Automatic

eReinsure offers a module for "automatic" or "program" reinsurance facilities. Insurers can now "automatically" bind reinsurance based on your pre agreed facility terms and can obtain real-time bordereaux reporting.

The workflow for the client is very simple: the user chooses an automatic and the system displays an automatic-specific screen, where all of the fields, labels and layout are tailored to your specific automatic.

When the user completes the screen and submits the information, eReinsure engages the rules engine. Collaborating with you on the rules to be applied, eReinsure can determine if the data entered is valid and if the submission fits into the automatic. If the rules engine determines the submission doesn't fit it returns a descriptive error to the user.

If the submission fits, the system proceeds to rate the submission based on the rating model defined by you. The rating engine can make use of lookup tables, equations, calculated values and any of the data entered by the user.

The results of the rating are returned to the user on the quote screen. The user can decide to bind reinsurance at that point. They can also cancel or save as draft.