Growth of Ceded Reinsurance Management System Spurs Move to Larger Space.
Effisoft group sells its RMIS unit to the global software provider Ventiv Technology. Doing so enables Effisoft to strengthen its investments in its two other solutions: WebXL for reinsurance management and Solvaset for Solvency II requirements.
One insurance sector that’s strongly resisted digitalization until now is ceded reinsurance. But with a variety of software for reinsurance claims management increasingly available, that may be changing.
Managing catastrophe reinsurance claims is a big challenge for carriers. In particular, dealing with the “hours clause” can be baffling. But taking the best strategy can make a big difference in how much reinsurance you’ll collect.