Overview
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.
Benefits
Speeds time to market and reduces cost of implementation
If you are a broker or reinsurer creating one-off solutions for your automatics, then eReinsure can shorten your time to market. By using eReinsure's automatic module, a cost effective solution can be delivered without placing additional demands on internal IT resources.
Automated Bordereaux
Binding triggers an automated, real-time update to the bordereaux. Manual creation and maintenance of the bordereaux is eliminated.
Ensures complete data capture
Each facility template contains required field as defined by you. Required data must be entered before quoting or binding can take place.
Reduces errors
Manual data collection with its possible transposition errors is eliminated. Information flows directly to the bordereaux and the same electronic record supplies the data to all the parties to the transaction.
Immediate notification of risks bound
With the eReinsure automatic module, you know immediately when each risk is bound. There is no waiting to see how the facility is used and how much business is being placed. Monitoring begins the moment the automatic is implemented.
Speeds billing and shortens payable cycle
Information on each bound deal is available to you and the insurer on a real-time basis. Billing need no longer wait for a period of months for data collection by your client.
Increases flexibility in program design
eReinsure's powerful "Business Rules Engine" permits enhanced creativity in program design. Internal or external "look-up tables" can be incorporated together with rating algorithms.
Instant audits
With real time data always available to you, audits of the program can be performed as frequently as you choose.
Maintenance is outsourced
eReinsure maintains the facility and stores the data in a secure state of the art data center.
Integration
eReinsure currently supports system to system connections with a number of clients. You and your ceding clients can integrate eReinsure automatic facilities with your own systems.