msg globals

Life reinsurance with msg.LRM

msg.LRM (Life Reinsurance Module) is a SAP-based integrated system aimed at insurance and reinsurance companies; the package manages the technical core business processes in assumed and ceded life reinsurance, and supports the management of individual life policies, applications and underwriting assessments, claims and claim assessments as well as reinsurance/retrocession shares for assumed/ceded reinsurance business.

msg.LRM Functionalities

  • Administration of applications
  • Assessment of applications and claims
  • Administration of individual policies, schemes and joint life policies
  • Automatic and manual processing of individual life policies
  • Automatic determination of treaties
  • Automatic and facultative reinsurance/retrocession
  • Accumulation per life policy
  • Cedent plausibility checks including product-specific checks
  • Creation of accounting entries at individual policy level – period values
    and profit & loss values
  • Administration of claims

msg.LRM Benefits

  • Continuous workflow and data flow between SAP integrated module (treaty management, single-risk management, accounting and
    current account)
  • Maximum flexibility in using plans and calculation methods for individual life policy data via actuarial tool connection
  • Customer-specific process controlling and reinsurance order determination in the standard LRM module
  • Creation of accounts and reporting based on policy data
  • Data transparency in international groups through accumulation control
    across company codes such as headquarters and subsidiaries, and    automated data flow between company codes

msg.LRM is always used together with msg.PM