Sapiens Reinsurance

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Sapiens ReinsuranceMaster is a comprehensive business and accounting system, providing a superior solution for all types of reinsurance contracts – treaty and facultative, and proportional and non-proportional. It enables insurers of all sizes to manage their entire range of reinsurance contracts and activities for all lines of business, including rich accounting functionality and reporting capabilities.

Our reinsurance solution enables full and flexible control of reinsurance processes, with built-in automation of contracts, calculations and processes. By incorporating fully automated functions adapted conveniently for your business procedures, Sapiens ReinsuranceMaster provides flexible and total financial control of your reinsurance processes, including complete support for all auditing requirements and statutory compliance.

The Sapiens ReinsuranceMaster Analytics module features query models for reinsurance program managers, analysis of business results and essential key performance indicators supporting the decision-making process.

Supported by Sapiens’ global presence and regional business expertise, Sapiens ReinsuranceMaster supports global operations and all reinsurance business and accounting needs, including extensive multi-currency support and multi-language capabilities.

Key Features

Comprehensive in-depth business functionality:

  • Complete audit trail for all transactions, activities & processes
  • Consolidated and detailed information, providing a firm basis for all regulatory reports and compliance

Process and operations management:

  • Workflow and activity management – integrated activities and follow-ups based on business rules
  • Document management – integration to document management systems enabling attaching external documents to reinsurance entities e.g. contract wording, etc.

Ease of use:

  • Configurable & table driven – parties, contracts
  • Easy-to-use browser-based user-interface, featuring a standard look-and-feel
  • Support for automated uploads as well as manual processing

Advanced technology & infrastructure:

  • Implementation available on platform of choice – iSeries, Intel/Windows, etc.
  • Database independent – DB/400, SQL Server, etc.
  • Java-based componentized architecture
  • Browser-based, Web enabled
  • Interfaces easily to external applications – policies, claims, accounting, etc.; the SOA architecture provides convenient integration to any external application or service

Information retrieval ‘out-of-the-box’:

  • Detailed inquiries of all entities – party, contract, policy, claim, account, etc. – via numerous parameters
  • Technical documents and bordereaux
  • Current account – statement of account; aged debt report, etc.
  • Operational reports - detailed transactions

Business Intelligence:

  • Query models and essential KPIs supporting the decision-making process.
  • Essential reinsurance information required for compliance and Solvency II.
  • Business queries included – profitability analysis, triangulations, risk profile, claims profile and reinsurer exposure
  • Accounting information – presentation and analysis of all business results in numerous dimensions
  • Based on a dedicated reinsurance BI multi-dimensional data model
  • Queries presented in both grid and graph format; results are exportable to printable format or to an Excel workbook.

Key Benefits

  • Superior business processes and operational support from automated reinsurance calculations and processes dramatically improve operational effectiveness and efficiency
  • Accurate premium calculation and superior claim recovery functionality prevent financial leakage
  • A comprehensive data repository with full audit trail capability provides tracking and follow-up of all information and processes, consolidated view of liabilities and risks, as well as comprehensive reporting, which reduces risk
  • A complete audit trail and detailed tracking of processes, user activities and financials ensure full compliance with up-to-date regulations

Product/Service details