TAI has developed a Recapture App which provides a more flexible option for recapturing business from reinsurers or retrocessionaires. The App is incorporated into version 3.6 of TAI .NET. Clients have the option of using the Recapture App or using the traditional custom programming solution for recaptures.
Across the industry, insurance professionals are looking for new ways to innovate their processes, services, and solutions for better management and business outcomes. Agile project management/methodology can be used to generate new ideas, elevate productivity, and accelerate product innovation.
The treaty is a key source of data in reinsurance. It is the formal contract that binds the ceding company with the reinsurer and lays out the terms of the agreement. Therefore it is referenced whenever there are questions about how reinsurance should be administered. However, treaties are often extremely long and contain a lot of standard legal information to sort through. This makes it challenging to zero in on specific information when you need to review treaties to answer key business questions. When do these treaty reviews happen?