PRORIS – the professional reinsurance information system
Risk management is an integral part of controlling. The right decisions can only be made based on a reliable data basis from which all important information for your decision can be obtained in an easy and comprehensible manner.
PRORIS, the professional reinsurance information system for assumed and ceded
reinsurance used by the insurance company, the professional reinsurer,
the reinsurance captive, captive management company or reinsurance broker
is well established throughout Europe and provides you with this basis.
1. The company Inveos PRORIS – Professional Reinsurance Information System operational since 1992
2. The Company Inveos PRORIS Overview The Reinsurance Cockpit Estimation and Prognosis Module Content 30 March 2011 Slide 2 PRORIS Management Overview PRORIS – Reinsurance Information system
3. founded in 1979 as Hanse Orga GmbH Amended to CTH Consult TEAM Hamburg 1990 Amended to Inveos in 2000 Revenues: 2008 : > 6,3 m €, 2009: > 4,0 m €, 2010: > 4,0 m € main focus in branches Reinsurance & Leasing 31 employees (plus free lancers depending on the order situation) Reinsurance-/ leasing-experts IT-experts with established vertical knowledge Several partnerships concerning reinsurance matters (PRS, Consurance, bit, Netsure,….) International project management for reinsurance and insurance companies The company Inveos 30 March 2011 Slide 3 PRORIS Management Overview PRORIS – Reinsurance Information system
23. 30 March 2011 Slide 7 PRORIS Management Overview PRORIS – Reinsurance Information system PRORIS components PRORIS Overview – embedded in the RI landscape Third party (systems) PRORIS component / externalsystem Reinsurer / Retrocessionaire / Broker Data Warehouse / BI-System standard (customizable) interfaceforplanning andanalysissystems interface (customizable) reinsurer / retrocessionaire / broker Automatic Interface electronic data exchange interface /accounting documents PRORIS RI-System GL Current Account RI administrationsystemwith automaticinterfacesto GL and currentaccount Automatic Automatic RI-Server / dataexchange interface / manualinterfacefortreaty / loss / accountingdata Automatic / Manual Direct Insurance System(s) Cedent / Broker Direct insurance business - Policy / Loss administration Assumed RI business
24. PRORIS Overview – Basis system and components 30 March 2011 Slide 8 PRORIS Management Overview PRORIS – Reinsurance Information system
25. PRORIS Overview – Base system and components 30 March 2011 Slide 9 PRORIS Management Overview PRORIS – Reinsurance Information system General Functionality Partner Administration Contract Administration PRORIS Loss Administration Facultative Business RI-Account Account Assumed Business Statistics / Reports Data Exchange System administration Customizing Interfaces Report Generator / Data Warehouse Basic applications Supporting functions
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27. Full data transparency and security thanks to the availability of all data and figures of the whole company, the history etc. at any time
28. Fully automatic direct insurance interface for all relevant reinsurance transactions of portfolio/claims handling and accounting
29. Automatic support for Fast Close/Hard Close on the basis of international accounting standards (IFRS, IAS and US-GAAP)
32. Integrated analysis system with all known types of reinsurance statistics such as calendar year, occurrence year, run-off statistics and a run-off triangle according to various selection criteria
41. Interfaces to GL / current account, financial accounting and to the MS-products are available
42. PRORIS communicates: in direct insurance to find reinsurance, with financial accounting to transfer the data accounted in PRORIS, with reinsurance partners, the cedents, reinsurers or reinsurance brokers – in both directions
45. Inveos has developed a reinsurance cockpit prototype using the BI system Qlikview ® and will continue expanding the functionality of the reinsurance cockpit Headlines easy to use and easy to learn googlelike search functionality information always available: on iPhone, Ipad, Android, Blackberry comprehensive security concept simple application system: comprehensive dashboards for measurement, supervision and provision Reinsurance Cockpit (new established) 30 March 2011 Slide 15 PRORIS Management Overview PRORIS – Reinsurance Information system
46. Reinsurance Cockpit - screenshots 30 March 2011 Slide 16 PRORIS Management Overview PRORIS – Reinsurance Information system
48. Overview Estimation and prognosis Module 30 March 2011 Slide 18 PRORIS Management Overview PRORIS – Reinsurance Information system postingsofclosedbalanceyearsandcurentpostings calculatedestimations /prognosisforthefollowingyear Initializeestimationphase manualediting -work on thedataoftheestimationyear on thedetaillevel – work on datafortheprognosis on portfoliosegmentlevel estimationsofthepreviousbalanceyear delta-postings delta = estimation – actualgeneratedeltapostingsfortheestimationyearr
