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The Need to Automate Reinsurance Programs
Claims Leakage, Complexity and Compliance Mean Carriers Need Dedicated Technology.
Effisoft USA, Inc. is hiring professionals to serve its fast-growing client base
The reinsurance industry has tripled since 2000 to reach 240 billion USD in 2013. Eager to keep up with this pace, major players in the business are seeking new outlets.
RMORSA, which became effective Jan. 1, and has been adopted by many states, requires insurers to have a systematic way of identifying, assessing and managing risk, including documenting ceded reinsurance coverage in detail.
Aon subsidiary Inpoint has formed a strategic partnership with reinsurance system provider Effisoft USA Inc.. The two firms will join forces to offer property-casualty insurers Reinsurance Processing Services (RPS ), which includes Effisoft's robust reinsurance processing platform, WebXL, coupled with Inpoint's reinsurance technical accounting expertise.