Average Ratings 0 Ratings
Average Ratings 0 Ratings
Description
Duck Creek Reinsurance streamlines and automates the entire reinsurance process by consolidating information associated with contracts, which encompasses treaties, facultative policies, claims, incidents, as well as various financial and technical data. This adaptable solution oversees contracts throughout their lifecycle, including underwriting, endorsements, and renewals, and accommodates multiple currencies and GAAP standards. By efficiently calculating recoveries and swiftly generating reinsurance invoices, it ensures that all claims eligible for coverage are accurately identified, thus fulfilling the objectives of both ceded and assumed reinsurance in terms of risk management and capital optimization. The digital transformation of reinsurance administration empowers finance and risk management teams to utilize data more effectively, facilitating crucial decisions about risk tolerance and enhancing contract discussions. Moreover, the shift towards automation, standardization, and enhanced data transparency eliminates the reliance on cumbersome tools such as spreadsheets and outdated databases, ultimately improving operational efficiency. In effect, this comprehensive approach not only simplifies processes but also fosters a more strategic alignment between risk management and financial objectives.
Description
HurLoss represents ARA's advanced hurricane catastrophe model tailored for property insurers, reinsurers, brokers, and ILS managers to adeptly navigate risks in regions susceptible to hurricanes. Since its inception in 1998, HurLoss has served as the cornerstone for structural engineering standards in hurricane-affected states and has been integral to federal emergency management and mitigation strategies across the nation since 2003. The model provides a comprehensive event set that spans the entire North Atlantic basin, covering areas such as the U.S., the Caribbean, Bermuda, and portions of Canada, Mexico, and Central America. What sets HurLoss apart is its physics-driven approach to hurricane hazard modeling combined with engineering load and resistance analysis, grounded in fundamental principles and corroborated by claims data. Additionally, the model incorporates projections related to future climate conditions, enabling users to evaluate risks using both current and anticipated climatological data, including variables such as sea surface temperature and wind shear. This forward-thinking approach ensures that stakeholders are equipped with the most relevant information to make informed decisions regarding their hurricane risk management strategies.
API Access
Has API
No
API Access
Has API
No
Integrations
Duck Creek Suite
Yes
FurtherAI
Yes
Moody’s Risk Modeler
No
Oasis Loss Modeling Framework
No
Integrations
Duck Creek Suite
No
FurtherAI
No
Moody’s Risk Modeler
Yes
Oasis Loss Modeling Framework
Yes
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Customer Support
Business Hours
Yes
Live Rep (24/7)
Yes
Online Support
Yes
Customer Support
Business Hours
Yes
Live Rep (24/7)
No
Online Support
Yes
Types of Training
Training Docs
Yes
Webinars
Yes
Live Training (Online)
No
In Person
Yes
Types of Training
Training Docs
Yes
Webinars
No
Live Training (Online)
No
In Person
Yes
Vendor Details
Company Name
Duck Creek
Founded
2000
Country
United States
Website
www.duckcreek.com/product/reinsurance/
Vendor Details
Company Name
ARA
Founded
1998
Country
United States
Website
www.ara.com/hurloss/