Ceded Property/Casualty Reinsurance Solution Spectrum

by Donald Light, November 15, 2010

Abstract

There is considerable diversity among the ceded reinsurance solutions offered to primary insurers today. Celent describes how primary insurers should be seeking the best fit.

There is increasing interest among primary insurers in reinsurance solutions that provide recordkeeping and execution capabilities to make reinsurance programs provide the value they were designed to provide. In a new report, Ceded Property/Casualty Reinsurance Solution Spectrum, Celent profiles 10 ceded reinsurance solutions from nine vendors. The report looks at the solutions’ functionality, technology, customer base, and geographic footprint.

A ceded reinsurance system has six core elements: contract administration, underwriting support, a premiums and commissions calculation engine, a claims calculation engine, technical accounting functionality, and financial accounting functionality.

“An insurer looking for a ceded reinsurance solution, needs to understand its own business drivers as well as how prospective vendors’ technology responds to those drivers,” says Donald Light, Senior Analyst with Celent’s Insurance Group and author of the report.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

3

Introduction

4

Definitions and Elements of a Ceded Reinsurance Solution

5

Report Methodology

8

An Overview of the Solution Spectrum

10

CSC SICS

14

Delphi Technology OASIS Reinsurance

16

Effisoft WebXL

18

Prevail Reinsurance System

20

SAP Reinsurance Management

21

Sapiens INSIGHT for Reinsurance

23

StoneRiver Freedom Reinsurance System

25

StoneRiver Universal Reinsurance System

27

SunGard ProCede

29

TCS BANCS Ceded Reinsurance System

31

Conclusions

33

Leveraging Celent’s Expertise

34

Related Celent Research

35

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