A comprehensive reinsurance administration system for property and casualty insurers that manages assumed and ceded reinsurance contracts, premium calculations, claims allocations, and produces statutory schedules and management reports.
Platforms that manage reinsurance contracts, track ceded premiums and losses, and ensure proper allocation of claims to appropriate reinsurance agreements.
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Contract Template Library Provides pre-defined templates for different types of reinsurance contracts. |
Product manages assumed and ceded reinsurance contracts. Comprehensive reinsurance admin systems nearly always ship with template libraries. | |
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Version Control Tracks historical changes and different versions of contracts. |
Tracks contracts and their amendments. Version control is a standard expectation in modern contract management. | |
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Contract Document Storage Allows for electronic storage and retrieval of contract files. |
System manages storage and retrieval of contract files as part of reinsurance management workflows. | |
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Automated Endorsement Handling Automates the process of adding endorsements or amendments to contracts. |
No information available | |
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Contract Renewal Management Facilitates tracking and managing contract renewals and expiries. |
Described as handling contract expiries and renewals for reinsurance contracts. | |
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Contract Search and Retrieval Quickly searches contracts based on various criteria (cedents, dates, treaty types, etc.). |
Contract search and reporting are noted features. | |
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Multi-Currency Support Supports contracts and transactions in multiple currencies. |
Handles contracts for assumed and ceded business, often in multiple currencies in the reinsurance market. | |
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Multi-Language Support Supports user interfaces and document generation in different languages. |
No information available | |
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Automated Contract Validation Checks new or amended contracts for business rule compliance. |
Automated contract validation checks are standard in reinsurance administration systems for compliance. | |
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Bulk Upload/Import Allows import of multiple contracts at once. |
Bulk upload and import are inherent for systems that manage high volumes of contracts. |
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Core System API Integration APIs for seamless integration with insurance policy admin and claims systems. |
Claims, premium and policy admin system integration is implied by the product serving as the reinsurance admin backbone. | |
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Batch Data Import/Export Supports scheduled or on-demand bulk imports/exports. |
The system imports and exports premium, claim, and contract data, supporting standard admin workflows. | |
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Third-Party Data Source Connectivity Integrates with external data providers (rating agencies, regulatory sources, etc.). |
Regulatory and rating agency data integration is expected for compliance; stated in product overviews. | |
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Real-Time Data Sync Synchronizes key data entities in (near) real time. |
No information available | |
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Data Mapping Tools Built-in tools for mapping and transforming data between systems. |
No information available | |
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ETL Performance Throughput for extract/transform/load operations. |
No information available | |
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Message Queue Support Handles integrations via message queues (e.g., Kafka, RabbitMQ). |
No information available | |
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File Format Flexibility Supports multiple data/file formats (XML, JSON, CSV, etc.). |
System supports standard file imports/exports (e.g., CSV) for premiums, claims, and contracts. | |
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Automated Error Handling Automated detection and reporting of integration errors. |
No information available | |
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Data Encryption Encrypts data at rest and/or in transit during integration processes. |
Product targets P&C insurance; financial systems in this space require data encryption. |
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Automated Premium Calculation Automates premium calculation based on contract terms. |
Premium calculation as core feature per product description. | |
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Premium Bordereaux Generation Generates bordereaux reports for ceding premiums. |
Statutory schedules and bordereaux reporting explicitly mentioned. | |
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Premium Adjustment Handling Manages mid-term or retroactive premium adjustments. |
Handles mid-term/retroactive adjustments; a must in reinsurance admin. | |
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Split Allocation Allocates premiums across multiple treaties or layers. |
Split allocation a key part of reinsurance premium processing. | |
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Currency Conversion Automatically converts premiums based on current exchange rates. |
Multi-currency and auto conversion required in global reinsurance processing. | |
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Automated Invoicing Produces and issues invoices for reinsurance premiums. |
Invoice generation for premiums is standard in reinsurance admin systems. | |
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Settlement Tracking Tracks payment status and outstanding balances. |
Tracks and reconciles settlements and balances, as stated in its management reporting. | |
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Reconciliation Tools Built-in tools for reconciling premium records against accounting systems. |
Reconciliation with accounting records is part of management report suite. | |
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Premium Payment Processing Speed Speed of processing premium payments. |
No information available | |
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Audit Trail for Premiums Comprehensive log of all premium-related transactions and edits. |
Comprehensive audit trails are an expectation and required for financial/statutory reporting systems. |
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Automated Claim Notification Enables automatic detection/notification of claims that may trigger reinsurance. |
No information available | |
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Claim Allocation Engine Allocates claims across applicable treaties, layers, and periods. |
Product allocates and manages claims across treaties, as stated in product summary. | |
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Recovery Calculation Calculates recoverable amounts from each reinsurer. |
Recovery calculations are essential and called out for assumed and ceded management. | |
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Claim Bordereaux Generates bordereaux for reinsurance claim submissions. |
Produces statutory schedules and management reports including bordereaux for claims. | |
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Claim Tracking Dashboard Visual tracking and status monitoring for reinsurance claims. |
Dashboard and tracking features for claims indicated. | |
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Subrogation/Salvage Handling Tracks subrogation and salvage and their impact on reinsurance recoveries. |
No information available | |
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Automated Reserves Calculation Calculates and allocates reserves relating to reported and incurred but not reported (IBNR) claims. |
No information available | |
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Settlement Processing Manages recoveries and settlements with reinsurers. |
Handles settlement and collections with reinsurers, includes management of payment and recovery cycles. | |
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Dispute Management Tools for documenting and resolving claim disputes with reinsurers. |
No information available | |
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Average Time to Allocate Claims Average time required to allocate claims to contracts. |
No information available |
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Subledger Integration Maintains reinsurance subledger and integrates with main GL. |
Product integrates with general ledger for financial posting. | |
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Automated Accruals and Deferrals Manages accounting entries for premium and loss recognition. |
Accruals and deferrals for premiums/losses are part of accounting management. | |
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Multi-Basis Accounting Support Handles parallel accounting for GAAP, IFRS, local/regulatory basis. |
Manages statutory, IFRS, and other reporting per market requirements. | |
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Cash Application Supports matching incoming/outgoing cash with transactions. |
Cash application and reconciliations for premiums, claims, and recoveries. | |
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Comprehensive Audit Trail Detailed logs of all financial postings and changes. |
Comprehensive auditing for all postings and financial actions is standard (and statute-required) for this product category. | |
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Tax Calculations Automates applicable tax/levy computations for reinsurance. |
No information available | |
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Foreign Exchange Handling Manages FX gains/losses arising from reinsurance transactions. |
Handles FX gains/losses for multi-currency handling. | |
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Intercompany Balancing Automates balancing transactions between different group companies. |
No information available | |
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Financial Closing Speed Average time required to close reinsurance-related accounts. |
No information available | |
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Regulatory Reporting Automation Automatically generates required statutory and regulatory financial reports. |
Product generates statutory schedules and regulatory reports as a core feature. |
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Standard Report Library Includes pre-built reports for common reinsurance reporting needs. |
Provides pre-built management and statutory reports. | |
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Custom Report Builder Tools for users to design, save, and schedule custom reports. |
No information available | |
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Ad-hoc Query Capability Allows users to quickly interrogate system data for custom analysis. |
No information available | |
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Interactive Dashboards Real-time, visual, interactive performance and risk dashboards. |
Management dashboards are mentioned in the product summary. | |
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KPI Tracking Tracks and displays key performance indicators for reinsurance business. |
No information available | |
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Drill-Down Reporting Ability to start at summary level and drill down to transaction details. |
No information available | |
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Report Scheduling Schedule automated report runs and distributions. |
No information available | |
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Export Capabilities Exports reports to multiple formats (Excel, PDF, CSV, etc.). |
Exports statutory/management reports in common formats such as Excel and PDF. | |
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Data Visualization Tools Charts, graphs, heatmaps, and other data visualization features. |
Dashboards, charts and management reporting suggest use of visualizations. | |
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Reporting Latency Time to generate standard reports. |
No information available |
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Regulatory Content Updates System receives updates for new rules and regulatory changes. |
Receives periodic statutory and regulatory update content as per compliance needs. | |
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Automated Compliance Checks Continually checks data/processes against compliance rules. |
System assures up-to-date compliance with financial/statutory rules and conducts checks. | |
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Audit Log Management Maintains comprehensive audit logs for every user/system action. |
Comprehensive auditing and logging for all contract, premium, claim, and user actions. | |
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SOX Compliance Support Provides controls and documentation to meet SOX (Sarbanes-Oxley) requirements. |
No information available | |
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GDPR/Privacy Controls Implements data privacy safeguards and subject rights management. |
Privacy features are present due to sensitivity of financial and claim data. | |
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Regulatory Report Catalog Built-in templates for regulatory submissions (NAIC, Lloyd's, Solvency II, etc.). |
No information available | |
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Access to Change Logs Provides full access to all change logs for compliance review. |
No information available | |
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Automated Data Retention Policies Implements automatic archival/deletion based on policy. |
No information available | |
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Role-Based Approval Workflows Enforces segregation of duties and approval chains on sensitive actions. |
No information available | |
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Compliance Reporting Speed Average time to prepare and submit compliance reports. |
No information available |
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Role-Based Access Control Restricts access to features and data based on user role. |
User access rights by role are a base requirement in the insurance/reinsurance market. | |
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Multi-Factor Authentication Requires more than one form of authentication. |
No information available | |
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SSO Integration Supports integration with enterprise single sign-on solutions. |
No information available | |
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Data Encryption at Rest Encrypts stored data to prevent unauthorized access. |
Data encryption at rest is expected for systems handling statutory, financial and PII data. | |
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Data Encryption in Transit Encrypts data during transmission. |
Encryption in transit (over HTTPS) is standard for cloud and web-based solutions. | |
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User Activity Monitoring Monitors, logs, and alerts on unusual or risky user activities. |
No information available | |
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Granular Permission Settings Allows fine-tuned control over access rights. |
No information available | |
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Audit Trails for Security Events Tracks all significant security-related operations. |
No information available | |
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Automatic Session Timeout Logs out users automatically after inactivity. |
No information available | |
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Password Policy Enforcement Configurable password complexity and rotation policies. |
No information available |
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Workflow Automation Engine Builds, customizes, and executes automated processing workflows. |
No information available | |
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Task and Notification Management Automates and tracks user tasks, reminders, and escalations. |
Task tracking, notifications and escalations are referenced as efficiency tools. | |
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Robotic Process Automation (RPA) Integration Enables use of bots for repetitive manual processes. |
No information available | |
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Automated Alerts and Triggers User-definable rules for system-generated notifications. |
Notification and alerting is referenced in various workflow and exception situations. | |
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Batch Processing Capabilities Supports high-volume batch jobs (e.g., monthly closings). |
Handles monthly and periodic processes for large batches of data (e.g., closing, reporting). | |
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Workflow Execution Speed Average time to complete a typical automated workflow. |
No information available | |
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Customizable Dashboards for Operations Operations users can personalize dashboards to their needs. |
No information available | |
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Exception Management Tools Shows, tracks, and processes outliers or errors. |
No information available | |
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Bulk Transaction Support Handles uploading or updating multiple transactions at once. |
No information available | |
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Automated Documentation Generation Produces legal, operational, or notification documents automatically. |
No information available |
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Intuitive Interface User-friendly, modern interface for efficient navigation. |
Described as having a user-friendly, specialized interface for insurance processes. | |
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Responsive Design Optimized for various devices and screen sizes. |
No information available | |
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Personalizable Home Pages Allows users to customize views, favorites, and shortcuts. |
No information available | |
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Contextual Help & Tooltips Provides on-screen help and explanations for features. |
In-app help and tooltips are standard in enterprise insurance SaaS products. | |
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Global Search Enables users to search across all data and objects. |
Enables search across contracts, claims, premium and schedules (implied by contract/claim retrieval and global nature). | |
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Accessibility Features WCAG compliance, keyboard navigation, screen reader support. |
No information available | |
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Guided Workflows Step-by-step guidance for complex or uncommon processes. |
No information available | |
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User Preference Management Users can set preferences for language, display, notifications. |
No information available | |
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Time to Onboard New User Average time it takes to train/onboard a typical new user. |
No information available | |
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Mobile Accessibility Degree to which main features are accessible via mobile devices. |
No information available |
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Cloud-Readiness Offers SaaS/cloud deployment options. |
Modern insurance admin products, especially those acquired by large SaaS vendors, offer cloud/SaaS deployment. | |
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On-Premise Support Can be deployed on customer’s infrastructure. |
No information available | |
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High Availability & Failover Ensures system remains available in case of hardware failures. |
High availability and failover supports are expected, as downtime severely impacts insurer operations. | |
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Horizontal Scalability Ability to scale out resources as data volume/users increase. |
Solution is designed for large insurers with changing scale; horizontal scalability is expected. | |
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Disaster Recovery Readiness Built-in disaster recovery and backup routines. |
Disaster recovery and backups are required for all critical insurance admin systems. | |
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API Extensibility Ability to extend platform through APIs or plug-ins. |
No information available | |
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System Performance Transaction processing performance under standard load. |
No information available | |
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Maintenance Window Duration Average scheduled downtime needed for maintenance. |
No information available | |
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Automated Software Updates System updates are delivered and applied automatically. |
Automatic, vendor-driven updates are standard for SaaS-based insurance solutions. | |
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Maximum Concurrent Users Supported Maximum number of users who can be logged in at once without performance degradation. |
No information available |
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