Prima XL Reviews

Duck Creek Reinsurance centralizes, automates, and tracks all reinsurance processes. This includes tracking information about contracts, such as treaties and facultative polices, claims, incidents and accounting data. This flexible solution manages all contracts, from underwriting through endorsements and renewals. It supports multiple currencies and GAAP standards. It identifies all claims that are meant to be covered by accurately calculating recoveries, and quickly creating reinsurance invoices. This ensures that reinsurance - whether ceded or assumed -- achieves its intended goal of risk management and capital accessibility. By digitally transforming the reinsurance administration, finance and risk management can leverage data strategically to make critical decisions about risk appetite and support contract negotiations. Automation, standardization and data transparency replace laborious tools like spreadsheets, outdated databases and outdated databases.

Sapiens ReinsurancePro, a comprehensive platform, automates the underwriting and administration for reinsurance. It covers facultative and treaty reinsurance as well as ceded and assumed reinsurance. It has robust accounting functionality that ensures compliance with auditing requirements and statutory requirements. It also features automated billing and Schedule F generation with just one click. The system integrates seamlessly with policy and claim solutions to automate identification and calculation of concessions, improving operational efficiency. Automated contracts, calculations and processes provide full financial control. This reduces the risk of claims leakage. ReinsurancePro's cloud-first architecture and flexible deployment options allow for high data volumes to be handled quickly and reliably. Its fast transactional processing and efficient I/O further optimize performance.