Ceded and Assumed Reinsurance Administration Software
URS is a PC-based reinsurance system for ceded, assumed or retroceded reinsurance administration, regardless of volume. For years many carriers have relied on massive spreadsheets, physical documents and in-house experts to administer reinsurance. But the size of recoveries and the regulatory requirements for transparency make true automation a necessity if you want accuracy, reliability and peace of mind. Our URS and FRS clients include more than 100 insurers, strong evidence that the systems help carriers reach their business objectives.
Confidence in StoneRiver is well founded—we have developed reinsurance systems for nearly two decades and have seasoned teams with a track record of successfully implementing these systems.
A Reinsurance System for Efficiency, Profitability and Compliance
Streamlined operations, accuracy, consistency and productivity are all vital when it comes to reinsurance administration. Doing more and spending less time and money while doing it is the goal for competitive carriers today.
Key Features
- Automated attachment, calculation and posting of premium, loss cessions and retrocessions
- Reinsurance accounting and cash management consolidated into one area
- One-click, accurate generation of Schedule F
- Consistent application of contract rules with treaty and facultative contract management
- Management of reinsurance claims with customized billing, first notice of loss, and status request letters
- Error and exception reporting … nothing falls through the cracks
- Less reconciliation effort
- More functional value available
With true reinsurance automation you can rest assured that no claims or recoverables are overlooked. Your combined ratio can improve. And you can evaluate terms with “what-if” modeling.
Key Features
- Automatic notification of potential reinsurance claims
- Identification and calculation per risk, per occurrence, proportional and catastrophe loss recoveries
- Lower combined ratio from lowering operating expenses
- “What-if” ceded reinsurance experience analysis modeling to see how changing terms and conditions affects current or proposed programs
- More functional value available
The regulatory climate continues to become more complex, and ensuring compliance is critical.
Key Features
- Accurate statistical reporting for Schedule F exhibits and Schedule P
- Complete audit trails showing attachment and processing for SOX compliance
- More functional value available