Business case for reinsurance administration automation
What are the risks and issues relating to reinsurance management? How do you raise management awareness and present the business case for implementing a modern digital solution for reinsurance management in your organisation?
Reinsurance is crucial for company success and when reinsurance digital solutions are implemented, companies can reap significant business benefits:
• Comprehensive information management.
• Prevent claim leakage.
• Optimise operational activities.
• Accounting support.
Reinsurance programs can be complex – consisting of various contract types, multiple layers and attachment points, and various terms and conditions. The sheer complexity of a reinsurance program creates great difficulty when trying to manage the company exposure and provide reliable information for operational reporting, decision making, MI and regulatory reports. Is the company entirely reliant upon a small group of individual experts for performing these crucial tasks?
A recent industry survey found that insurers initially thought they were successfully managing their programs, only to discover that, at best, they could not provide accurate snapshots and projections to senior management.
Read the whitepaper to discover the business case for implementing a reinsurance program.