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Sapiens ReinsurancePro from Sapiens
Comprehensive reinsurance management solution integrating broker connectivity features that allow for effective data management, risk assessment, and regulatory compliance.
Product analysis by function
Broker Connectivity Platforms for Reinsurance
Systems that facilitate electronic data exchange with reinsurance brokers and markets, streamlining placement activities and claims notifications.
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Core Connectivity
(0 Yes /0 Known /10 Possible features)
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Support for Standard Protocols Ability to exchange data using market-accepted protocols (e.g., ACORD, Ruschlikon). |
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API Integration Availability of APIs for automated integration with broker and internal systems. |
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Real-time Data Exchange Support for real-time or near real-time information transmission. |
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Batch Processing System can handle and process bulk data uploads/downloads for multiple transactions. |
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Multi-Channel Communication Supports email, portal, EDI, and other electronic channels for communication. |
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Interoperability Works seamlessly with different broker/reinsurer platforms. |
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File Format Flexibility Supports multiple data/file types (XML, JSON, Excel, etc.). |
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Connection Speed Average end-to-end message transmission time. |
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Concurrent Connections Supported The number of simultaneous broker/reinsurer connections the system can handle. |
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Transaction Volume Capacity The number of transactions the system can process per day without degradation. |
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Placement Workflow Management
(0 Yes /0 Known /10 Possible features)
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Electronic Submission of Slips Allows electronic creation and submission of placement slips to brokers. |
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Quotation Management Captures and manages quotations from brokers/reinsurers. |
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Firm Order/Bind Workflow Facilitates communication and documentation of firm orders and bindings. |
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Negotiation Tracking Tracks negotiation exchanges between parties. |
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Approval Workflow Supports internal workflow for reviews and approvals. |
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Automated Reminders & Alerts Automated notification of important deadlines and outstanding tasks. |
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Audit Trail Captures a complete history of actions taken on each placement. |
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Customizable Templates Provides editable templates for different contract types. |
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Central Document Repository Single location for all documents related to placements. |
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Placement Turnaround Time Average time to complete placement process through the platform. |
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Claims Notification & Management
(0 Yes /0 Known /10 Possible features)
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Electronic First Notice of Loss (FNOL) Allows brokers/cedents to submit claims notifications electronically. |
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Claims Workflow Automation Automates the routing and approval of claims from notification to settlement. |
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Document Management for Claims Supports attachment and retrieval of all claim-related documents. |
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Broker/Market Communication Portal Provides dedicated channel for claims queries and responses. |
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Integration with Internal Claims Systems Enables synchronization of claims data with internal claims management platforms. |
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Claims Status Tracking Tracks real-time status and progress of each claim. |
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Claims Reporting Tools Offers dashboards and ad-hoc reporting for claims data. |
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Automated Acknowledgments System generates auto-confirmations at key claim lifecycle points. |
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Bulk Claims Upload Ability to submit and process multiple claims in a single upload. |
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Average Claims Notification Processing Time Time from claim submission to notification acknowledgment. |
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Security & Compliance
(0 Yes /0 Known /10 Possible features)
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Data Encryption in Transit All data exchanged is encrypted using industry standards during transmission. |
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Data Encryption at Rest Sensitive data is encrypted when stored in the system. |
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Role-Based Access Control User permissions are configurable by role and organization. |
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Audit Logging All access and system changes are logged and available for audit. |
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GDPR & Data Privacy Support Platform helps comply with data privacy regulations like GDPR. |
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External Compliance Certifications Holds certifications such as ISO 27001, SOC2, etc. |
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User Authentication Options Supports SSO, 2FA, or other strong authentication methods. |
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Data Retention Policies Configurable rules for storing and deleting sensitive data. |
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Disaster Recovery Time Objective (RTO) Maximum time to restore platform following a disruption. |
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Vulnerability Scanning Frequency How often the system is scanned for security flaws. |
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Reporting & Analytics
(0 Yes /0 Known /10 Possible features)
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Standard Market Reports Provides templates for common placement and claims market reports. |
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Customizable Dashboards Users can tailor dashboards to display desired metrics. |
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Ad-hoc Report Builder Allows for creation of custom reports on demand. |
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Data Export Tools Options to export data to Excel, CSV, PDF, etc. |
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Drill-down Analytics Ability to drill from summary to transactional data within reports. |
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Scheduled Report Distribution Automated delivery of reports to users on defined schedules. |
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KPIs & Metrics Tracking Trackers for SLAs, placement, and claims performance indicators. |
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Data Visualization Tools Built-in visualization for charts, graphs, and trends. |
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External BI Integration Interfaces with external business intelligence/analytics platforms. |
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Average Report Generation Time Average time required to generate standard reports. |
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User Experience & Interface
(0 Yes /0 Known /10 Possible features)
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Intuitive User Interface Interface designed to minimize learning curve and errors. |
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Multi-Language Support System available in multiple major languages. |
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Accessibility Features Supports accessibility standards (e.g., WCAG) for users with disabilities. |
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Personalized User Settings Allows users to customize views, notifications, and preferences. |
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Responsive Design Optimized for desktops, tablets, and smartphones. |
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Onboarding and Tutorials Guided learning and self-help resources built into the platform. |
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Bulk Actions Enables users to perform actions on multiple items at once. |
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Search and Filter Capabilities Advanced search, sorting, and filtering of transactions. |
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Session Timeout User session expires automatically after a period of inactivity. |
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User Load Capacity Maximum number of active users supported. |
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Integration & Extensibility
(0 Yes /0 Known /10 Possible features)
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Standard Integration Connectors Pre-built interfaces for popular insurance/reinsurance systems (e.g., policy admin, claims systems). |
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Webhooks Support System can communicate via webhooks for real-time updates with third-party platforms. |
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Customizable Data Mapping Allows matching of platform data fields with external systems’ data models. |
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Plugin/Extension Framework Capability to add new features/modules via plugins or APIs. |
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Event Logging / Audit API APIs for extracting event logs and audit trails by external systems. |
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Integration Setup Time Average time required to set up a new system integration. |
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Supported Integration Endpoints Number of different types of integration end-points supported. |
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Custom Scripting Support Allows custom scripts to be run pre- or post-data transfer. |
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Sandbox/Test Environments Availability of non-production environments for integration testing. |
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Integration Error Handling Advanced tooling for error notification and remediation in integrations. |
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Performance & Scalability
(0 Yes /0 Known /10 Possible features)
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High Availability System is designed for >99.9% uptime. |
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Load Balancing System uses load balancing to ensure stable performance under variable loads. |
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Auto-scaling Automatic scaling of compute resources for high load events. |
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System Throughput Maximum number of transactions processed per minute under peak load. |
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Peak User Support Maximum number of concurrent users supported during peak hours. |
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Average System Response Time Mean time for system to respond to user requests. |
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Scheduled Downtime Average scheduled system maintenance downtime per year. |
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Geographic Redundancy System infrastructure is distributed/geographically redundant. |
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Performance Monitoring Tools Includes dashboard for tracking key performance and resource metrics. |
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Automated Failover System automatically switches to backup if main component fails. |
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Support & Maintenance
(0 Yes /0 Known /10 Possible features)
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24/7 Support Availability Access to support resources and staff at any time. |
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Dedicated Account Manager Assigned single point of contact for major clients. |
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Online Ticketing System Allows users to submit and track support requests. |
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Response Time SLA Average first response time for critical issues. |
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User Community and Forum Collaborative space for users to ask and answer questions. |
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Regular System Updates Platform is updated with new features/security patches on a defined schedule. |
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Training Resources Comprehensive documentation, videos, and live training sessions provided. |
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Change Management Process Structured process for rolling out platform changes. |
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Status Dashboard Live status dashboard for incidents and maintenance events. |
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Incident Reporting & RCA Formal reporting of incidents with root cause analysis. |
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Cost & Commercial Model
(0 Yes /0 Known /10 Possible features)
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Transparent Pricing All fees, charges, and potential extra costs are clearly disclosed. |
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Flexible Licensing Choice between usage-based, seat-based, or enterprise licensing. |
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Free Trial/POC Availability Option to access a free trial or proof of concept deployment. |
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Volume Discounts Discounting for high transaction/user volumes. |
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Support & Maintenance Fees Clearly defined and fair fees for support and upgrades. |
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Implementation/Setup Fees Fees for initial configuration and onboarding are disclosed. |
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Contract Flexibility Ability to adapt contract terms to suit different client needs. |
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Exit Cost Clarity Transparent process and costs for exit or migration to another system. |
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Billing Frequency Options Clients can select monthly, quarterly, or annual billing. |
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Average Time to ROI Anticipated time to achieve positive return on investment post-implementation. |
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