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Description
Duck Creek Reinsurance streamlines and automates the entire reinsurance process by consolidating information associated with contracts, which encompasses treaties, facultative policies, claims, incidents, as well as various financial and technical data. This adaptable solution oversees contracts throughout their lifecycle, including underwriting, endorsements, and renewals, and accommodates multiple currencies and GAAP standards. By efficiently calculating recoveries and swiftly generating reinsurance invoices, it ensures that all claims eligible for coverage are accurately identified, thus fulfilling the objectives of both ceded and assumed reinsurance in terms of risk management and capital optimization. The digital transformation of reinsurance administration empowers finance and risk management teams to utilize data more effectively, facilitating crucial decisions about risk tolerance and enhancing contract discussions. Moreover, the shift towards automation, standardization, and enhanced data transparency eliminates the reliance on cumbersome tools such as spreadsheets and outdated databases, ultimately improving operational efficiency. In effect, this comprehensive approach not only simplifies processes but also fosters a more strategic alignment between risk management and financial objectives.
Description
The Prevail Reinsurance System (PRS) serves as a thorough and automated solution for managing reinsurance effectively. With its powerful out-of-the-box features, PRS is easy to implement and can be readily adapted to accommodate shifts in business needs. The system boasts the most sophisticated cession calculation engine available, along with automated processes that enhance reinsurance management in the industry.
Designed to boost efficiency in handling reinsurance contracts, PRS simplifies the processing of premium and claim transactions, allowing users to effortlessly reconcile and track outstanding balances. Furthermore, it accelerates the reporting of data within your organization, ensuring that all reinsurance operations and information are securely housed in one accessible system for all users. This centralized approach not only enhances collaboration but also improves overall productivity across departments.
API Access
Has API
API Access
Has API
Integrations
Duck Creek Suite
FurtherAI
Pricing Details
No price information available.
Free Trial
Free Version
Pricing Details
No price information available.
Free Trial
Free Version
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Vendor Details
Company Name
Duck Creek
Founded
2000
Country
United States
Website
www.duckcreek.com/product/reinsurance/
Vendor Details
Company Name
Prevail Consulting, Inc.
Founded
2000
Country
United States
Website
www.prevailconsulting.com