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msg.Reinsurance from msg life
A comprehensive reinsurance management solution covering proportional and non-proportional treaties, facultative reinsurance, and retrocession. The system handles premium calculations, claims recovery, commutations, and provides extensive reporting capabilities.
Product analysis by function
Reinsurance Management Software for Risk Management
Applications that manage reinsurance contracts, track ceded premiums and claims, and optimize reinsurance strategies to balance risk transfer and retention.
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Contract Management
(0 Yes /0 Known /12 Possible features)
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Multi-type Contract Support Ability to handle multiple contract types such as treaties and facultative placements. |
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Version Control Tracks changes and maintains previous versions of contracts for audit and rollback. |
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Clause Customization Customizable contract clauses to reflect unique terms and conditions. |
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Attachments and Documentation Store and retrieve documents, endorsements, and supporting files attached to contracts. |
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Contract Renewal Automation Automatic reminders and tools to manage the contract renewal process. |
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Contract Limit Tracking Automatically tracks and notifies on contract limits and exhaustion. |
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Counterparty Database Stores and manages reinsurer and broker entity information. |
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Contract Approval Workflow Built-in workflows for contract negotiation, review, and approval. |
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Contract Term View Easy visualization and search of contract terms and timelines. |
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Contract Import/Export Exports or imports contract data in multiple file formats. |
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Contract Hierarchies Links related contracts through master/slave or program structures. |
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Language Support Provides multilingual contract creation and storage. |
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Premium and Claims Tracking
(0 Yes /0 Known /10 Possible features)
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Ceded Premium Calculation Automated calculation of ceded premiums as per contract terms. |
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Assumed Premium Tracking Monitors premiums when acting as a reinsurer. |
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Claims Notification Tools for alerting relevant users/entities regarding new or outstanding claims. |
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Recovery Processing Automates calculation and processing of paid-to-date and expected recoveries. |
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Retrocession Support Tracks outwards retrocession arrangements linked to inbound reinsurance. |
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Management of Bordereaux Automated ingestion and handling of bordereau files for bulk data processing. |
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Outstanding Amount Tracking Tracks and reports on outstanding premiums and recoveries. |
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Reserve Management Automated calculation and updating of case and IBNR reserves. |
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Cash Call Management Initiates and tracks cash calls as per contract provisions. |
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Currency Support Supports tracking in multiple currencies and real-time FX updates. |
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Financial Accounting and Reconciliation
(0 Yes /0 Known /9 Possible features)
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Automated Journal Entries Auto-generation of accounting entries for premium, claim, and recovery transactions. |
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General Ledger Integration Direct integration and posting to the general ledger system. |
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Audit Trails Captures a detailed record of all changes and transactions. |
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Reconciliation Tools Automated matching and reconciliation of reinsurance accounts. |
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Settlement Processing Automates calculations and distributes payment instructions for settlements. |
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Sub-ledger Capabilities Maintains separate sub-ledgers for detailed tracking. |
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Multi-entity Support Handles transactions across legal entities. |
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Financial Statement Generation Generates financial summaries and statements for reinsurance transactions. |
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VAT & Tax Handling Automated calculation and posting of taxes and withholdings. |
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Risk Analytics and Reporting
(0 Yes /0 Known /10 Possible features)
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Risk Aggregation Analysis Calculates and visualizes aggregated risk exposures. |
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Scenario and Stress Testing Simulates impact of catastrophic and extreme loss events. |
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Probability of Attachment/Exhaustion Assesses the likelihood of cover layer activation or exhaustion. |
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Loss Triangles and Development Generates loss triangles for reserve analysis and development factors. |
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Dynamic Dashboard Customizable dashboards for key risk and financial metrics. |
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Real-Time Data Update Reflects the most current data in analytics and reporting. |
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Automated Regulatory Reports Creates reports for statutory and solvency submissions. |
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Exposure Mapping Visual mapping of exposures by region or risk category. |
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Data Export Options Export analysis data in various formats (Excel, PDF, CSV). |
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Frequency of Report Generation How often reports can be generated or scheduled. |
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Optimization and Decision Support
(0 Yes /0 Known /8 Possible features)
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Retention Optimization Engine Recommends optimal retention levels based on risk appetite and cost. |
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Reinsurance Layer Structuring Tool for designing and comparing alternative layer structures. |
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Cat Model Integration Integrates catastrophe modeling software for event-based risk assessment. |
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Net Exposure Calculator Calculates net retained and ceded risk dynamically. |
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Scenario Comparison Compares multiple reinsurance programs or purchase options. |
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Contract Pricing Support Provides tools for structuring or negotiating ceded premium levels. |
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Automated Recommendation Engine Suggests actions based on risk analytics and market data. |
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Monte Carlo Simulation Allows probabilistic modeling of loss distributions and impacts. |
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Integration and Interoperability
(0 Yes /0 Known /7 Possible features)
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API Availability Open API or SDK for data exchange and process automation. |
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Core System Connectors Pre-built links to major policy admin, claims, and accounting systems. |
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File Import/Export Can import and export data through predefined templates/formats. |
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Event-Based Integration Integrates on real-time business events (not just scheduled syncs). |
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Third-Party Data Feeds Ability to integrate third-party exposure, claims, or actuarial data. |
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Batch Processing Speed How many records can be processed per batch operation. |
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Custom Mapping Tools User-configurable data mapping from source to target fields. |
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Security and Compliance
(0 Yes /0 Known /7 Possible features)
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Role-Based Access Control Granular permissions by user role and function. |
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Data Encryption Encryption at rest and in transit for data security. |
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Audit Logging Complete logs of user activity for audit and compliance reviews. |
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Regulatory Compliance Modules Pre-built or customizable compliance packs (e.g., SOX, GDPR, IFRS). |
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User Authentication Options Multi-factor, SSO, and advanced authentication support. |
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Disaster Recovery Automated backup, failover, and recovery systems. |
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Data Retention Policies Configurable rules for data storage and retention periods. |
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User Experience and Accessibility
(0 Yes /0 Known /8 Possible features)
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Intuitive UI Clean, modern, and user-friendly interface design. |
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Role-Based Dashboards Personalized dashboards for different job roles. |
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Guided Workflows Step-by-step processes for complex tasks. |
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Self-Service Reporting Users can build and customize their own reports without IT. |
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Notification Management Configurable email and in-app notifications/alerts. |
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Mobile Accessibility Access via mobile or tablet devices. |
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Accessibility Options ADA and WCAG compliance for users with disabilities. |
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Platform Localization Multilingual navigation and labels. |
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Data Management
(0 Yes /0 Known /7 Possible features)
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Data Validation Rules Automated checks to ensure data integrity. |
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Duplicate Detection Identification and elimination of duplicate entries. |
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Data Archiving Automated archiving based on policies. |
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Data Import Quality Checks Onboarding data with built-in quality and consistency checks. |
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Master Data Management Maintains single, accurate records of core entities. |
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Custom Field Support Users can define custom fields for specialized contract or claim data. |
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Retention Schedule Management Configurable rules for data aging and removal. |
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System Performance and Reliability
(0 Yes /0 Known /5 Possible features)
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System Uptime Guaranteed or average percentage of system availability. |
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Transaction Processing Speed Average time to complete transactions. |
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Concurrent User Support Number of users the system can support simultaneously. |
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Disaster Recovery Time Time to restore the system after a catastrophic failure. |
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Scalability Metrics Ability to handle increasing transaction or data volumes. |
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Support and Vendor Services
(0 Yes /0 Known /7 Possible features)
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24/7 Customer Support Access to technical/customer support at all times. |
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Onboarding Assistance Help with setup, configuration, and data migration. |
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Documentation Quality Comprehensive user and API documentation. |
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User Community/Forum Active user community for best practices and peer support. |
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Training Services Availability of training (online, in-person, or hybrid). |
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Service Level Agreements (SLAs) SLAs covering response and resolution times. |
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Regular Updates Frequency of software patches and feature upgrades. |
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