FirstRe Neo is a fully integrated software solution for the reinsurance industry. Operational and business process support for both Treaties (Proportional and Non-Proportional) and Facultative (Property, Marine, Casualty, Life, Accident, Disability etc.) is catered for, as well as handling of Direct and Retrocession businesses.
The application provides seamless integration between Reinsurance Underwriting, Claims, Retrocession, Risk Accumulation and, Control and Accounting.
The system addresses global as well as country-specific operational, processing and reporting requirements. It is also suited for the larger international operations in which reinsurance transactions usually take place.
FirstRe Neo Components
- Treaty Underwriting
- Treaty Claims
- Treaty Technical Accounting
- Facultative Business Underwriting
- Facultative Business Claims
- Facultative Business Technical Accounting
- Direct Business Underwriting
- Direct Business Claims
- Direct Business Technical Accounting
- Outward Business (Retrocession) Processing
- Outstanding loss processing
- Accounting
- Financial Accounting
- Reserve Accounting
- General Ledger Link
- Management Enquiries and Reports
Key Benefits
- Improves Operational, Management Information and Audit Trail processes.
- Fully integrated system allows automatic transfer of underwriting data to other modules.
- On-line enquiry for ready information & business analysis.
- Business analyses - on-going agent / broker performance analysis, risk profile analysis by territory or class of business. Cedant, broker and client-wise business control.
- Better risk management through Risk blocking facility to minimize accumulation/catastrophe exposure and arrange retrocession. Risk Blocking.
- Code is user-definable and accumulation can be by territory-wise, cedant-wise, or on individual risk.
- The entire renewal cycle is fully automated.
- Improves Management Control tremendously through ready access to timely, relevant and accurate information for critical business decisions
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