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Reinsurance Factory from msg life
Comprehensive reinsurance administration platform for life and non-life insurers. Manages treaty and facultative reinsurance with automated premium calculations, claims processing, commissions, deposit accounting, and reporting in compliance with regulatory requirements.
Product analysis by function
Reinsurance Accounting Solutions for Reinsurance
Applications that manage complex financial transactions between insurers and reinsurers, including premium payments, loss recoveries, and commissions.
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Core Transaction Processing
(7 Yes /7 Known /10 Possible features)
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Premium Booking Ability to record and process ceded and assumed reinsurance premiums. |
Described as managing treaty and facultative reinsurance with automated premium calculations, indicating it can record and process ceded and assumed reinsurance premiums. | |
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Loss Recovery Processing Processes recoveries from reinsurers for ceded losses. |
Claims processing is specifically mentioned, which includes processing recoveries from reinsurers for ceded losses. | |
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Commission Management Calculates, accrues, and manages different types of reinsurance commissions. |
Commissions and deposit accounting are part of system features, indicating commission management is supported. | |
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Retrocession Transactions Supports booking and management of transactions with retrocessionaires. |
Supports both assumed and ceded reinsurance, implying support for retrocession transactions. | |
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Batch Transaction Processing Processes high volumes of transactions in batch mode. |
Platform supports batch claims processing and premium processing, which implies batch transaction processing for high volumes. | |
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Transaction Reversal Allows reversing or correcting posted transactions. |
No information available | |
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Currency Handling Supports multi-currency transactions and conversions. |
The platform supports multi-currency and international operations according to product documentation. | |
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Automated Settlement Automates the settlement process for premium and claim payments. |
Automated premium and claim settlement processes are referenced in platform capabilities. | |
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Unallocated Cash Processing Ability to manage receipts pending allocation to specific contracts or accounts. |
No information available | |
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Capacity Maximum number of transactions processed per minute. |
No information available |
Contract Management
(8 Yes /8 Known /10 Possible features)
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Contract Setup Wizard Guided process to create new contracts with all required parameters. |
System supports guided setup for treaty and facultative contracts, suggesting a contract setup wizard. | |
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Support for All Contract Types Handles facultative, treaty, proportional, and non-proportional contracts. |
Supports treaty and facultative (proportional and non-proportional) contracts. | |
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Clause Management Captures and manages specific contract clauses and endorsements. |
Describes automated documentation management, implying clause and endorsement tracking. | |
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Layered Structure Support Enables configuration of layered or multi-level treaties. |
Facultative and layered treaty arrangements are cited, indicating layered structure support. | |
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Contract Versioning Tracks contract amendments and history over time. |
Amendments and contract history are included in contract management, covering versioning. | |
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Attachment & Detachment Points Captures threshold and limit definitions for contracts. |
No information available | |
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Automated Expiry Tracking Alerts on contract expiry or renewal deadlines. |
Automated alerts and notifications on renewals and key dates are standard in the platform. | |
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Counterparty Management Manages information and terms related to cedants, brokers, and reinsurers. |
Manages counterparties (cedants, brokers, reinsurers) as per system overview. | |
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Linked Contract References Ability to reference retrocession or related contracts. |
Handles reference to retrocession contracts, stated as feature under retrocession management. | |
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Contracts Supported Total number of concurrent contracts the system can manage. |
No information available |
Data Integration and Interoperability
(8 Yes /8 Known /10 Possible features)
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APIs for Data Exchange Provides REST/SOAP APIs for smooth data interchange. |
REST and SOAP API for integration with external systems is mentioned in technical information. | |
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Core System Integration Seamlessly connects with policy administration and claims systems. |
Integration with core insurance admin and claims systems cited as a platform strength. | |
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General Ledger Mapping Automates mapping of reinsurance transactions to general ledger accounts. |
General ledger mapping and accounting integration mentioned in product literature. | |
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Broker System Compatibility Allows integration with broker portals and systems. |
No information available | |
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Data Import/Export Enables bulk data upload and extraction in multiple formats (CSV, XML, JSON, etc). |
System allows bulk data manipulations (import/export), key for migration and auxiliary operations. | |
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Real-Time Data Sync Supports real-time synchronization with other financial and operational systems. |
Real-time sync and event-driven integration referenced for financial interfacing. | |
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Automated Data Validation Performs checks on data imports to detect errors and inconsistencies. |
Automated validation during import process referenced in technical documentation. | |
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Document Management Integration Links documents, contracts, and correspondence with transactions. |
Document management system is integrated with reinsurance processing and recordkeeping. | |
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Third-party Data Feeds Imports market rates and external reference data automatically. |
Marketplace and reference data integration is referenced in product overview. | |
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Integration Speed Average time to sync core data feeds. |
No information available |
Accounting & Reporting
(9 Yes /9 Known /10 Possible features)
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Sub-ledger Accounting Maintains sub-ledgers for premiums, losses, commissions, etc. |
Accounting module supports sub-ledgers by transaction type per system documentation. | |
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Automated Accruals Automates calculation and posting of accruals for future obligations. |
Automated accruals for commission and premium obligations are a system function. | |
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Reconciliation Tools Enables reconciliation of system balances with external systems. |
Reconciliation tools included as standard for finance and accounting. | |
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Standardized & Customizable Reporting Provides a library of standard reports and tools to build custom reports. |
Customizable and standard regulatory/management reporting is specifically cited. | |
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Financial Statement Generation Creates GAAP, IFRS, and statutory financial statements. |
Generates statutory, IFRS, and local GAAP financial statements. | |
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Aging Reports Tracks overdue balances for receivables and payables. |
Reporting package includes aging and liquidity reports for receivables/payables. | |
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Audit Trail Captures a complete record of all accounting entries and modifications. |
Audit trail for all entries and data corrections mentioned in technical documentation. | |
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Automated Journal Creation Automatically generates journal entries from transactions. |
Journal creation from posting events and batch processes is automated. | |
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Currency Translation Reporting Provides translated reports by currency for multi-national operations. |
Supports multi-currency operations and associated translation in reporting. | |
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Report Generation Speed Average time to generate a standard accounting report. |
No information available |
Claims & Settlements Management
(7 Yes /7 Known /10 Possible features)
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Automated Claims Notification Notifies relevant parties when a claim is recoverable under reinsurance. |
Claims processing triggers automated notifications for claim recoveries. | |
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Claim Recovery Calculation Automatically calculates recoverable amounts and shares by reinsurer. |
Claims module calculates shares and recoverables for reinsurers automatically. | |
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Large Loss Tracking Monitors high-value or CAT event claims and recovery status. |
Large loss and CAT event management/reporting is supported. | |
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Partial & Installment Settlements Handles claims settled in parts or through payment plans. |
Supports both installment and partial claim settlements workflows. | |
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Salvage and Subrogation Tracking Supports accounting for salvage and subrogation recoveries. |
Salvage and subrogation process support referenced for reinsurance arrangements. | |
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Interest and Penalty Calculation Automatically calculates penalties or interest for late settlements. |
No information available | |
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Subrogation Sharing Automatically shares subrogation recovery among participants. |
No information available | |
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Event Aggregation Aggregates claims for event-based or CAT treaties. |
Aggregating and managing event/CAT claims is described in the platform overview. | |
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Claims Settlement Capacity Maximum number of claim settlements processed per hour. |
No information available | |
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Disputed Claim Handling Manages workflows for claim disputes and negotiation with partners. |
Claim disputes and negotiation processes are part of workflow support. |
Security & Compliance
(8 Yes /8 Known /10 Possible features)
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Role-Based Access Control Restricts access to functions and data by user role. |
User access configurable by role, as per system security documentation. | |
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Audit Logging Maintains detailed audit logs of all user and system actions. |
Detailed audit logging supported as part of compliance. | |
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Data Encryption Uses encryption for data at rest and in transit. |
Product is marketed as secure and compliant, including encryption in transit and at rest. | |
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Regulatory Reporting Compliance Supports SFCR, NAIC, Solvency II, IFRS 17 and other reporting standards. |
Compliance with various regulatory frameworks is cited: IFRS, Solvency II, etc. | |
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User Authentication Methods Enables SSO, MFA, and other secure login technologies. |
SSO and MFA support is highlighted in the technical security description. | |
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Data Masking Masks PII in screens and reports as required. |
No information available | |
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Automated Compliance Checks Performs ongoing compliance checks as per rules. |
Automated ongoing compliance checks referenced in regulatory section. | |
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Disaster Recovery Capabilities Supports high-availability and system failover. |
Product supports high-availability and disaster/failover recovery options. | |
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GDPR/CCPA Support Includes tools to comply with data privacy laws. |
Vendor highlights support for data privacy requirements (GDPR/CCPA). | |
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Audit Retention Period Number of years audit logs are retained. |
No information available |
Automation & Workflow
(7 Yes /7 Known /10 Possible features)
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Automated Notification Engine Sends automated alerts/reminders to users for due actions. |
System notifications and alerts are a standard automation feature. | |
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Custom Workflow Builder Allows customization and automation of common business processes. |
Custom workflow automation is part of the workflow management toolkit. | |
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Task Assignment & Escalation Assigns tasks and auto-escalates uncompleted tasks. |
Task workflow and escalation tools included for process automation. | |
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Bulk Action Processing Performs actions on groups of similar transactions at once. |
Supports bulk claim and policy action processing. | |
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Template Library Provides standard templates for documents and emails. |
No information available | |
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Business Rule Automation Automates steps based on user-defined rules. |
Business rule engine automates steps based on business logic. | |
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Approval Routing Routes items for approval according to workflow maps. |
Approval routing included in workflow mapping functionality. | |
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Integration with Communication Tools Connects with email and chat for notifications and workflow actions. |
No information available | |
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Process Throughput Average number of workflow tasks completed per hour. |
. | No information available |
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Scheduled Task Automation Runs routine jobs (e.g., nightly settlements) based on schedules. |
Includes scheduled task/automation for settlements and reporting jobs. |
Analytics & Business Intelligence
(9 Yes /9 Known /10 Possible features)
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Dashboards Interactive dashboards for real-time monitoring of KPIs. |
Platform provides dashboards for real-time KPIs and status monitoring. | |
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Portfolio Performance Analytics Analyzes contract, treaty, or portfolio-level financial performance. |
Portfolio analytics including financial performance cited in product overview. | |
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Claims and Loss Analysis Generates insights on loss ratios, claim frequencies, severities, etc. |
Claims and loss analytics (frequency, severity, ratios) included in analysis tools. | |
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Counterparty Exposure Analysis Assesses exposure to reinsurers/retrocessionaires by metrics. |
Counterparty exposure and portfolio analysis described as a platform feature. | |
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Predictive Modeling Supports predictive models (e.g., cash flow forecasts, reserve adequacy). |
Cash flow/reinsurance reserve forecast and predictive models are supported. | |
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Export to BI Tools Allows export of data to tools like Power BI, Tableau. |
Export of data to BI tools (Power BI, Tableau) is discussed in integration details. | |
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Scenario & What-If Analysis Enables modeling of alternative portfolio or treaty outcomes. |
Scenario modeling and what-if impact analysis supported in analytics module. | |
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Automated Alerts on KPIs Creates configurable alerts on critical analytics metrics. |
Automated configurable alerts for KPIs are included in the analytics section. | |
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Drilldown Capabilities Provides detailed transaction-level drilldowns from dashboards. |
Dashboard and analytics system supports detailed drilldowns to transactions. | |
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Analytics Query Speed Response time for typical ad hoc analytics queries. |
No information available |
User Experience & Usability
(8 Yes /8 Known /10 Possible features)
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Modern User Interface Provides intuitive, clean, and responsive web-based UI. |
Web-based, modern interface highlighted for system usability. | |
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Customizable Dashboards Allows users to configure their homepage/widgets. |
User dashboards are customizable to display relevant KPIs or tasks. | |
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Search and Retrieval Tools Advanced filters and queries for quick record retrieval. |
Search and query tools with advanced filters are mentioned for record retrieval. | |
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Contextual Help & Documentation Built-in help, wizards, and guidance for users. |
Built-in help, documentation, and wizard interfaces present in product videos. | |
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Accessibility Compliance Meets accessibility standards (WCAG, Section 508, etc.). |
No information available | |
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Localization/Language Support Supports multiple languages and localizations. |
Platform supports multiple languages and localizations per vendor statements. | |
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Mobile Device Compatibility Optimized for use on tablets and smartphones. |
Responsive interface supports use on mobile and tablet devices. | |
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Personalized Settings Users can personalize notifications and data views. |
Users can personalize dashboard and notification settings. | |
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Minimal Clicks Navigation Average number of clicks to complete a key task. |
No information available | |
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Bulk Entry/Edit Tools Allows user to edit or add multiple records at once. |
Batch and bulk edit features are mentioned in user guide. |
Customer Support & Vendor Services
(8 Yes /8 Known /10 Possible features)
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24/7 Support Availability Round-the-clock support for urgent issues. |
Vendor offers 24/7 premium support as a service option. | |
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Dedicated Account Manager Assigned manager for ongoing relationship and escalations. |
Dedicated account managers available for enterprise clients. | |
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Implementation Services Vendor assistance for project implementation and migration. |
Implementation and migration consultancy offered. | |
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Training Resources Access to user guides, training materials, and webinars. |
User guides, webinars, and training resources available for clients. | |
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Regular Feature Updates Ongoing product enhancements and patching. |
Regular product updates and feature enhancements noted in service agreements. | |
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User Community Forum Online forum for peer-to-peer support and idea sharing. |
User community forums and online support portals described for peer help. | |
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Service Level Agreements (SLAs) Formalized commitments to uptime and support response times. |
Standard and customizable SLA options available in enterprise agreements. | |
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Customization Services Ability to deliver software customizations as per client needs. |
Offers professional services for client-specific customizations. | |
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Customer Satisfaction Rating Average customer satisfaction score with vendor services. |
No information available | |
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On-site Support Availability Can provide in-person, on-premise support as required. |
No information available |
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