Manage your reinsurance program effectively and efficiently
Duck Creek Reinsurance Management 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.
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.
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.
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.
At New Mexico Mutual, we needed a better way to manage our 20+ year reinsurance contracts and streamline our reinsurance processing. Duck Creek has a comprehensive solution that enhances our data reliability and reporting.
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.