Reinsurance Manager

The calculation of the distribution of reinsurance on a document is made automatically based on preset rules and standards which normally vary depending on the Line of Business.

Every time that new reinsurance contracts are signed, they are registered on the computer in such a manner that based on the effective date of the documents issued, the computer can search for the corresponding treaty and make the calculation of the company’s retention as well as of the distribution of the contractual reinsurance, taking into account the cases of amounts insured which exceed the contracts and indicating the proportion which would have to be optionally placed as facultative to complete the insurance of this document.

Normally the final issuance of a policy or endorsement is made after having revised and checked the reinsurance of the transaction, the same as in the manual form of work, and therefore the documents to be issued in the system will not be obtained until after the computer has affected the calculation of the reinsurance.

The calculation of the distribution of the reinsurance of each document is made automatically by the SIS, thereby giving the opportunity to the user of changing this distribution when it is required and meeting with the authority level.

Prior to the calculation of the distribution of the reinsurance, the computer verifies whether this policy is forming accumulation of losses with any other(s) already in force in order to make the distribution based on the insured accumulated amount. In this case, the computer would make redistribution, if it is deemed necessary, of the reinsurance of each one of the policies forming part of the accumulation.

Request for facultative reinsurances are issued automatically by the computer after processing the policy on which this type of reinsurance has been placed. These requests contain all the data of the original risk as well as the proportion which may be stated in the acceptance of the reinsurer.

This module produces several control reports as well as accounting reports which are normally used for the registration and preparation of the accounts of the reinsurers.

The preparation of accounts is done automatically by the corresponding module, after having implemented the Management of Claims sub-system, which is the other portion to be registered, in addition to the production of premiums.

Some statistical reports can be obtained from this module taking into account that we would only obtain information relative to premiums and not to actual losses since the corresponding module has not been installed.

• Profiles of Portfolios in the different Lines of Business
• Reports with catastrophic accumulations due to earthquake, hurricanes, etc.