 RIOTX A fully featured Reinsurance Outward Treaty/Excess of Loss recovery system handling all types of Excess of Loss protection. Proportional treaty and facultative reinsurance is also supported. Built around a single IBM database and programmed using the latest Microsoft VB.Net technology. Excess of Loss Features: Support various types of Excess of Loss Contract Specific Limited General General Umbrella Top & Drop
Maintain Contract Details Record Recovery Program Details Maintain Loss/Event records Maintain Recovery Program Specify Contracts applying to program
Calculate Recoveries By Date of Loss or Date of Settlement Handles Interlocking clause, benefitting or other specific terms Calculation can be done either on a periodic or ad-hoc basis
Manual Recoverable Adjustments Reallocation of Recoveries Recoverable amounts split over currencies in the same proportion as originally advised Calculates the movement since the previous collection Exhausted layers flagged to prevent further action
Create Transactions and Loss Advices Once authorised Recovery Transactions can be processed on block or individually Pre-set minimum amounts prevent small collections, which are held and taken into account the next time Loss advices and collecting notes generated per Broker/Reinsurer
Reinstatement Premium Statistical Reallocation Other Features |
