The Reinsurance component fully equips the insurance companies to automate, manage and simplify the complexity of reinsurance contracts management as well as automate ceding of risk based on different parameters thus effectively assisting in implementing and monitoring the risk management strategy of an enterprise . Parameterization helps in dynamically responding to the fast changing reinsurance requirements/arrangements.

The Reinsurance component developed under the FirstApex Insurance Components (FIC) is a complete end-to-end solution for Reinsurance needs which enables the insurance companies in

• Effective administration of reinsurance (RI)  contracts
• Effective placement of Multi-Layered RI cessions
• Multi Settlement Process

Key Features:

• Proportional & Non-Proportional Treaties handling
• Separate ceding for different covers/perils  within the same policy
• Dynamic selection of panels/treaty rules based on risk parameter attributes
• Line or share % method of ceding
• Multiple RI Commission types (OGR, ONR, Fixed etc.)
• Automatic RI Recoveries in respect of claims
• Integrated Technical/Financial Treaty Accounting
• Exhaustive Reports