Beyontec Suite’s Reinsurance Module is a comprehensive risk evaluation and management tool that automates reinsurance allocations based on facultative, proportional, and excess of loss treaties.
Each feature of the module provides the specific functionality needed to support your business – the way you to – giving you the independence and freedom to adapt to market trends and requirements with greater speed and agility.
Workflow Driven Solutions
Beyontec Suite’s future-ready, workflow-driven reinsurance module has the ability to store treaty information, automatically calculate ceded amounts, and report to reinsurers with little to no manual interference.
Business Rule Engine
Driven by a powerful business rules engine, Beyontec Suite is preconfigured with a catalog of business workflow queues to enable straight-through processing.
Beyontec Suite’s real-time validation of risks allows any quote or policy that is outside the treaty limit to be highlighted to the underwriter.
Real-Time Treaty Allocation
Beyontec Suite executes the reinsurance program based on automatic treaty processing where parameters and allocation percentages are defined in the system.
Mid-Term Reinsurance Allocation
Beyontec Suite’s Reinsurance Module allows the insurer to close a treaty or change the re-allocation on a particular risk mid-term, allowing for more closely managed ceding.
Beyontec Suite generates periodic financial statements of ceding activities, keeping insurers and reinsurers informed.
Beyontec Suite provides the option to generate accounting entries for all treaties. The accounting entries include the debit and credit transactions to all insurer specific accounts.
Cash Call Processing
Beyontec Suite’s Reinsurance Module provides a “cash call” option when a claim exceeds the limits agreed to and defined in the treaty.
Non-Proportional Premium Processing
Beyontec Suite’s Reinsurance Module processes monthly excess of loss premiums based on defined layers within the system.
Non-Proportional Reinstatement Calculation
Beyontec Suite provides the facility to capture layer reinstatement premiums allowing reinstatements after claims.
Beyontec Suite’s Reinsurance Module provides automatic claim recovery from respective, defined treaties.