Transforming reinsurance management
Policysense Coinsurance and Reinsurance
It is a powerful solution that is designed to control, Optimize and digitalize all Reinsurance operations
and Coinsurance from any insurance Company.
REINSURANCE
What is Policysense Coinsurance and Reinsurance for?
Policysense Coinsurance and Reinsurance enables you to manage reinsurance & coinsurance processes, ensuring greater productivity and precision in risk placement, with functionalities based on industry best practices.
Policysense Reinsurance
It is an advanced, "non-invasive" application that can be implemented very quickly without intervening in the policy, collection or claims systems, which digitizes the entire risk placement process, allowing insurance companies to:
I want more information- Manage proportional and non-proportional reinsurance.
- Manage automatic and optional contracts.
- Control accepted and ceded co-insurance.
- Facilitate the exchange of data on premium and claims transactions, which may come from more than one or more CORE systems.
- Define approval flows including the use of electronic signature.
- Multi-currency contracts that facilitate global operations.
- Generate premium and claims balances , technical accounts and current accounts for all companies involved in co-insurance and reinsurance operations.
Reinsurance Module
Policysense Coinsurance and Reinsurance
Is cloud native, 100% based on Low-Code and offered through a SaaS model
With three areas of action
With three areas of action to operate separately or integrated, according to the needs of your insurance company: Automatic Reinsurance, Facultative Reinsurance and/or Coinsurance.
Ready to connect to external systems
Policysense is prepared to connect with external electronic signature systems to confirm the acceptance of assignments, it also has a data viewer, with Looker included for queries and data analysis.
Automated Generation of Assignments
Automated generation of premium and claims assignments.
Production of accounts
Production of technical accounts and current accounts.
Rigorous control of the accumulation
Rigorous control of the accumulation , catastrophic events, reinsurance intermediaries.
Extract secure data
Extract secure data to Excel for analysis, reporting or creation of risk files.
Reception of messages
It offers reception of synchronous or asynchronous messages from any policy, collection and claims administration system.
Exceptionally low TCO and fast return on investment
Up and running in just 3 months*(Subject to customer scope and availability)
Policysense Reinsurance Features
Reinsurance Branch Configuration
• Establishment of limits and specific rules for each branchContract Configuration
• Management of quota share, surplus and optional mandatory contracts.• Management of non-proportional contracts: excess loss, excess claims (stop loss).
Generation of Assignments
• Automation of premium and claims transfers for unmatched efficiency.Generation of Current and Technical Accounts
• Accurate generation and management of accounts, facilitating accounting and financial management.Authorizations and Workflows
• Dynamic workflow for approving assignments and contracts.Sections Policysense Reinsurance
Policysense controls all Co-insurance and Reinsurance operations by parameterizing all contracts and reinsurance options for each branch. From the App, Bordereaux of premiums and claims, technical accounts, and current accounts are generated for all companies involved in co-insurance and reinsurance operations.
This section allows you to manage all aspects related to reinsurance contracts, from their creation and administration to the display of groupings and associations between insurance companies.
• Reinsurance by branch and year: Review and manage reinsurance contracts organized by type of insurance and year.
• Companies: Access detailed information about the companies involved in insurance contracts.
• Insurance groups: Consult data on the distinct groups of insurance companies you work with.
• Contracts: Explore and manage current insurance contracts and their conditions.
• Bouquets: Manages collections of insured risks grouped into specific " bouquets".
• Reinsurance by branch and year: Review and manage reinsurance contracts organized by type of insurance and year.
• Companies: Access detailed information about the companies involved in insurance contracts.
• Insurance groups: Consult data on the distinct groups of insurance companies you work with.
• Contracts: Explore and manage current insurance contracts and their conditions.
• Bouquets: Manages collections of insured risks grouped into specific " bouquets".
In this section, you can search and review relevant information about your clients, policies, claims and other essential data, facilitating quick access to critical information.
• Clients: View and analyze information on registered clients.
• Policies: Check the details of the issued and current policies.
• Cases: Manage and review special or exceptional cases in insurance administration.
• Claims: Access information and reports on claims reported by the insured.
• Catastrophic events: Evaluates the impact and management of catastrophic events on policies and claims.
• Automatic Capacity: Get data on automatic coverage capacity without the need for prior approval.
• Contacts: Keep relevant contacts organized in insurance operations.
• Clients: View and analyze information on registered clients.
• Policies: Check the details of the issued and current policies.
• Cases: Manage and review special or exceptional cases in insurance administration.
• Claims: Access information and reports on claims reported by the insured.
• Catastrophic events: Evaluates the impact and management of catastrophic events on policies and claims.
• Automatic Capacity: Get data on automatic coverage capacity without the need for prior approval.
• Contacts: Keep relevant contacts organized in insurance operations.
The accounts section facilitates the comprehensive management of financial transactions related to premiums and claims, including the administration of assignments and technical accounts.
• Premium transfers: Administers and controls insurance premiums transferred to reinsurers or other insurers
• Claims transfers: Manages the transfer of claims to other entities.
• Assignments pending approval: Monitors the assignments of premiums and claims that are pending approval.
• Technical Accounts: Access detailed technical information about managed accounts.
• Bordereaux: Consult and manage detailed lists (' bordereaux ') of transferred policies.
• Monthly closings: Manage the monthly account closing processes.
• Premiums on deposit: Monitors premiums held on deposit for future transactions.
• Premium transfers: Administers and controls insurance premiums transferred to reinsurers or other insurers
• Claims transfers: Manages the transfer of claims to other entities.
• Assignments pending approval: Monitors the assignments of premiums and claims that are pending approval.
• Technical Accounts: Access detailed technical information about managed accounts.
• Bordereaux: Consult and manage detailed lists (' bordereaux ') of transferred policies.
• Monthly closings: Manage the monthly account closing processes.
• Premiums on deposit: Monitors premiums held on deposit for future transactions.
In this section, all financial transactions related to the collection and payment of policies are managed, ensuring a effective control over accounts and payments.
• Accounts receivable: Control and manage accounts receivable.
• Current accounts: Manage current accounts related to insurance.
• Payment Requests: Review and process payment requests made.
• Payments Received: Check and manage payments that have already been received.
• Pending Payments: Monitor and manage payments that are awaiting confirmation or processing.
• Broker Commissions: Manage the payment of commissions to brokers for their services.
• Accounts receivable: Control and manage accounts receivable.
• Current accounts: Manage current accounts related to insurance.
• Payment Requests: Review and process payment requests made.
• Payments Received: Check and manage payments that have already been received.
• Pending Payments: Monitor and manage payments that are awaiting confirmation or processing.
• Broker Commissions: Manage the payment of commissions to brokers for their services.
This section allows the control and monitoring of workflows, ensuring that all administrative tasks and processes are completed, are managed efficiently.
• Pending Tasks: Review and control the tasks that are yet to be completed.
• Administration Center: Access advanced tools and features for general administration.
• Task Dashboard: Use the dashboard to monitor the status of pending tasks.
• Process control panel: Manage administrative processes from a centralized panel.
• My started processes: Monitors the processes that the user has started.
• Notifications - Policies: Review important notifications related to policies.
• Notifications - Cclaims: Manages critical notifications related to claims.
• Pending Tasks: Review and control the tasks that are yet to be completed.
• Administration Center: Access advanced tools and features for general administration.
• Task Dashboard: Use the dashboard to monitor the status of pending tasks.
• Process control panel: Manage administrative processes from a centralized panel.
• My started processes: Monitors the processes that the user has started.
• Notifications - Policies: Review important notifications related to policies.
• Notifications - Cclaims: Manages critical notifications related to claims.
