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INSIS Reinsurance from Fadata
An integrated reinsurance module that handles both ceded and assumed reinsurance across all insurance lines. Features include contract management, premium calculation, claims allocation, and statutory reporting.
Product analysis by function
Reinsurance Administration Systems for Reinsurance
Platforms that manage reinsurance contracts, track ceded premiums and losses, and ensure proper allocation of claims to appropriate reinsurance agreements.
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Contract Management
(0 Yes /0 Known /10 Possible features)
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Contract Template Library Provides pre-defined templates for different types of reinsurance contracts. |
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Version Control Tracks historical changes and different versions of contracts. |
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Contract Document Storage Allows for electronic storage and retrieval of contract files. |
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Automated Endorsement Handling Automates the process of adding endorsements or amendments to contracts. |
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Contract Renewal Management Facilitates tracking and managing contract renewals and expiries. |
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Contract Search and Retrieval Quickly searches contracts based on various criteria (cedents, dates, treaty types, etc.). |
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Multi-Currency Support Supports contracts and transactions in multiple currencies. |
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Multi-Language Support Supports user interfaces and document generation in different languages. |
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Automated Contract Validation Checks new or amended contracts for business rule compliance. |
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Bulk Upload/Import Allows import of multiple contracts at once. |
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Data Integration
(0 Yes /0 Known /10 Possible features)
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Core System API Integration APIs for seamless integration with insurance policy admin and claims systems. |
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Batch Data Import/Export Supports scheduled or on-demand bulk imports/exports. |
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Third-Party Data Source Connectivity Integrates with external data providers (rating agencies, regulatory sources, etc.). |
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Real-Time Data Sync Synchronizes key data entities in (near) real time. |
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Data Mapping Tools Built-in tools for mapping and transforming data between systems. |
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ETL Performance Throughput for extract/transform/load operations. |
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Message Queue Support Handles integrations via message queues (e.g., Kafka, RabbitMQ). |
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File Format Flexibility Supports multiple data/file formats (XML, JSON, CSV, etc.). |
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Automated Error Handling Automated detection and reporting of integration errors. |
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Data Encryption Encrypts data at rest and/or in transit during integration processes. |
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Premium Processing
(0 Yes /0 Known /10 Possible features)
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Automated Premium Calculation Automates premium calculation based on contract terms. |
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Premium Bordereaux Generation Generates bordereaux reports for ceding premiums. |
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Premium Adjustment Handling Manages mid-term or retroactive premium adjustments. |
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Split Allocation Allocates premiums across multiple treaties or layers. |
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Currency Conversion Automatically converts premiums based on current exchange rates. |
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Automated Invoicing Produces and issues invoices for reinsurance premiums. |
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Settlement Tracking Tracks payment status and outstanding balances. |
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Reconciliation Tools Built-in tools for reconciling premium records against accounting systems. |
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Premium Payment Processing Speed Speed of processing premium payments. |
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Audit Trail for Premiums Comprehensive log of all premium-related transactions and edits. |
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Claims Handling
(0 Yes /0 Known /10 Possible features)
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Automated Claim Notification Enables automatic detection/notification of claims that may trigger reinsurance. |
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Claim Allocation Engine Allocates claims across applicable treaties, layers, and periods. |
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Recovery Calculation Calculates recoverable amounts from each reinsurer. |
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Claim Bordereaux Generates bordereaux for reinsurance claim submissions. |
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Claim Tracking Dashboard Visual tracking and status monitoring for reinsurance claims. |
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Subrogation/Salvage Handling Tracks subrogation and salvage and their impact on reinsurance recoveries. |
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Automated Reserves Calculation Calculates and allocates reserves relating to reported and incurred but not reported (IBNR) claims. |
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Settlement Processing Manages recoveries and settlements with reinsurers. |
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Dispute Management Tools for documenting and resolving claim disputes with reinsurers. |
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Average Time to Allocate Claims Average time required to allocate claims to contracts. |
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Financial Accounting
(0 Yes /0 Known /10 Possible features)
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Subledger Integration Maintains reinsurance subledger and integrates with main GL. |
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Automated Accruals and Deferrals Manages accounting entries for premium and loss recognition. |
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Multi-Basis Accounting Support Handles parallel accounting for GAAP, IFRS, local/regulatory basis. |
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Cash Application Supports matching incoming/outgoing cash with transactions. |
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Comprehensive Audit Trail Detailed logs of all financial postings and changes. |
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Tax Calculations Automates applicable tax/levy computations for reinsurance. |
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Foreign Exchange Handling Manages FX gains/losses arising from reinsurance transactions. |
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Intercompany Balancing Automates balancing transactions between different group companies. |
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Financial Closing Speed Average time required to close reinsurance-related accounts. |
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Regulatory Reporting Automation Automatically generates required statutory and regulatory financial reports. |
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Reporting & Analytics
(0 Yes /0 Known /10 Possible features)
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Standard Report Library Includes pre-built reports for common reinsurance reporting needs. |
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Custom Report Builder Tools for users to design, save, and schedule custom reports. |
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Ad-hoc Query Capability Allows users to quickly interrogate system data for custom analysis. |
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Interactive Dashboards Real-time, visual, interactive performance and risk dashboards. |
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KPI Tracking Tracks and displays key performance indicators for reinsurance business. |
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Drill-Down Reporting Ability to start at summary level and drill down to transaction details. |
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Report Scheduling Schedule automated report runs and distributions. |
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Export Capabilities Exports reports to multiple formats (Excel, PDF, CSV, etc.). |
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Data Visualization Tools Charts, graphs, heatmaps, and other data visualization features. |
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Reporting Latency Time to generate standard reports. |
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Regulatory Compliance & Audit
(0 Yes /0 Known /10 Possible features)
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Regulatory Content Updates System receives updates for new rules and regulatory changes. |
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Automated Compliance Checks Continually checks data/processes against compliance rules. |
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Audit Log Management Maintains comprehensive audit logs for every user/system action. |
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SOX Compliance Support Provides controls and documentation to meet SOX (Sarbanes-Oxley) requirements. |
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GDPR/Privacy Controls Implements data privacy safeguards and subject rights management. |
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Regulatory Report Catalog Built-in templates for regulatory submissions (NAIC, Lloyd's, Solvency II, etc.). |
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Access to Change Logs Provides full access to all change logs for compliance review. |
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Automated Data Retention Policies Implements automatic archival/deletion based on policy. |
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Role-Based Approval Workflows Enforces segregation of duties and approval chains on sensitive actions. |
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Compliance Reporting Speed Average time to prepare and submit compliance reports. |
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Security & Access Control
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Role-Based Access Control Restricts access to features and data based on user role. |
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Multi-Factor Authentication Requires more than one form of authentication. |
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SSO Integration Supports integration with enterprise single sign-on solutions. |
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Data Encryption at Rest Encrypts stored data to prevent unauthorized access. |
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Data Encryption in Transit Encrypts data during transmission. |
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User Activity Monitoring Monitors, logs, and alerts on unusual or risky user activities. |
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Granular Permission Settings Allows fine-tuned control over access rights. |
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Audit Trails for Security Events Tracks all significant security-related operations. |
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Automatic Session Timeout Logs out users automatically after inactivity. |
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Password Policy Enforcement Configurable password complexity and rotation policies. |
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Operational Efficiency & Automation
(0 Yes /0 Known /10 Possible features)
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Workflow Automation Engine Builds, customizes, and executes automated processing workflows. |
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Task and Notification Management Automates and tracks user tasks, reminders, and escalations. |
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Robotic Process Automation (RPA) Integration Enables use of bots for repetitive manual processes. |
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Automated Alerts and Triggers User-definable rules for system-generated notifications. |
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Batch Processing Capabilities Supports high-volume batch jobs (e.g., monthly closings). |
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Workflow Execution Speed Average time to complete a typical automated workflow. |
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Customizable Dashboards for Operations Operations users can personalize dashboards to their needs. |
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Exception Management Tools Shows, tracks, and processes outliers or errors. |
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Bulk Transaction Support Handles uploading or updating multiple transactions at once. |
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Automated Documentation Generation Produces legal, operational, or notification documents automatically. |
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User Experience & Usability
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Intuitive Interface User-friendly, modern interface for efficient navigation. |
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Responsive Design Optimized for various devices and screen sizes. |
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Personalizable Home Pages Allows users to customize views, favorites, and shortcuts. |
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Contextual Help & Tooltips Provides on-screen help and explanations for features. |
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Global Search Enables users to search across all data and objects. |
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Accessibility Features WCAG compliance, keyboard navigation, screen reader support. |
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Guided Workflows Step-by-step guidance for complex or uncommon processes. |
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User Preference Management Users can set preferences for language, display, notifications. |
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Time to Onboard New User Average time it takes to train/onboard a typical new user. |
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Mobile Accessibility Degree to which main features are accessible via mobile devices. |
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Technical Platform & Scalability
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Cloud-Readiness Offers SaaS/cloud deployment options. |
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On-Premise Support Can be deployed on customer’s infrastructure. |
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High Availability & Failover Ensures system remains available in case of hardware failures. |
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Horizontal Scalability Ability to scale out resources as data volume/users increase. |
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Disaster Recovery Readiness Built-in disaster recovery and backup routines. |
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API Extensibility Ability to extend platform through APIs or plug-ins. |
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System Performance Transaction processing performance under standard load. |
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Maintenance Window Duration Average scheduled downtime needed for maintenance. |
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Automated Software Updates System updates are delivered and applied automatically. |
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Maximum Concurrent Users Supported Maximum number of users who can be logged in at once without performance degradation. |
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