Reinsurance is a particularly complex line of business. In many insurance companies, reinsurance is often handled by each business line using a different system, if any. Such complexity makes reporting extremely hard and can have many drawback on efficiency throughout the organization. From maintenance issues to tedious accounting, from redundant staffing to inefficient auditing, from inadequate allocation of capital to regulatory breach.

Consolidate to optimize

Insurance companies need to consolidate their reinsurance management to optimize their capital needs and be able to meet the requirements that new regulations such as SOX and Solvency II demand.

Imagine having a system that guarantees:

• A consolidated view on the reinsurance programs at the corporate level
• Central management of the reinsurance contracts
• Automatic linkage and reconciliation between inwards contracts and reinsurance contracts

Prima Solutions has exactly the system you need. Prima’s new product, Prima Re, provides you with a ready-to-use answer to all your reinsurance needs.

Manage, Reference, Produce

Prima Re is a powerful reinsurance management system that works in three levels.

• Manages information from several sources (e.g. cessions, placements, events),
• References other type of information with full traceability (e.g. inwards claims, policies or technical accounting) and
• Produces data that can be used by other applications (e.g. statistics, inventory, reserves).

With Prima Re, actions that were performed by several systems in different departments are now performed by the same centralized system.

Prima Re covers these three levels through its two views of the reinsurance activity:

• Transactions: record, update and calculate data, such as cessions, events, closings or outwards technical accounting.
• Reports: view consolidated reports such as dashboards of cessions, technical & financial evolution over the life of a cession, overview of reinsurer's activities, protection programs’ performances.

Simple, practical and effective

Prima Re’s user interface is simple and practical. Information is presented based on its context through graphics, reports or data sheets. Intuitive wizards guide the user step by step while entering the data. Information is only entered once and a powerful search engine enables finding and reusing any content. Prima Re is easily accessible from any web browser, providing a rich user experience.