Ceded Property/Casualty Reinsurance Solution Spectrum

Abstract

There is considerable diversity among the ceded reinsurance solutions offered to primary insurers today. Celent describes how primary insurers should be seeking the best fit.

There is increasing interest among primary insurers in reinsurance solutions that provide recordkeeping and execution capabilities to make reinsurance programs provide the value they were designed to provide. In a new report, Ceded Property/Casualty Reinsurance Solution Spectrum, Celent profiles 10 ceded reinsurance solutions from nine vendors. The report looks at the solutions’ functionality, technology, customer base, and geographic footprint.

A ceded reinsurance system has six core elements: contract administration, underwriting support, a premiums and commissions calculation engine, a claims calculation engine, technical accounting functionality, and financial accounting functionality.

“An insurer looking for a ceded reinsurance solution, needs to understand its own business drivers as well as how prospective vendors’ technology responds to those drivers,” says Donald Light, Senior Analyst with Celent’s Insurance Group and author of the report.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

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Dana Greenstein
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Tel.: +1 646 364 8254

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Nick Bockh
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Tel.: +46.8.650.4401

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3500.3023