Product/Service

FREEDOM Reinsurance

Source: Fiserv
The FREEDOM Reinsurance System is a comprehensive and cost-effective solution that fully automates the administration of ceded business for property and casualty insurers.
Reinsurance rates were hardening even before the events of September 11, and now the ability to manage your reinsurance program is more critical than ever.

With the potential volume of losses, companies may need to aggregate them in order to effectively calculate reinsurance recoveries. Handling aggregation manually could become overwhelming to staff and lead to errors and miscalculation of the recovery. The FREEDOM Reinsurance system automates this process in a way that improves accuracy and ensures that nothing falls through the cracks.

Now more than ever, it's important to know exactly where your recoverables lie. FREEDOM Reinsurance enables you to determine a balance due from each individual reinsurer. You may want to be particularly vigilant about balances owed by reinsurers that are heavily at risk and subject to liquidation. FREEDOM Reinsurance also stores information to help you track financial stability of your reinsurance partners so you can be more selective about where you cede.

FREEDOM Reinsurance is a comprehensive solution that calculates and allocates cessions automatically to the appropriate reinsurer or broker based on your business objectives. Every claim and policy passing through your administration system is reviewed against your reinsurance program. It also provides a full spectrum of cash management functionality from billing recoverables, to cash receipts management, to premium disbursements. The system's database retains the financial information you need to monitor contract profitability and support detailed analysis of your program's performance.

Our world is changing, and the reinsurance industry will change with it. Isn't it time to take tighter control over your ceded business? Call 800-FREEDOM (800-373-3366) or e-mail sales@freedom.fiserv.com for pricing and product information.

FREEDOM Reinsurance recently achieved IBM ServerProven® validation. Although Reinsurance is not limited to IBM servers, this designation assures IBM customers that the system will run smoothly, quickly and reliably with their equipment.