Run-off Plus

RunOff Plus is a complete package designed in partnership with leading Insurance companies. It provides an automated and cost effective approach for run-off administration.

The system is constructed from a library of specialist modules which enable delivery of a tailored solution at a package price, once your requirements have been analysed.
The outward recovery module is designed to aggregate inward losses and process through a company's outwards excess of loss programmes to generate recoverable losses and reserves.

RunOff Plus will dramatically reduce the cost of run-off administration.

Key Features:

• Policy management system, policy details, full policy history including drill down to all transaction levels.
• Claims system, claim payments, reserves and reinsurance recoveries, portfolio linked to a comprehensive policy management system.
• Reinsurance system covering facultative, proportional and non-proportional treaties and excess of loss recovery.
• Premium handling, including reinstatement premium, excess of loss adjustments.
• Insurance accounting module, multi-currency, including ILU, Lirma and non-bureau processing for current accounts, reserve ledgers and deferred ledgers for both underwriting and reinsurance.
• Bordereau reporting and accounting for pooled/binding authority business and line slip.
• Transaction and ledger, splitting to individual company/reinsurer level to cater for company commuting and offsetting.
• Reinsure security controls including flagging of companies in liquidation or receivership with automatic splitting of transactions per insurer between live and liquidated items.
• Agency subsystem providing statistics and accounting at gross and down to principal company level where business has been written on an agency basis for more than one insurance company.
• Take-on data module, a suite of programs written to facilitate the conversion of data from the legacy system to RunOff Plus. The system provides full audit trails and reports.
• Comprehensive Reporting Module with Ad-hoc Reporting tools.
• General Ledger to record all accounting transactions and controls.
• Cash and Banking Module.