Outward Reinsurance Management
Objective
To efficiently and effectively manage the outward reinsurance function and provide appropriate support to underwriting management. To ensure that reinsurance documentation and transactions are produced, administered and processed promptly and accurately and in accordance with agreed service levels in order to accelerate cash flow.
We undertake to:-
- Manage the existing, or a wholly outsourced, outwards reinsurance function to agreed service levels and, where required, supply and manage additional experienced and knowledgeable technical support personnel
- Review the existing systems, processes and procedures and implement agreed changes that improve efficiency and enhance profitability without compromising the essential business controls
- Where necessary implement a programme, which will address any historic processing backlogs
- Work in partnership with underwriters to explore opportunities, which may enhance the value of their business
Reporting
We utilise i2blade, our unique insurance software, to provide bespoke management reports showing :-
- A summary tracking work in progress
- A review of the transaction volumes and values measured against the agreed service standards
- A log of the outstanding queries identifying the timeliness of resolution
- Broker and reinsurer performance
- Additional bespoke reports as agreed with underwriting management
Benefits
We have a track record of enhancing profitability for our clients and our main deliverables are:-
- Improved working practices and process efficiencies
- Knowledgeable and experienced professional management and technical personnel
- Accurate and timely processing of reinsurance transactions
- Early identification of potential problems, which facilitates action to minimise or eliminate exposure to potential bad debts and audit issues
- Accelerated cash flow and increased investment income
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