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.
Selecting a Ceded Reinsurance System? Consider SaaS or a Hybrid Solution
Insurers recognize they need a better solution, and there's progress. While quite a few insurers have implemented a ceded reinsurance system in the last few years, many more are planning to install their first system sometime soon. They want to have software that lets them manage complex facultative reinsurance and treaties and the corresponding policies and claims efficiently in one place.
As always we will be welcoming customers and prospects to our stand at AIRMIC 2015 this year in Liverpool. In addition, together with one of our clients, we are hosting a workshop entitled ‘How to impress the board with a dynamic risk register.’
Effisoft, announced the availability of a new version of its reinsurance software solution WebXL, dedicated to individual life reinsurance management.
Effisoft and UBPartner have been collaborating closely since April 2013 and their combination of skills and knowledge provides the perfect platform for delivering Solvency II reports.