msg globals

P&C Reinsurance with SAP FS-RI

Our SAP FS-RI software package for both professional reinsurers and primary insurers is the de facto industry standard application in managing reinsurance processes, and leads the market with more than thirty successful implementations around the world. SAP FS-RI covers every reinsurance process and fully integrates into the SAP for Insurance landscape, from policy management system (SAP FS-PM) to General Ledger via FS-CD or SAP BI modules.

We at msg global are leveraging at an international level the knowledge from the msg group that has been developing the FS-RI product for SAP. We have more than a hundred specialists at our development centre in Passau (Germany) dedicated to product development and maintenance.

FS-RI covers every process related to reinsurance, both from the cedent and reinsurer perspective.

The Treaty Module can accurately distribute single risks between retention and the various reinsurance treaties on either a proportional (quota-share or surplus reinsurance) or a non-proportional basis. Complex protection programs that combine different kinds of protections are easily supported. Minimum and deposit premiums can be posted automatically at their respective due date and volume adjustments, even taking into account burning cost ratios, for prompt calculation and posting. Reinstatement premiums are calculated automatically based on paid and/or reserved claims, supporting cedents in automatically creating reinstatement premium provisions at closing.

The Loss Module splits single or event losses between priority and the different excess of loss layers of a non-proportional reinsurance program. The module supports AADs as well as AALs, respects differentiated structures by currency, class of business and area, and recognizes allocation principles such as occurrence year, accounting year, underwriting year and claims made. Single losses can easily be allocated to certain loss events as based on criteria such as area or date of loss and other predefined parameters, or vice versa by searching for single losses eligible for certain loss events.

The Accounting Module covers the whole range of accounting tasks including, but not limited to, automatic calculation of commissions, brokerages, unearned premiums or outstanding loss reserves, according to the terms of the relevant reinsurance treaties.

Even profit commissions and no-claims bonuses are calculated automatically.

In the event that both cedent and reinsurer share a single FS-RI installation – as is common within insurance groups – reinsurance accounts can be created and passed from cedent to reinsurer, and even to retrocessionaire.

Integrated Prognosis & Estimation tools effectively support fast closing activities and closing based on estimation, including the corresponding true-up processes.

Built-in reporting functionalities provide highly flexible reports from financial or accounting year closing and statistics by cedent, treaty or group thereof to triangulations by underwriting or occurrence years, including multi-currency and multi-GAAP functionalities.