Reinsurance


SAP FS-RI is an insurance solution that provides reinsurers, insurers, brokers and captive organizations with a fully integrated reinsurance process. The main components of FS-RI include:

  • Ability to process life and non-life insurance policies
  • Support for facultative, facultative obligatory, quota share, surplus and excess of loss contracts for products in non-life segment
  • Management of assumed or submitted reinsurance contracts including the calculation of retention
  • (Business) transaction processing on basis of underwriting, loss occurrence or calendar year
  • Automatic calculation of quota share commission, contingent and sliding scale commissions and retrospectively rated premium adjustments that can be calculated for a single period
  • Automated processing of single or catastrophic damage events with the ability to handle the claims costs on an individual or contractual basis
  • Automated processing of fund balance requirements
  • Automated inbound and outbound portfolio transfers
  • Automatic calculation of premium and accrual estimates, which include UEPR, late travelling premium and IBNR (Incurred But Not Reported) amounts
  • Calculation of net due date for open receivables and payables based on customizable rules
  • Calculation of intercompany reinsurance cessions based on customizable rules for calculation
  • Role-based access to all areas of the user interface to protect insurance, claims and accounting data
  • Direct interface to SAP FS-CD for the processing of cash-relevant [receivables and payables] and non-cash relevant [UEPR, loss reserves, IBNR, premium estimates] amounts
  • Interface to SAP FI-GL via FS-CD for the processing of all accounting data.
  • Support for multiple currencies
  • Ability to handle multiple GAAP accounts
  • External interfaces to an accounting system, if FI-GL is not implemented, and a billing system if FS-CD is not implemented
  • Ability to extend the standard solution with custom fields and screens using SAP’s Business Data Toolset (BDT)