Effisoft launches Individual life reinsurance software
Paris based software provider Effisoft, announced the availability of a new version of its reinsurance software solution WebXL, dedicated to individual life reinsurance management.
Initially developed to cater to insurance companies in terms of P&C reinsurance management, WebXL reinsurance software gradually integrated new functionality for reinsurers (2002) reinsurance brokers (2003) then individual and group life reinsurance management for re/insurance companies. WebXL V3, launched in September 2011, is now evolving to offer even more sophisticated functionalities for life reinsurance management.
“Our international success has always pushed us to extend and enhance webXL’s functional coverage. We equip some of the largest companies of the industry, who necessarily use the full spectrum of ceded, oand retrocession functionalities managing their reinsurance operations.” Julien Victor, Effisoft managing director explains.
“Over the past 6 years, we implemented our solution with many major companies, mainly on the group life scope in the European market and on individual life (risk premium based cessions) in the Anglo-Saxon markets.”
With the new features of WebXL V3 – Life reinsurance, clients can:
- Create and follow treaty and facultative arrangements with new reinsurance conditions
- Manage reinsurer replacement on treaties
- Manage complex risk premium rate tables, including: select rates, accelerator factor, ultimate rates, option loadings…
- Handle various and complex policy scheme across several benefits, including additional information such as health details, various loading types in amount or in percentage
- Generate automatically reinsurer’s bordereaux for both premium and claims for millions of policies
- Strong analytics capabilities (such as possibility to get triangulation reports, calculation of retention per insured and/or per reinsurer…)
“Developed with modern technologies, with a high level of customizability, the new version of WebXL allows for the management of all types of life reinsurance contracts as well as related accounting procedures” Julien Victor adds.
“This strategic product development is a big step forward with regards to our ambitions for the north American market where we are frequently solicited for individual life cession management.”