TCS BaNCS for Reinsurance

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TCS BaNCS for Reinsurance, adopting the philosophy of Digital First, Cloud First, is designed to manage a range of complex reinsurance contracts involving multiple ceding criteria and mitigate risks, delivering comprehensive protection. The solution protects reinsurers’ portfolio from catastrophic exposures and random fluctuations, while maintaining a healthy loss ratio. Its parameter-driven solution can establish and update business processes, eliminating hassles of complicated and time-consuming methods.

TCS BaNCS for Reinsurance, offers functionally-rich, flexible and user-friendly support for insurance operations. The solution is operated through an easy-to-use web-based interface, supporting multiple languages and currencies, and is customizable to suit specific business needs. It automates key business processes within a workflow, enables a seamless transition to a paperless office, reduces billing and collection cycle times, and enables superior customer service.

Key Features

  • Automatic treaty and facultative contracts
  • Reinsurer and broker information maintenance
  • Automatic retention calculation and down grading rules
  • Risk accumulation and retention management
  • Rules for calculation of sum at risk and reinsurable premium for life business
  • Automatic premium cessions to multi-reinsurer and multi-layer reinsurance program
  • Automatic proportional and non-proportional claim recovery
  • Supports retroactive and mid-term changes with clawback
  • Cedes to a combination of automatic and retro contracts
  • Facultative placements and acceptances
  • Per-risk, catastrophe and aggregate XOL functionality
  • Reinsurance accounting and reporting including statistical and regulatory reports
  • Integrated documents manager
  • Administration of inward reinsurance
  • Reinsurer / broker recoverable
  • Multi-currency support
  • Cash application and settlement of payments/ receivables
  • Diaries and tasks management
  • Role-based security with SSO capabilities

Key Benefits

  • Speed and flexibility
  • Complete functional coverage
  • Automation of key business processes
  • Enhanced operational efficiency
  • Reduced manual processes



Product/Service details