Industry Problem

The global insurance industry recognizes that accurate and timely calculations and reporting of premium and loss allocations are essential to successful financial management of complex reinsurance contracts.

As currently managed and produced, usually in spreadsheet format, such financial and technical accounting results are subjectively variable, liable to human error, and usually lag behind the timely payment of claims among all parties to the reinsurance process. Moreover, the existing practice of making payment and claims decisions from manual calculations at lower levels in each corporate entity is cumbersome and simply cannot supply top management with geographic data allocations applied to each segregated line of business in a timely manner. Current allocations and calculations by top management on data compilation factors that affect crucial elements of insurer capacity, aggregate exposure, and risk of third party losses are too often little more than educated guesses.

SurSITE® is the solution to the management of these complex reinsurance problems common to the worldwide insurance industry.