A cloud-based reinsurance management platform supporting the end-to-end reinsurance lifecycle including accounting, contract administration, claims, and business intelligence tailored for both life and non-life insurers.
More about EFFISOFT (now Prima Solutions)
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. |
Prima XL documentation and marketing materials state the solution has a contract template library for various reinsurance contract types. | |
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Version Control Tracks historical changes and different versions of contracts. |
Prima XL supports version control for contract documents according to product literature. | |
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Contract Document Storage Allows for electronic storage and retrieval of contract files. |
Prima XL offers electronic storage and retrieval of contract files as part of its core features. | |
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Automated Endorsement Handling Automates the process of adding endorsements or amendments to contracts. |
Platform supports automated endorsement and amendment management for contracts (see documentation and feature lists). | |
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Contract Renewal Management Facilitates tracking and managing contract renewals and expiries. |
Contract renewal management and expiry tracking is referenced as a process automation feature in Prima XL brochures. | |
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Contract Search and Retrieval Quickly searches contracts based on various criteria (cedents, dates, treaty types, etc.). |
Full-text and field-based contract retrieval/searching available in platform (per user guides). | |
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Multi-Currency Support Supports contracts and transactions in multiple currencies. |
Multi-currency support repeatedly cited, e.g., for accounting and reporting. | |
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Multi-Language Support Supports user interfaces and document generation in different languages. |
Multi-language capability mentioned on official datasheets for user interface and doc generation. | |
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Automated Contract Validation Checks new or amended contracts for business rule compliance. |
Automated contract validation for business rule compliance is highlighted as part of Prima XL's automation benefits. | |
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Bulk Upload/Import Allows import of multiple contracts at once. |
Bulk upload/import for contracts and bordereaux files is documented as part of integration features. |
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Core System API Integration APIs for seamless integration with insurance policy admin and claims systems. |
Prima XL includes standard API integration with core systems, per documentation and system architecture diagrams. | |
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Batch Data Import/Export Supports scheduled or on-demand bulk imports/exports. |
Batch data import and export supported (see technical specifications and user guides). | |
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Third-Party Data Source Connectivity Integrates with external data providers (rating agencies, regulatory sources, etc.). |
Integration with third-party data sources is shown among Prima XL’s features (regulatory, actuarial, etc.). | |
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Real-Time Data Sync Synchronizes key data entities in (near) real time. |
Real-time or near-real-time data sync options are referenced in integration documentation. | |
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Data Mapping Tools Built-in tools for mapping and transforming data between systems. |
Supports mapping tools for incoming/outgoing data per API and user integration guides. | |
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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). |
Supports integrations with asynchronous queues (e.g., message-driven architecture referenced on integration overviews). | |
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File Format Flexibility Supports multiple data/file formats (XML, JSON, CSV, etc.). |
Documentation lists formats such as XML, CSV, XLS, JSON as available for import/export. | |
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Automated Error Handling Automated detection and reporting of integration errors. |
Automated error detection and notification for imports/integrations described in product technical papers. | |
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Data Encryption Encrypts data at rest and/or in transit during integration processes. |
Data encryption highlighted in security/architecture materials for both at rest and in transit. |
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Automated Premium Calculation Automates premium calculation based on contract terms. |
Automated premium calculation is a core Prima XL feature for contract-driven settlements. | |
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Premium Bordereaux Generation Generates bordereaux reports for ceding premiums. |
Premium bordereaux report generation is a standard part of accounting/processing. | |
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Premium Adjustment Handling Manages mid-term or retroactive premium adjustments. |
Handles mid-term and retroactive premium adjustment processes per user guides. | |
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Split Allocation Allocates premiums across multiple treaties or layers. |
Analytics and allocations support splitting premiums across treaties/layers (see accounting features section). | |
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Currency Conversion Automatically converts premiums based on current exchange rates. |
Currency conversion for premium accounting is a highlighted feature for multi-currency support. | |
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Automated Invoicing Produces and issues invoices for reinsurance premiums. |
Automated invoicing is a core reinsurance accounting feature (see datasheet). | |
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Settlement Tracking Tracks payment status and outstanding balances. |
Settlement/payment tracking is part of the accounting dashboards (frequently mentioned in overviews). | |
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Reconciliation Tools Built-in tools for reconciling premium records against accounting systems. |
Prima XL offers built-in reconciliation routines for data/accounting records (see feature matrix). | |
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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. |
Audit trails for premium and other financial transactions highlighted under compliance and auditability. |
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Automated Claim Notification Enables automatic detection/notification of claims that may trigger reinsurance. |
Claim detection and notification automation (e.g., event-based triggers) mentioned for claim processing. | |
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Claim Allocation Engine Allocates claims across applicable treaties, layers, and periods. |
Claim allocation engine automates allocation across treaties, layers per documentation. | |
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Recovery Calculation Calculates recoverable amounts from each reinsurer. |
Automated calculation of recoveries from reinsurers is a core feature for claims in Prima XL. | |
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Claim Bordereaux Generates bordereaux for reinsurance claim submissions. |
Bordereaux reports for claim submissions generated by system; referenced in reporting/claims sections. | |
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Claim Tracking Dashboard Visual tracking and status monitoring for reinsurance claims. |
Claim tracking dashboard featured in business intelligence modules for claims. | |
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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. |
Claim reserves calculation and IB(I)NR support among claims functionality. | |
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Settlement Processing Manages recoveries and settlements with reinsurers. |
Settlement processing for claims/recoveries is listed as a claims module function. | |
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Dispute Management Tools for documenting and resolving claim disputes with reinsurers. |
Dispute management tools offered for handling claim disputes, as stated in automation/process documents. | |
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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. |
Subledger for reinsurance and integration with main GL discussed in finance/accounting architecture section. | |
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Automated Accruals and Deferrals Manages accounting entries for premium and loss recognition. |
Automated accruals and deferrals management described in IFRS/GAAP accounting support. | |
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Multi-Basis Accounting Support Handles parallel accounting for GAAP, IFRS, local/regulatory basis. |
Multi-basis accounting for regulatory, GAAP, IFRS available (stated repeatedly in product specifications). | |
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Cash Application Supports matching incoming/outgoing cash with transactions. |
Cash application (matching payments to transactions) supported in accounting workflows. | |
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Comprehensive Audit Trail Detailed logs of all financial postings and changes. |
Comprehensive audit trail for posting and changes is called out for compliance/audit support. | |
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Tax Calculations Automates applicable tax/levy computations for reinsurance. |
Automated tax calculations/levy computation referenced in the accounting modules descriptions. | |
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Foreign Exchange Handling Manages FX gains/losses arising from reinsurance transactions. |
Handles FX gains/losses arising from multi-currency transactions (see finance/ledger features). | |
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Intercompany Balancing Automates balancing transactions between different group companies. |
Intercompany balancing options described in solution for group/multi-entity customers. | |
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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. |
Automated regulatory/statutory reporting for Solvency II and others featured in documentation. |
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Standard Report Library Includes pre-built reports for common reinsurance reporting needs. |
Pre-built report library covering common reinsurance needs stated in reporting/analytics modules. | |
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Custom Report Builder Tools for users to design, save, and schedule custom reports. |
Custom report builder available for users per Prima XL analytics documentation. | |
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Ad-hoc Query Capability Allows users to quickly interrogate system data for custom analysis. |
Ad-hoc query capability referenced as part of reporting analytics suite. | |
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Interactive Dashboards Real-time, visual, interactive performance and risk dashboards. |
Interactive dashboards in business intelligence and operations modules. | |
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KPI Tracking Tracks and displays key performance indicators for reinsurance business. |
KPI tracking for reinsurance business referenced in dashboard/analytics feature bullets. | |
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Drill-Down Reporting Ability to start at summary level and drill down to transaction details. |
Drill-down from summary to transaction detail available in reporting module UI (per user guides). | |
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Report Scheduling Schedule automated report runs and distributions. |
Automated/scheduled reports available for distribution, as listed in feature overviews. | |
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Export Capabilities Exports reports to multiple formats (Excel, PDF, CSV, etc.). |
Reports can be exported to Excel, PDF, CSV (see documentation for reporting). | |
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Data Visualization Tools Charts, graphs, heatmaps, and other data visualization features. |
Data visualization tools such as charts and graphs come with the BI/analytics module. | |
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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. |
Regulatory content updates and compliance monitoring described as maintained through regular release cycles. | |
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Automated Compliance Checks Continually checks data/processes against compliance rules. |
Automated compliance checks are a feature of Prima XL, e.g., for Solvency II, GDPR, IFRS17. | |
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Audit Log Management Maintains comprehensive audit logs for every user/system action. |
Comprehensive audit logging referenced repeatedly in security, compliance, and admin docs. | |
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SOX Compliance Support Provides controls and documentation to meet SOX (Sarbanes-Oxley) requirements. |
SOX compliance supported through controls, permissioning, audit trails (see regulatory features section). | |
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GDPR/Privacy Controls Implements data privacy safeguards and subject rights management. |
GDPR/privacy controls referenced for European customers—configurable privacy and data requests handled in platform. | |
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Regulatory Report Catalog Built-in templates for regulatory submissions (NAIC, Lloyd's, Solvency II, etc.). |
Regulatory report templates/catalog for major frameworks listed in marketing and user documentation. | |
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Access to Change Logs Provides full access to all change logs for compliance review. |
Access to change/audit logs provided (compliance review and troubleshooting). | |
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Automated Data Retention Policies Implements automatic archival/deletion based on policy. |
Automated data retention, archival, and deletion referenced for compliance (GDPR etc.). | |
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Role-Based Approval Workflows Enforces segregation of duties and approval chains on sensitive actions. |
Role-based approval workflows supported, enforcing segregation of duties (compliance module). | |
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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. |
Role-based access control (RBAC) is a cited restriction/enforcement approach in marketing and training materials. | |
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Multi-Factor Authentication Requires more than one form of authentication. |
Support for MFA listed for enhanced security as part of the SaaS/cloud deployment. | |
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SSO Integration Supports integration with enterprise single sign-on solutions. |
Supports Single Sign-On (SSO) using SAML, OAuth integrations per technical specs. | |
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Data Encryption at Rest Encrypts stored data to prevent unauthorized access. |
Data encryption at rest is a standard feature for SaaS and on-premise installations. | |
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Data Encryption in Transit Encrypts data during transmission. |
Data encryption in transit for all integrations and access is detailed in cloud security documentation. | |
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User Activity Monitoring Monitors, logs, and alerts on unusual or risky user activities. |
User activity monitoring and alerting tools (audit and compliance) are part of admin dashboards. | |
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Granular Permission Settings Allows fine-tuned control over access rights. |
Granular permissions for user roles and access groups, see admin/config guides. | |
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Audit Trails for Security Events Tracks all significant security-related operations. |
Audit trails for security events are captured as part of wider audit/compliance logging. | |
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Automatic Session Timeout Logs out users automatically after inactivity. |
Automatic session timeout for user inactivity shown as a potential security/policy configuration. | |
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Password Policy Enforcement Configurable password complexity and rotation policies. |
Password policy enforcement (complexity and rotation) described in security architecture. |
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Workflow Automation Engine Builds, customizes, and executes automated processing workflows. |
Workflow automation engine forms the platform's process orchestration for various insurance functions. | |
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Task and Notification Management Automates and tracks user tasks, reminders, and escalations. |
Task and notification management (including reminders & escalation) is part of workflow/process automation. | |
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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. |
User-defined automated alerts and triggers are available (see system rules/alerts config docs). | |
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Batch Processing Capabilities Supports high-volume batch jobs (e.g., monthly closings). |
Batch processing for statements, closings, renewals is supported (listed among automation features). | |
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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. |
Customizable dashboards for operations and other users highlighted as usability differentiator. | |
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Exception Management Tools Shows, tracks, and processes outliers or errors. |
Exception management tools for error handling, outliers, etc., in operational dashboards. | |
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Bulk Transaction Support Handles uploading or updating multiple transactions at once. |
Bulk transaction upload and modification supported (see data integration/user guides). | |
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Automated Documentation Generation Produces legal, operational, or notification documents automatically. |
Automated document generation (legal, operational, notification) for contracts and claims. |
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Intuitive Interface User-friendly, modern interface for efficient navigation. |
Modern user interface with a focus on intuitiveness (highlighted in product overviews). | |
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Responsive Design Optimized for various devices and screen sizes. |
Responsive design for tablets, mobile and cross-platform access (mentioned in SaaS overview). | |
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Personalizable Home Pages Allows users to customize views, favorites, and shortcuts. |
Personalizable home pages and portals listed as part of usability highlights. | |
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Contextual Help & Tooltips Provides on-screen help and explanations for features. |
Contextual help and tooltips included (see training/documentation sections). | |
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Global Search Enables users to search across all data and objects. |
Global search function highlighted in platform usability/UX materials. | |
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Accessibility Features WCAG compliance, keyboard navigation, screen reader support. |
Accessibility features to meet basic WCAG etc. requirements cited in product compliance. | |
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Guided Workflows Step-by-step guidance for complex or uncommon processes. |
Guided (stepwise) workflows for complex processes referenced in user onboarding guides. | |
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User Preference Management Users can set preferences for language, display, notifications. |
User preference management (language, time zone, notifications) supported. | |
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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. |
Mobile accessibility available via responsive design and mobile-friendly portal. |
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Cloud-Readiness Offers SaaS/cloud deployment options. |
SaaS/cloud option is the flagship offering for Prima XL. | |
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On-Premise Support Can be deployed on customer’s infrastructure. |
On-premise deployment also available for select clients (per sales and technical specs). | |
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High Availability & Failover Ensures system remains available in case of hardware failures. |
High availability and failover supported in SaaS and enterprise on-prem environments. | |
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Horizontal Scalability Ability to scale out resources as data volume/users increase. |
Solution is horizontally scalable according to major cloud providers/architecture diagrams. | |
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Disaster Recovery Readiness Built-in disaster recovery and backup routines. |
Disaster recovery readiness (including regular DR tests) advertised as part of cloud platform SLAs. | |
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API Extensibility Ability to extend platform through APIs or plug-ins. |
Platform exposes extensibility through robust APIs and integration plug-ins. | |
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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. |
Automated software updates delivered through SaaS operations (see release cycle notes). | |
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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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