Communication and Information Technology in the Reinsurance Business

  • Increase the reinsured capacity of underwriting
  • Financial stability of the reinsured
  • Stabilization of claim ratio
  • Accumulation of claim under different classes
  • Spread of Risks
  • Protection of solvency margins
  • Stabilize profitability
  • Enables an insurer to consider unusual proposals which the company normally would not underwrite
  • Extend the area of expertise to the insurer
  • Helps to absorb newer risk exposures, etc ..,
  • Treaty wise quarterly statistics
  • Broker wise Statistics
  • Country-wise statistics
  • Insurer wise statistics
  • Proportional and non-proportional statistics
  • Class of business statistics
  • List of overdue accounts
  • List of outstanding balances
  1. The accounted premium is consistent with the estimated premium taking into account the development normally to be expected. A sudden increase or decrease calls for review with the insurer or reinsurer concerned
  2. The profit commission statement agrees with the accounted figures
  3. The release of reverses and portfolio movements are in accordance with the treaty provisions
  4. The overall result of the treaty is a profit or loss,
  5. The rendering of accounts and settlement of balance is prompt
  6. Treaty documents were received or not
  1. Control of accumulation
  2. Earthquake and accumulation of hazard
  3. Assessment of Cumulative commitments
  • Individual treaties
  • The main classes of reinsurance business
  • The business obtained from different countries and regions
  • Claims trends and provisions
  • Exposure etc.,
  • Production of accounts
  • Production of marketing information
  • Production of rating information
  • Premium and claims trends
  • Assessments of outstanding claims and IBNR reserves
  • Financial planning
  1. Production of statistics for each of the outward treaties
  2. Preparation of outward accounts and various other books of records
  3. Requirements of reconciliation of balances and review of cash flows
  4. Review of business accepted for the purpose of ascertaining its profitability
  5. Review of reciprocal exchanges
  6. Complete analysis of portfolio underwritten and to ascertain exposures
  7. Statistical and accounting requirements for retrocession treaties
  8. Information on large claims
  9. Ascertaining aggregate loss amount due to one catastrophic event m which may affect the reinsures through several treaties

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Payoda Technology Inc

Payoda Technology Inc

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