The SurSite® Solution
- The SurSITE® Advantage
- Reinsurance Management
- Technical Accounting
- Contract Types
- Business Intelligence
- Solving Problems with SurSITE®
Increase Accuracy
Supports complex facultative and treaty contract scenarios, eliminating costly, difficult-to-detect human errors made in manually calculating premium and loss allocations
Save Time
Reduces time used for complex multi-contract reinsurance recoveries while increasing the accuracy of the underlying calculations.
Save Money
Reduces large administrative costs by extensively automating technical accounting methods to industry standards.
Reinsurance Management
The Reinsurance Contract Management module, like the Technical Accounting Transaction Engine is based on three internal contract types, which are used to structure the overall business model and allow for the flow of transactions throughout the system.
These contracts are the assumed ceding contract (see Contract Types), retention or book-of-business treaties, and retrocession contracts. The retention or book-of-business treaty contracts represent a key component of the SurSITE® model and form the basis to define reinsurance contracts to Cedant and protect the business through collective retrocession contracts. The book-of-business or pool treaty also allows producing companies to participate as "reinsurers" at the book-of-business level. Thus, obtain a portion of all written business ceded to the book-of-business treaty contracts.
The "Assumed Ceding Contracts" allow the producing company to assume both direct and indirect business. The retrocession contracts provide a company with the ability to buy protection for the business, which it assumes into its retention or book-of-business treaties. All contract types accept manual transactions by manual insertion at any point in the automated insurance/reinsurance contract workflow.