Reinsurance
The share of risk passes to the reinsurer when the policy is issued, not at the end of the quarter from an export. Bordereaux are generated from the same contracts and claims, and the bordereau settlement is posted as an accounting entry at once.
Plan Professional and Enterprise plans.
What is inside
- Five treaty types: quota share, surplus, excess of loss with layers, stop loss and facultative
- Obligatory and facultative reinsurance
- Automatic cession allocation when a policy is issued
- Premium and claims bordereaux by treaty
- Bordereau settlement with an accounting entry
- Reinsurance commission and share of claims
- Inward reinsurance: cedent statements and retrocession
- Coinsurance with participant shares
Conditions
The reinstatement premium of an excess of loss layer is not calculated: its terms are agreed with the reinsurer separately.
These parts of the module are on the product roadmap. We confirm timing and scope during implementation.
- Balance of the risk portfolio
- Exchange with international reinsurers
Frequently asked questions
When is a cession created?
When the policy is issued. If the reinsurance treaty is entered later, cession allocation is run again for policies already issued.
Is inward reinsurance supported?
Yes. The insurer keeps cedent statements and passes the accepted risk on through retrocession.
How are excess of loss layers handled?
Each layer is defined by a retention and a limit, and the reinsurer’s share of a claim is calculated by layer.
Use cases with this feature
Other features
Shall we show the system on your products?
We will build your product in the builder, take a policy from quote to claim and estimate the implementation cost for your lines of business and countries.