Prevail Reinsurance System (PRS)

A Complete Reinsurance Management Solution for Ceded and Assumed Business

The Prevail Reinsurance System Advantage

  • Asset Protection
  • Operating Cost Reduction
  • Audit of All Financial Transactions

How will these advantages and benefits be recognized:

  • Increased Recoverables Control and Collection - automated and accurate calculation of ceded losses
  • Enhanced Reinsurance Program Management and Design - provides management with current financial, analytical, and operational information to monitor program effectiveness and enhance underwriting policies and decision-making
  • Fast and Cost-effective Implementation of New treaties and Revisions - meets industry standard requirements for all treaty types and accounting methods "out-of-the-box" with user-defined tables
  • Low Total Cost of Ownership (TCO)

  • Single System to support Ceded, Assumed and Retroceded Reinsurance
  • Tracking of all Financials to Policy, Claim and Detail Attachment Level - assists with compliance of Sarbanes-Oxley

Summary of Features and Functions

  • Ceded, Assumed and Retroceded Business
  • Automatic attachment and calculation of ceded premiums and losses
  • Multi-currency-based system driven by currency conversion
  • Comprehensive business partner administration, supporting multiple locations and contracts (cedents, reinsurers, brokers, MGA's, insurers, retrocessionaires, underwriting agencies, and more
  • Support of multiple statutory companies
  • Management of reinsurance pool, including automatic cession to pool participants
  • Importing of external premium and loss data through staging, formatting and validation
  • Statutory and management reports such as statement of account, loss notice, bordereau, underwriting and financial analysis
  • System functionality tailored by custom values and rules in reference tables
  • Dynamic definition of business segments for profit center reporting and analysis
  • Security at User, Group and Functional levels
  • Detailed storage and viewing of all transactional data