Reinsurance touches many departments from Underwriting and Claims to Billing and Accounting. A pre-integrated system such as SurePower Innovation can shine addressing this challenge.
Turbulent times and looming regulation are making reinsurance rise in importance for primary insurers. Companies are looking to reinsurance to strengthen balance sheets. Will you get the return for what you are buying? SurePower Innovation's tightly integrated reinsurance ensures can increase your staff's capture of reinsurance opportunities.
Reinsurance Info Available When Needed
With SurePower Innovation, underwriters and adjusters simultaneously see the same, up-to-date reinsurance position of the policy. The information is not "pulled" from a separate system. The proper coverage's and reinsurance are available to anyone in the company with sufficient authority for coverage verification, processing, and inquiry. SurePower Innovation is capable of setting up very efficient rules and workflows to automate tasks, their escalation and human monitoring for the following:
Calculating reinsurance cessions for pro-rata, quota share, and excess treaties
Performing calculations based on stated policy limits or on user-entered PML figures
Automatically ceding the proper portions to the reinsurers
Warning user if additional reinsurance is required
Calculating and billing all reinsurance on the claim,
Handling multiple, complex treaties (as uniquely configured by the client)