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The RSG Ceded System, designed for the primary insurer, is a comprehensive reinsurance system which allocates premium and losses to multiple layers of treaty and/or facultative contracts. The system provides for automated treaty and facultative reinsurance cessions along with all Statutory reporting requirements.
The system is offered at a low cost, and is easy to maintain and modify, well-documented, able to run on multiple platforms and, unlike our competitors, the source code is provided with the license.
Features of the RSG Ceded System include:
Ceded Contract Management
Manages ceded treaty and facultative contracts and their participants including pools. Allows setting up of programs with multiple layers and automatic attachment to primary policies based on user-defined criteria.
Automatic calculation of premium and loss cessions to the contract, broker, and participant levels. Calculates cessions to proportional and excess layers on a per risk and per occurrence basis. It also aggregates claims for catastrophe and aggregate stop loss contracts.
Notice of Loss and Billing
Claims are ceded on a per layer basis allowing for notification of loss and loss payments. You can also track status requests from the broker and/or individual participant. Automatic generation of accounts and individual loss billings/notifications by treaty and claim.
Tracking of cash receipts and disbursements. Complete open items management and easy to use cash application. The system also has an LOC management module.
Complete Statutory reports and downloads, management reporting, and online experience reporting.