Run-Off Plus
RunOff Plus is a complete package designed in partnership with leading Insurance companies. It provides an automated and cost effective approach for run-off administration.
English
Supported Technologies
AIX,
SCO UNIX/PC UNIX,
Windows 95/98/ME,
Windows XP/2000/NT
Software, Web-Based (Browser)
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Pricing
Users (# of seats)
sales@citycomputers.co.uk
020 7231 5555
Additional Product Information
The outward recovery module is designed to aggregate inward losses and process through a company's outwards excess of loss programmes to generate recoverable progress and reserves., RunOff Plus will dramatically reduce the cost of run-off administration., Key Features, Policy management system, policy details, full policy history inclusive of all transactions. Drill down facility available., Claims system, claim payments, reserves and reinsurance recoveries, portfolio linked to a comprehensive policy management system., Reinsurance system covering facultative, proportional and non-proportional treaties., Premium handling, including reinstatement premium, excess of loss adjustments., Insurance accounting module multi-currency, including ILU, Lirma and non-bureau processing for current accounts, reserve ledgers and deferred ledgers for both underwriting and reinsurance., Bordereau reporting and accounting for pooled/binding authority business and line slip., Transaction and ledger splitting to individual company/reinsurer level to cater for company commuting and offsetting., Reinsure security controls including flagging of companies in liquidation or receivership with automatic splitting of transactions per insurer between live and liquidated items., Agency subsystem providing statistics and accounting at gross and down to principal company level where business has been written on an agency basis for more than one insurance company., Take-on data module, a suite of programs written to facilitate the conversion of data from the legacy system to RunOff Plus. The system provides full audit trails and reports., Modules, Policy Manager, RunOff Plus provides Underwriters and Claims personnel with a complete breakdown of all activities carried out on a policy over its entire period of cover by policy and year., Total premiums and total claims (paid and reserves) to date can be viewed as a whole or individually. Drill down to individual premiums and claim transactions., Reinsurance, RunOff Plus provides for full reinsurance sevicing at individual risk level, for Facultative, Surplus Treaty, proportional and non-proportional covers., Surplus Treaties are automatically calculated from previously entered table files with an option for the Underwriter to overrule the computer calculation. The system also caters for Excess of Loss protection. Reinsurance can be arranged at policy level, individually or at risk location level. RunOff Plus will automatically calculate the relevant premiums and mid-term alterations, as well as claim recoveries., All relevant ledgers, statistics and Regulatory Body files are automatically updated at every level., Claims, The claims module is totally integrated within RunOff Plus to service all activities from first claims advice through to amendments, settlements and adjusting reserves., Standard memos and letters plus integral message and diary systems can be activated at the point of input. On completion of the data entry, all relevant files such as Statistics, Revenue and Regulatory Bodies are automatically updated., Claims histories and an audit trail are maintained and can be viewed on-line. Policy enquiries from within the claims system automatically display the policy status as a date of loss, with the ability to display as at any other date. Full statistical and monitoring reports are produced, both on-line and on a periodic basis., Accounting, RunOff Plus incorporates full accounting and financial modules., Transactions are posted automatically from the policy records to accounts and Broker ledgers. The system also provides advanced on-line reconciliation facilities, with ledger statements produced on a periodic basis and on request., A full history enquiry is available on any paid items for the accounts personnel to view past reconciliations and eliminate the need to retain hard copies. Full audit trail and on-line enquiries are provided at every level of the system., The cash module allows input and automatic posting to ledgers and bank accounts with an on-line, real time bank balance enquiry., Reports, On-line enquiry and reporting facilities are integrated at every level of the system., Batch reporting is available and reports are produced covering every aspect of the company's activities as well as its corporate rquirements. These reports can be produced on demand or on a set periodic basis., Catastrophe Recovery and Advice, This is a highly technical module and requires analysis of the company's current and post catastrophe programmes. The Outwards Recovery System is designed as a specialist Excess of Loss Catastrophe Recovery Module., Loss information details are extracted from a host underwriting system and processed through the company's outwards reinsurance program calculating recoverable payments and incurred figures., The system can be run monthly, quarterly or on an ad-hoc basis when increased claims activity has taken place on the host underwriting system. Reporting at summary and detail level is produced at each stage of the process., The main components of the module are:, Data Feed Interface, To extract loss information from the host underwriting/claim system and format the data ready for processing., Outwards Policy / Program Maintenance Screen, To allow users to enter policy and program information including policy types, periods of cover, limits and excesses, reinstatements and backup details., Recoverable Calculation Routine, This routine processes losses through the various recovery programs in date of loss order to calculate recoverable payments and incurred amounts. The system will handle most types of protection policy including General X/L's, Franchise, Backups, Specifics and Umbrella covers., Manual Recoverable Amendments, When the recoverable amounts have been calculated by the system it is sometimes necessary to adjust these figures to allow for special conditions within the terms of the protection policy. This is done through the "Manual Recoverable Amendment Screen"., Currency Reallocation, Change Analysis and Transaction Generation, Once the recoverable figures have been confirmed the system will reallocate the amounts over the original loss currencies and calculate the movement since the last collection. Exhausted layers can be flagged to prevent currency fluctuation only transactions., Transaction Processing and Loss Advice Production, Transactions can be processed on block, individually or by using pre-set minimums to prevent small collection amounts being generated. Unprocessed amounts are held and added to the movements generated by the next run of the system., Statistical Reallocation, If required, the system can reallocate recoverable amounts over the original losses to generate detailed underwriting and accounting statistics and post these figures back to the underwriting system.