Duck Creek Reinsurance Management

Reinsurance processing, meet order and simplicity.

Reinsurance Management

About Benefits Key Features Resources Request a Demo

Manage your reinsurance program effectively and efficiently

Duck Creek Reinsurance Management ^{powered by XL} enables P&C insurance companies to enhance the value of their reinsurance programs. By automating critical reinsurance financial and administrative processes, Reinsurance Management helps cedants improve operational efficiencies, maximize recoverables, reduce claims leakage, and improve data analytics and financial reporting.

Benefits

Maximize the value of reinsurance purchases

By identifying all claims that are meant to be covered by reinsurance, accurately calculating recoveries, and creating reinsurance bills with speed, Reinsurance Management ensures that all reinsurance purchases achieve their intended goals of helping insurance companies manage risks and making available the capital needed to support those risks.

Enhance reinsurance administration decision making

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.

Icon-Lt-Purple-Insights-Speed_Efficiency

Increase the efficiency of reinsurance administration

Labor-intensive tools such as spreadsheets and unsophisticated databases, as well as legacy systems built on older platforms, are ill-equipped to manage today’s increasingly complex reinsurance programs. Through rules-based automation, standardization, and data transparency, Reinsurance Management creates a more efficient and productive reinsurance administration program.

Key Features

Contract and partner management

Cession calculation

Reporting

Modernize the way relationships and agreements are managed

Intuitive user interface for defining and tracking contracts and their association with reinsurers, reinsurance brokers, writing companies, or other partners

Supports complex reinsurance structures, including proportional and non-proportional contracts like excess of loss, quota share, treaty or facultative

Configurable business rules for easily defining the key attachment data elements associated with a particular reinsurance contract

Accurately identify and calculate all loss and premium transactions subject to reinsurance

Robust and accurate calculation engine for ceded premium and loss, including expenses, commissions, and other reinsurance factors

Integrations with policy, claims, general ledger, and other upstream or downstream systems to feed calculations and return results

Record and manage cash balances of receivables and payables by reinsurer, intermediary, writing company, or contract

Confidently deliver results for accounting and regulatory purposes

Automated production of billing statements, bordereaux, cover letters, footnotes, and supporting documentation

Automated regulatory reporting including Schedule F Part III

Out-of-the-box financial and operational reports within the application augmented by access to direct and cession data for configurable reporting needs

Testimonials

Reinsurance Management ^{powered by XL} offered an off-the-shelf host system that was configurable to meet the majority of our requirements. The team was willing to partner with us to meet several of our key requirements and Reinsurance Management ^{powered by XL} offered an excellent user interface and experience.

What’s Happening In Our World

Blog Resources Events

Press Release

Duck Creek leads a new era in reinsurance software with its...

Acquisition of Prima XL will expand Duck Creek’s global footprint across EMEA...

Blog Post

Top 3 Signs your Reinsurance Management System Needs...

Many insurers of all types and sizes have come to rely on...

Webinar

Webinar Replay: Resolving Reinsurance Operations Challenges...

Reinsurance has become an essential tool for carriers who seek to grow...

Expand Your Value with More Duck Creek Products

Policy

Customer needs are evolving rapidly. Duck Creek Policy is a powerful and flexible policy administration system that enables carriers to service the complete policy lifecycle.

Learn More

Claims

Duck Creek Claims lets carriers make better, faster claims handling decisions and reassure their customers in the ways they prefer when times get tough.

Learn More

See It In Action Today

Whether you’re launching a greenfield initiative, changing providers, or looking to make a digital transformation, our multi-faceted team of insurance and technology experts can help get you there.

Request a Demo