ReWin acts as the central repository for recording and maintaining information about all the reinsurance facilities that have been acquired. Specific and extensible functionality is then provided to utilise information in the repository to perform administrative operations in an integrated and effective manner.
As the repository information is typically of interest to a wide range of people within client organisations, ReWin is a network application with multiple security levels that permit appropriate access. Comprehensive and automatic logging of user activity is optional.
ReWin also provides document management facilities so that any information held within the repository can be traced back to original documentation. This applies to both documents received or produced by the organisation. Documents can be scanned and their images stored within the repository for later reference. A wide variety of information is stored and recallable for each record, so that subsequent reference to the original documentation is seldom required. This applies to all types of information processed by ReWin including policies, claims and transactions.
Comprehensive information on each participating broker and reinsurer is maintained within ReWin, including placement and full trading history. The trading information is initially viewed as a summary for the broker or reinsurer of interest with quick and easy drill down to the original transactions.
Multiple credit ratings can be assigned, both from market authorities and security committee conclusions. Many reports utilise the recorded ratings, for example, exposure "by rating category” or “by reinsurer”. The effect of a change in the rating of a particular reinsurer is easily established and calculated across all reinsurance contracts. Multiple levels of placement such as pool arrangements are well catered for.
Whilst most reinsurance transactions are entered at broker level, the transaction’s impact on the underlying reinsurer level can always be viewed. The updated broker and reinsurer ledgers are easily reviewed, both on screen and in the form of ledger reports and statements.
Various control ledgers are also maintained, including open items and current reserves. The former enables detailed aged debt analysis and credit control functions to be performed, aided by a range of related reports. For instance, the debt collection performance of brokers for individual reinsurers is easily illustrated. The current reserves ledger facilitates rapid reassessment of potential liability in the light of foreign exchange fluctuations or the impact of awards and judgments.
