Duck Creek Reinsurance

Centralize, streamline and automate all your reinsurance processes.

Reinsurance Management

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Reinsurance Management Made Smart

Duck Creek Reinsurance tracks all information related to your reinsurance contracts (treaties and facultative policies, claims, incidents, accounting data, technical data, auxiliary data, financial data, and more). Manage all your contracts from underwriting to endorsements and renewals in a flexible solution using multiple currencies and GAAP requirements.

Benefits

Maximize Recoverables and Reduce Claims Leakage

Identify all claims meant to be covered by reinsurance by accurately calculating recoveries, and rapidly creating reinsurance bills. Ensure all reinsurance ceded or assumed achieves its intended goals of helping reinsurers and brokers manage risks and making available the capital needed to support those risks.

Improve Process for Contract Certainty

Digitally transforming reinsurance administration creates opportunities to strategically leverage data in ways that were previously extremely difficult. With the ability to better understand reinsurance transactions and outcomes, finance and risk management teams can leverage data to make critical decisions regarding risk appetite and support reinsurance contract negotiations.

Increase Reinsurance Operational Efficiencies

Labor-intensive tools such as spreadsheets and unsophisticated databases, as well as legacy systems built on older platforms, are ill-equipped to manage today’s increasingly complex reinsurance treaties. Through automation, standardization, and data transparency, our platform helps you create a more efficient and productive reinsurance administration program.

A Trusted and Reliable Reinsurance Management System

Years of experience

20+

Countries processing reinsurance on the platform

60+

Data import templates available

5000

Person days per year invested in product development

Closing time reduction

Key Features

Contract and Partner Management

Claims

Accounting

Reporting

Manage and visualize agreements and relationships like never before

Centralize all your reinsurance policies in one place within the platform for greater visibility and security in your data processing

Manage all types of contracts, including treaties, facultative reinsurance, proportional and non-proportional contracts, excess loss, stop loss, quota share, and more

Support both P&C and general insurance, as well as life and health insurance

Easily navigate through contracts structure on a schematic view for quick information access (from program to account status through the layers)

Handle your contract renewals efficiently and save considerable time by copying an existing contract with its contractual terms from the previous year

Efficiently manage all claims and events in reinsurance

Easily view and update the status of your claims at any time

Centralize all of your claims with dates and events in a single platform

Attach all dates and times for multiple claims to a single event

Automatically determine and update the optimal period for an event’s retroceded amounts through an hours clause

Manage and link events and claims to multiple ceding companies

Automatically process all technical and financial accounting for reinsurance

Automate the production of your technical accounts for your partners—ceding companies, reinsurers, and brokers—at the frequency you want.

Robust and accurate calculation engine for premiums and claims, including expenses, commissions, rates, reinstatement premiums and more reinsurance terms

View a cumulative summary of all your reinsurance contracts

Support all account types, in acceptance and retrocession, including estimated accounts, final accounts, provisional premium accounts, and cash call accounts.

Confidently deliver results through turnkey and configurable reporting

Statistical Reports module provides access to all your accounting reports, from statement accounting to provisional acceptance and retrocession premiums and commissions

Dynamic Reports module lets you track balance sheet and income statement, along with more targeted analyses, such as yearly portfolio changes

Connect third-party tools, such as "Business Objects"

Slice and dice the data from various angles; view aggregated data or drill down for a more in-depth analysis

Output your data in a wide range of reporting formats that best fit your communication needs

Automate regulatory reporting including Schedule F Part III

Testimonials

Duck Creek Reinsurance offered an off-the-shelf host system that was configurable to meet the majority of our requirements. The team was willing to partner with us to meet several of our key requirements and Duck Creek Reinsurance offered an excellent user interface and experience.

Beazley chose Duck Creek Reinsurance, the cloud-based reinsurance platform for its strong out of the box functionalities. Duck Creek demonstrated reinsurance expertise and an ability to handle reinsurance platform deployment projects.

QBE chose Duck Creek to manage and centralize all the reinsurance processes. With Duck Creek Reinsurance, we have a platform that provides one ‘source of truth’ for reinsurance calculations throughout QBE for both ceded and assumed reinsurance. We also felt that Duck Creek were a good fit and that we would be able to work well with them.

Useful Resources

Blog Resources Events

Brochure

Duck Creek Reinsurance Management

January 17, 2023

Maximize recoverables, reduce claims leakage, and increase reinsurance operational efficiencies

Blog Post

Efficient Reinsurance Management: The Million Dollar Question

January 30, 2023

There are three reasons why reinsurance management should be a top priority...

Blog Post

Is Your Old Technology Driving Up Reinsurance Costs?

April 19, 2023

The cost of reinsurance contracts is increasing. Contributing macro factors include political...

See It In Action Today

Whether you’re launching a greenfield initiative, changing providers, or looking to make a digital transformation, our multi-faceted team of insurance and technology experts can help get you there.

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