Primary & Reinsurance computer Systems
Dnpowell71@aol.com
Mon, 18 Jan 1999 23:33:03 EST
Hello,
My company (which shall remain nameless!) is contemplating the purchase of a
new computer system. We sell a lot of primary (ISO lines & WC), but also
excess and reinsurance-like products too. And actual reinsurance too, I
think. It's not a Y2K thing, we just need a better system for extracting
*usable* data for stat reporting, compliance, and internal reporting. We are
looking for an "off the shelf" system.
Hmmm, not much of a question yet. Is anyone aware of a System that can handle
all the different contracts (primary, excess, reinsurance) and lines (ISO
lines, WC, even some A& H)? Some of the excess & reinsurance-like
contracts/arrangements can get pretty complicated!
It seems to me we need two separate systems and then we drop some databases
into oracle or access and query that. We can rely on a few system reports to
provide numbers to tie back to. Or some third party program can link the two
and produce combined electronic and printed reports.
Some people are really pushing for a combined system that does it all,
registration, accounting, issuance, compliance reports, stat reporting etc.
Even if some of the business has to be shoehorned in.
Please share your experiences selecting and installing a new system, and also
and tips or lessons learned. Actual recommendations are welcome too.
Wish us luck too, because this is going to be like heart surgery, and nobody
has their finger on the pulse of an insurance company like the actuaries do!
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