Growth of Ceded Reinsurance Management System Spurs Move to Larger Space.
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.
Catastrophe bonds are an increasingly important form of risk transfer for insurers. Cat bonds are a peculiarity of the US reinsurance market, where about 125 to 200 natural disasters occur yearly. The cat bond market has been growing steadily for the past ten years, and ceded reinsurance systems should include features needed to manage these reinsurance bonds.
The belgian company is specialised in credit reinsurance underwriting and wanted a complete centralized reinsurance information system.
Reinsurance finds itself at the heart of Solvency 2. It is a fact that manual or semi-automated reinsurance operations management will become problematic as early as 2012...