System Overview: - This is a fully featured reinsurance solution that covers both life reinsurance and general reinsurance.
- It is locally developed, following our extensive experience in the insurance industry, right from the brokers,to underwriting, and now to reinsurance.
- The most comprehensive system available and customizable to extend to your very specifications, Reinsurance
- Dynamics handles more business, functional and system requirements than most other commercially available system.
|
This solution has the following capabilities:
- Management of ceded and assumed/retroceded, pools, and affiliates in one system
- Integrates reinsurance functions from contract definition through claims, accounting, and cash, to management and year end statutory reporting.
- Supports multiple statutory companies and currencies
- Automates the attachment, calculation and posting of premium loss cessions and retrocessions, including inter-company pooling.
- Provides for automatic splitting by pool/ retrocessional participants
- Identifies and calculates per risk, per occurrence, proportional and catastrophe loss recoveries.
- Manages reinsurance claims with customized billing, first notice of loss and status request letters
- Creates and manages receivable, payable and funds withheld sub-ledger balances.
- Automatically generates premium deposit premiums.
| - Tracks and generates IBNR
- Supports cash management including receipts, disbursements, unapplied cash, cash application and check details.
- Facilitates statutory reporting
- Manages Letters of Credit, funds held, trusts, and deposits.
- Includes reporting functionality for accounting, claims, underwriting and actuarial.
- Interfaces report writer data extracts with General Ledger and other systems.
- Application security controls access to functions at the user level.
- Ceded insurance Processing capabilities
- Retroceeded/ Assumed Processing capabilities
- Mortgage Administration capabilities: Reinsurance Dynamics comes with a fully featured mortgage administration system which integrates with premiums within the life reassurance module.
|
Technology Supported
- Runs on Relational Database Management System MS SQL and Native Navision database.
- Preferentially runs Microsoft server platform latter than 2000Server -Support XML and XHTML
- Import and export data with MS Excel
- Ability output report on MS word, Excel
- Ability to email reports directly using MS outlook
- Ability to integrate with light weight database and synchronize remotely VIA PDA
|