Coinsurance Manager

This module registers the percentages of participation of other companies in co-insured policies. Any chance in the distribution of the coinsurance of a policy must be registered in the computer, maintaining its history up to date by making adjustments in the accounts of the participating companies in the same proportion in which their participation varies.

Several reports for control and inquiries facilitate the exchange of information with the other companies in the market, for the clarification and definition of information which might have been changed or badly handled by any of the companies. This is possible in view of the facilities given by the SIS to maintain cross references, by means of registration in our computer of the information and documents received from the other coinsurers.

The preparation of the accounts for the end of the month or for a preset period is done automatically taking as a base the information registered in the premiums for collection and the distribution of the coinsurance. As soon as a payment is received, the computer verifies whether the policy is coinsured and searches for the percentage distribution at that date, applying the payment and affecting the accounts of each of the participating companies. This set of percentages is used for the distribution of the reserves when a claim is open in the system.