in the drp-dwn menu 'Available Reinstatements'. If n crrespnding 'Reinstatement Management' template has been created befre, please select 'Create New Reinstatement' via 'Actin' buttn. The reinstatement template will pen and will be available fr entering. The claim transactin can be fund afterwards n the 'Pending transactins' tab marked 'Blank' under 'Status' clumn and is available fr further prcessing. Please enter zer int the field 'Reinstatement Premium (CR)' and select 'Calculate' via 'Actin' buttn. In case a crrectin t the ELRAC calculatin is required, please enter 'Reinstatement Already Paid' amunt with sign (-) and select then 'Calculate'. Accrding t the entered figures the calculated Reinstatement Premium will be edited and cnsidered in the Balance: Page 32 f 49

33 The next pssible ptins via 'Actin' buttn: Save as draft the created claim transactin will be saved and available n the 'Pending transactins' tab. Calculate leads t Balance calculatin n all claim templates e.g. 3 layers. In case a field has been left blank an errr message is displayed e.g. if there are n reserves please enter zer. Submit the created claim transactin will be submitted t Reinsurer fr verificatin and till cnfirmatin remains n the 'Pending transactins' tab with the status 'Pending'. Delete the created claim transactin will be deleted. Apply Indexatin *leads t selectin f an available Index. Create New Reinstatement leads t creatin f 'Reinstatement Management' template. *By selecting 'Apply Indexatin', the fllwing field will appear in the Header and the crrespnding Index can be selected: If n crrespnding 'Index Management' template was created befre, please select 'Create New Index' via buttn 'Actin'. The Index template will pen and will be available fr entering. The claim transactin can be fund afterwards n the 'Pending transactins' tab and is available fr further prcessing. After selectin f the Index, the details will appear immediately: Page 33 f 49

34 And the fllwing sectin 'Index Clause and Indexatin' will be available fr entering: Please select the 'Indexatin Methd' accrdingly: Full Index Clause Payment amunt x Base Index Index n Payment date Severe Inflatin Clause Payment amunt x Indexatin Trigger Value* Index n Payment date *Base Index + Margin Clausla UIR Same calculatin as 'Full Index Clause' but: The indexed/nt indexed pririty stps at the date when settlements exceed the cntractual pririty. It will remain unchanged and be applied t the ther fllwing settlements/reserves until t its cmplete definitin. Therefre, the index value t be used fr all further payments will remain the same as well. The Index f Payment date t be applied t all payments is the ne n the date that settlements exceed the cntractual pririty Please define whether reserves need t be indexed by selecting 'Yes' r 'N'. By entering the Margin/Franchise in %, the 'Number f Payments' will be available as well. Page 34 f 49

35 When entering the 'Number f Payments', the fllwing details will becme available: Date f Payment. Index Value if a value f the crrespnding mnth has been entered in 'Index Management' that value will be preppulated here but is available fr editing. Otherwise please enter the value accrdingly the Index Management will be updated accrdingly. Cmments pssibility t enter Indexatin related cmment (nt mandatry). Calculatin / Indexatin please define whether the indexatin needs t be applied t 'Deductible' and/r 'Cver'. By selecting the ptin 'Calculate' via 'Actin' buttn, the indexed figures will be preppulated t all assigned claim templates stated belw: Page 35 f 49

36 The 'Cmment' bx ffers the pssibility t enter transactin related cmments. When sending us a first advice f a new claim please prvide us with the detailed infrmatin by attaching it directly int the transactin. Please click n the 'File Attachment' sign dwn right and uplad it: Once the entries have been cmpleted, please select ne f the fllwing relevant ptins via 'Actin' buttn: Page 36 f 49

37 4.2.2 Update an existing claim Already created claim templates are listed n the 'Claims' tab under 'Claim Administratin': By clicking n the Hyperlink in the clumn 'Claim Name', the crrespnding template will be pened and the fllwing ptins are available via 'Actin' buttn: Assign Templates - assignment f additinal templates t the claim. Create Transactin - accunting f the claim figures up t date. Edit - by selecting this ptin, the fllwing fields in the Header will be available fr entering: After editing these fields, please select ptin 'Save' which leads t the fllwing Warning message: Page 37 f 49

38 By selecting 'Yes', the changes will be saved. By selecting 'N', the template is again available fr entering and selecting 'Cancel' via 'Actin' buttn. All related claim transactins are visible at the template bttm and can be pened directly by clicking n the Hyperlink: Status Draft r Blank the transactin has been created but still nt submitted and is available n the 'Pending transactins' tab. Status Pending the transactin has been submitted but still nt cnfirmed by Reinsurer and is visible n the 'Pending transactins' tab (n editing pssible). Status Cnfirmed the transactin has been submitted and cnfirmed by Reinsurer (reversal is nt pssible anymre). Status Rejected the transactin has been submitted but rejected by Reinsurer. Nta Bene: Please nte that in case a related claim transactin has been already created but still nt submitted r submitted but still nt cnfirmed by Reinsurer, there is n actin pssible and the fllwing Warning message appears when pening the claim template: Page 38 f 49

39 Shuld a claim be paid during the insured perid based n the MDP, a crrectin t the reinstatement premium will be perfrmed autmatically in ELRAC as sn as the adjustment premium is reprted. Please enter zer int the field 'Reinstatement Premium Adjustment (CR)' unless a crrectin t calculated value is needed Pending Transactins All created claim transactins in Status 'Blank', 'Draft', 'Pending' r 'Rejected' are listed n the 'Pending Transactins' tab. By clicking n the Hyperlink the transactin will pen: Status Blank the transactin has been created but n entries dne. Status Draft the transactin has been created but still nt submitted. Status Pending the transactin has been submitted but still nt cnfirmed by Reinsurer (n editing pssible). Status Cnfirmed the transactin has been submitted and cnfirmed by Reinsurer (reversal is nt pssible anymre). Status Rejected the transactin has been submitted but rejected by Reinsurer. (Rejectin reasn is a mandatry field and is visible n the transactin red highlighted). By pening the transactin, the entries are available fr adjustment r crrectin and re-submissin. Page 39 f 49

40 4.4. Transactin Histry All created claim transactins in Status 'Rejected' r 'Cnfirmed' are listed n the 'Transactin Histry' tab. By clicking n the Hyperlink, the transactin will pen. Please nte that there is n pssibility t rectify r reverse a claim transactin nce cnfirmed. Any crrectin wuld have t be made via a new transactin. A rejected transactin is available fr adjustment r crrectin n 'Pending Transactins' tab as lng as n new transactin (new claim mvement up t date) has been submitted. Page 40 f 49

41 5. Financial Accunting On the 'Financial Accunting' tab a financial statement fr all prcessed technical and claim transactins can be created by client r by reinsurer. This functinality simplifies and supprts the timely handling f financial balances, but it des nt generate any autmatic payment Current Accunt All prcessed technical and claim transactins are listed in the 'Current Accunt' tab. The filter fr all 'Open transactins' is pre-defined: Meaning f the Clumn Name: Entry Date: The date when the displayed transactin has been cnfirmed. Descriptin: Based n the cntract header the fllwing infrmatin appears as reference: Placing cmpany, Reinsured (nly if different t placing cmpany), Cntract Name, Client Reference, Line f Business and Insured Perid. Transactin Type: Statement f Accunt, Prfit Dependent Cmmissin, Premium Instalment, Premium Adjustment, Premium Entry & Withdrawal, Cmbined Statement r Claim transactin. By clicking n the Hyperlink the transactin will pen. Currency: Currency in which the transactin has been accunted. Debit: All displayed amunts are in favr f the client. Credit: All displayed amunts are in favr f the reinsurer. Due Date: Payment Due Date (based n the cnditins n the cntract header). Status: Accepted the crrespnding transactin has already been included in a financial statement and accepted. Rectified and Reversed the crrespnding transactin has been rectified r reversed and cannt be included in a financial statement. Page 41 f 49

42 In Prgress the crrespnding transactin has been included in a financial statement, which has nt yet been accepted. Due and Overdue the crrespnding transactin has nt yet been included in a financial statement. In rder t filter surce data, the fllwing attributes can be defined and/r selected frm the drp-dwn menu and the descriptin can be cllapsed t single rw by ticking the bx 'Enable Single Rw Display' in the header: Create a Financial Statement T create a financial statement please click n the buttn 'Create Statement'. The template will pen and the fllwing mandatry fields (marked yellw) becme available: Usually the fields 'Placing Cmpany', 'Reinsured' and 'Reinsurer' are pre-defined (a separate financial statement needs t be set up fr each placing cmpany and reinsurer). By clicking the buttn 'Search', the matching transactins will be listed and can be selected fr the financial statement by ticking the bx n the right: Page 42 f 49

43 Once the selectin is cmpleted please chse 'Cntinue' via 'Actin' buttn. The crrespnding financial statement will be drafted: Whenever a financial statement cntains at least ne currency which is nt equal t the selected payment currency, an exchange rate value needs t be entered and the respective balances will be recalculated. When clicking n the excel icn n the left f the 'Actin' buttn, the drafted financial statement will be exprted t an excel file. The cmment bx at the bttm ffers the pssibility f entering a cmment/additinal infrmatin relating t the financial statement that has been created. Page 43 f 49

44 The fllwing ptins are available via 'Actin' buttn: Add nn ELRAC balances pssibility t include a financial psitin which has been prcessed utside f ELRAC e.g. facultative premium. Adjust selectin pssibility t adjust the selectin. Save as draft - the tl saves the selectin and remains pen. If yu leave it after saving via buttn, yur draft will be available fr editing n the 'Pending Statements' tab with the status 'Draft'. Such a drafted financial statement is visible fr the reinsurer but available fr editing and submissin by creatr nly. In case, the reinsurer drafted a financial statement, it is visible fr the cunterparty n the 'Pending Statements' tab with the status 'Draft Reinsurer' and as well available fr editing and submissin by creatr nly: Please nte, that the balances included in a drafted statement are nt listed n the 'Current Accunt'. Submit submissin f the drafted financial statement. After submissin, the status f all included transactins will change t 'In Prgress' and the cunterparty will receive a system generated including a link t the financial statement in ELRAC. Until the financial statement has been accepted by the cunterparty it is available n the 'Pending Statements' tab. Dear ELRAC user, Please nte that the fllwing Financial Statement requires verificatin. <LINK> This is a system-generated . Kind Regards. Page 44 f 49

45 Dear ELRAC user, Please nte that the fllwing Financial Statement has been accepted. <LINK> This is a system-generated . Kind Regards Pending Statements All submitted but nt yet accepted financial statements are listed n the 'Pending Statements' tab: Status 'Submitted' the financial statement has been submitted by the placing cmpany and is currently pending fr verificatin by the reinsurer. Status 'Submitted by Reinsurer' the financial statement has been submitted by the reinsurer and is pending fr verificatin by the placing cmpany. By clicking n the Hyperlink 'Financial Statement Name' the template will pen and can be accepted r rejected via 'Actin' buttn: Accept the status f all included transactins will change t 'Accepted/Clsed' n the 'Current Accunt' tab and the 'cnfirmed' financial statement is visible n the 'Transactin Histry' tab. Reject when selecting this ptin, entry f a rejectin reasn is necessary. The status f all included transactins will change t 'Due' r 'Overdue' n the 'Current Accunt' tab and the 'rejected' financial statement is visible n the 'Transactin Histry' tab. Page 45 f 49

46 5.3. Transactin Histry All cnfirmed (accepted) r rejected financial statements are listed n the 'Transactin Histry' tab: By clicking n the Hyperlink 'Financial Statement Name', the template will pen and the details will be visible. The cnfirmed statement is cmpleted, therefre 'Reverse' r Rectify' is nt pssible, nly transfer t Excel: On the rejected statement the reasn is highlighted in red. The crrespnding transactins are listed n the 'Current Accunt' and can be included in a new financial statement (Status 'Due' r 'Overdue'):

47 6. Administratin The 'Administratin' tab is accessible fr Reinsurer nly. Page 47 f 49

48 7. Reprting T create a full r filtered transactin reprt r t search fr a specific transactin, there is a pssibility n the 'Reprting' tab. Please define the criteria fr filtering r leave the fields blank (full reprt) and press 'Generate Preview': The reprted results depend n the vlume f all technical transactins prcessed in the past (n the example belw 619 recrds are reprted). When clicking n the Excel icn, the results will be transferred int an Excel file: On the reprt the fllwing attributes are included: Page 48 f 49

49 8. Cntact us Fr client specific related ELRAC prblems please cntact yur Business Manager frm Client Accunting Unit at Swiss Re r 'Cntact_Elrac@swissre.cm' Regarding the tl availability r lgin issue, please use the links including the instructins direct n the lgin page right: Or cntact direct ur IT supprt: 'Client_Services@swissre.cm' Page 49 f 49