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Reinsurance Platform

Reinsurance Platform™ by SysOne is a solution that allows insurers to manage all the active and passive reinsurance agreements and activities of all lines of business. It enables agile and flexible increases in operational efficiency and risk transparency through the control of the entire life cycle of reinsurance with the integrated automation of contracts, calculations and processes. It can also handle facultative and conventional agreements, both proportional and non-proportional through subscription management and claims. This approach generates the supply of accurate and timely

information for each of the cases, added to the support and compliance with current legal regulations. Reinsurance Platform ™ can be implemented as an integral solution or a complementary module of the Insurance Modular Suite ™ of SysOne, allowing the creation of multiple layers and parameters thanks to its flexible configuration based on Java and a service-oriented architecture, fully prepared to scale the volume that the business requires.


Features

Support of all types of contracts Processing all facultative or conventional reinsurance agreements, whether proportional or non-proportional for all lines of business.
Automatization Comprehensive processes for the allocation and calculation of premiums and claims, as well as for the detection of loss ratios and risks.
Simple user interface Standard look and feel for the management of all user operations.
Accounting integration Management of current account management, documents, results, balance sheets and figures of reinsurers and insurance brokers.
Audit logs Monitoring and support of all transactions and activities for compliance with current legal regulations.

Benefits

Integrated solution Storage and tracking of information within a single platform, reducing the need to obtain data from several systems or manual spreadsheets.
Increase in operational efficiency Automation of the critical functions of the reinsurance life cycle, eliminating unnecessary work and manual methods prone to errors in order to maximize internal productivity.
Reduction of exposed risk Ensures that each risk is associated with the corresponding process. It has a data repository that has the ability to track audits, information, processes and reports, in order to ensure safe and accurate operations.
Prevention of financial leaks Reliable and automated claims allocation and recovery process, through the exact calculation of the premium, the assigned reserve and the recoverable amounts.
Flexible architecture Configuration capacity from the design and its usability, to user permission controls. It is based on a service-oriented architecture (SOA).

Functionality

  • Proportional and non-proportional contracts.
  • Management of automatic and facultative contracts.
  • Detection of loss ratios and risks.
  • Premium distribution control.
  • Control of settlements.
  • Detailed assignment association.
  • Bordereaux of bonuses.
  • Bordereaux sinister.
  • Portfolio profiles.
  • Management of current accounts of reinsurers and brokers.
  • Management of current accounts of reinsurers and brokers.
  • Reports with key performance indicators (KPI).
  • Reinsurance Analytics using graphics or dashboard.
  • Available in mobile format.

Architecture

Insurance Core™ architecture combines a focused processes and services designed to scale (SOA) with application integration and service partners approach. The platform supports both modules can be implemented with Open Source tools as container owners, obtaining a high availability environment.

Presentation layer

100 % Web, supports multiple devices. It is not necessary to realize discharges to be able to use the system, it is enough to have only the direction URL.

Services layer

It is service-oriented (SOA), based on REST API. HTTP services can be consumed by a wide range of clients including web browsers, mobile, other systems or tablets.

Each process and resource data is exposed through an HTTP service enabling communication and integration between various current or future devices.

Process layer

The platform has an extended BPM (BPMN 2.0) with ability to solve RunTime time domain objects (insurance business). These objects can potentially be mapped to the data layer (relational database, partner service, etc).

This extension of the BPM generates an added value that gives simplicity and ease of reading process. Thus the processes have the ability to understand the business model with their corresponding objects in a natural way, avoiding technical actions within the process.

The process layer also has the ability to execute business rules thanks to embedded rules engine.

Business logic layer

It maintains business rules, constantly updating.

Base layer and data access

The data access layer provides a separation of code by its function. This approach provides flexibility to change the data persistence mechanism in the desired time.