Duck Creek Reinsurance
Reinsurance
Centralize, Streamline, and Automate Your Reinsurance Processes
Whether you’re managing treaties or facultative contracts, get the control and clarity you need to reduce risk and scale across markets with ease. Manage all your contracts from underwriting to endorsements and renewals with a flexible solution that supports multi-currency operations and multi-GAAP and IFRS standards.
Benefits
Maximize Recoverables and Reduce Claims Leakage
Identify all claims meant to be covered by reinsurance by accurately calculating recoveries, and rapidly creating reinsurance bills. Ensure all reinsurance ceded or assumed achieves its intended goals of helping reinsurers and brokers manage risks and making available the capital needed to support those risks.
Improve Process for Contract Certainty
Digitally transforming reinsurance administration creates opportunities to strategically leverage data in ways that were previously extremely difficult. With the ability to better understand reinsurance transactions and outcomes, finance and risk management teams can leverage data to make critical decisions regarding risk appetite and support reinsurance contract negotiations.
Increase Reinsurance Operational Efficiencies
Transform complex reinsurance treaty administration productivity through automation, standardization, and data transparency for a more efficient and effective reinsurance administration program. Use our LORS integration to automate and simplify reinsurance ceding processes.
Key Features
- Centralize all your reinsurance policies in one place within the platform for greater visibility and security in your data processing
- Manage all types of contracts, including treaties, facultative reinsurance, proportional and non-proportional contracts, excess loss, stop loss, quota share, and more
- Support both P&C and general insurance, as well as life and health insurance
- Easily navigate through contracts structure on a schematic view for quick information access (from program to account status through the layers)
- Handle your contract renewals efficiently and save considerable time by copying an existing contract with its contractual terms from the previous year
- Easily view and update the status of your claims at any time
- Centralize all of your claims with dates and events in a single platform
- Attach all dates and times for multiple claims to a single event
- Automatically determine and update the optimal period for an event’s retroceded amounts through an hours clause
- Manage and link events and claims to multiple ceding companies
- Automate the production of your technical accounts for your partners—ceding companies, reinsurers, and brokers—at the frequency you want.
- Robust and accurate calculation engine for premiums and claims, including expenses, commissions, rates, reinstatement premiums and more reinsurance terms
- View a cumulative summary of all your reinsurance contracts
- Support all account types, in acceptance and retrocession, including estimated accounts, final accounts, provisional premium accounts, and cash call accounts.
Testimonials
Experience Smarter Reinsurance in Action
Whether you’re starting fresh, modernizing legacy systems, or looking to
make a digital transformation, our multi-faceted team of insurance and technology experts
can help get you there.
Useful Resources
Press Release
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Read MoreFrequently Asked Questions
Duck Creek is committed to providing the information you need to solve your insurtech needs. Find answers to common questions below or, if this information isn’t enough, fill out the form at the bottom of the page. Our team will respond with the answers you need.
Can I purchase Duck Creek products as a stand-alone, best-of-breed product, or only as part of a suite of products?
Duck Creek offers you the flexibility to purchase our products either in a stand-alone implementation, as part of an à la carte suite of products, or as a comprehensive suite. Our products are designed to work together or independently, providing you with the choice and flexibility you need.
What are the benefits of buying Duck Creek products as a suite?
Integration: The products are designed to work together seamlessly, providing a more streamlined and efficient experience.
Cost savings: Purchasing products as a suite may offer cost savings compared to purchasing them individually.
Consistency: Using a suite of products from the same company ensures a consistent user experience and reduces the learning curve for new users.
Are Duck Creek products available on the cloud?
Yes – Duck Creek’s products are deployed on Microsoft’s Azure cloud. Our evergreen SaaS (Software as a Service) platform is designed to lower the total cost of ownership for your solution without the need for large IT (Information Technology) teams and expensive upgrades. And with Active Delivery, available for Claims and Policy today and rolling out to all Duck Creek products, when a new version of a Duck Creek product comes out, “feature flags” allow you to accept the update on your terms, and start using the new version when you choose without deploying an IT team to manually update the system.
