Our Solution

ReTech is our corporate repository of reinsurance domain knowledge that is intrinsic to our SurSITE® software system. Indeed, ReTech brings together a unique combination of insurance industry professionals who have decades of "hands-on" experience in the arcane arena of reinsurance technical accounting allocations throughout every stage of the reinsurance contract workflow.

SurSITE® has been seven (7) years in its development. This extensive experience in the reinsurance industry is the genesis of ReTech's unique software now available to the insurance industry. SurSITE® engages this domain knowledge and experience to insure proper financial resolutions to most common reinsurance allocation problems. SurSITE®'s carefully controlled and correct financial resolutions then become the proper basis of enhanced management reporting.

SurSITE® automates and manages every step of an insurer’s regional or local subsidiary reinsurance workflow and calculations process in order to precisely achieve the correct premium and loss allocations to each reinsurance contract in a reinsurance program. SurSITE® thereby enables insurer and reinsurer management and its internal and external auditors to monitor and verify every step in the subsidiary contract workflow process from claims notification reports, loss recovery reports, and regulatory reports. SurSITE® then aggregates its financial data results for participating subsidiaries by line of business and geography – both before and after applied reinsurance. SurSITE® then compiles the data into a reporting format that top management needs to make timely and correct financial decisions that are proactive. The resulting consolidated financial data give top management a clear picture of an insurer’s worldwide capacity utilization and exposure broken down by each subsidiary or business unit and by each line of business. Moreover, the SurSITE® data reports can reveal an insurer’s potential exposure to the security of its reinsurance agreements where changed financial conditions may negatively affect the ability of a 3rd party participant to meet its reinsurance obligations. Now available for the first time, SurSITE® manages every step of the premium and loss allocation, financial control, and reporting problems that are common to the universe of companies in the worldwide insurance and reinsurance industry - all at the speed of NOW!

All this in virtually real time compared to the cumbersome and time-consuming and error prone processes in existence – human judgment and hand and/or spreadsheet calculations applied at the subsidiary level to subjectively interpret contract terms prepared at the top corporate levels. Furthermore, once the SurSITE® data repository is in place, software modifications unique to each insurer client will enable top management to choose alternative reinsurance contract scenarios to maximize its financial and regulatory capacity while minimizing its premium cost and liability exposure.

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