Xuber Product Fact SheetBrokasureThe London market andinternational brokerapplication for insuranceand reinsurance from Xuber.
XuberFor forward thinking insurance professionalsXuber is the trusted provider of unique andinnovative software solutions that improveperformance and enable business growth.Xuber software solutions are built from over30 years of insurance industry knowledgeand a workforce of experienced insurance andsoftware professionals. We have successfullyimplemented solutions for over 130 customersfrom Lloyd’s and the London Market to Bermuda,the US and Asia Pacific regions.
Designed by insurance professionals within-depth market experience to meet theneeds of today’s insurance broker.Automating the Broking Lifecycle Claims Processing Accounts InformationBrokasure provides powerful and robust Claims features include claim transactions, Statements and Bordereaux can be producedautomation of the entire broking life cycle, separate fee elements, reinstatements and using flexible templates for documents withincluding seamless integration with other aggregate claims. Validation and processing, branding and content appropriate to thecore systems and the provision of electronic including full integration with ECF, ensures business. Pre-defined reports, such as trialaccounting and placing functionality. claims are made against the correct version balance, are provided with a variety of additionalBrokasure provides a scalable solution for of risk data. ‘extract tables’ for analysis and reporting e.g.your business from single office deployments brokerage, aged debt summary etc. Accountsthrough to multi-national companies. A comprehensive IBA ledger incorporates Multiple Legal Entities can be established key facilities aimed at ledger control and bad enabling brokers with a global presence toRisk Processing debt exposure: produce separate trial balances for eachBrokasure contains a comprehensive risk accounting region, which can be processeddetail capture facility, from quote through to • ccurate client and market structures A into the central ledger.firm order, enabling the simplest to the most recordingcomplex of risks to be recorded. • Pay-as-paid facilities Business AssociatesThe risk acts as the driver for all transaction • ultiple legal entities, each with multiple M The Business Associates component enablesprocessing, accounting and statistical reporting banking currencies the recording of contact details, organisationsand has full support for the following features: • utomatic re-rating of convertible currency A or people, including statement requirements transactions upon settlement and addresses. It also provides facilities• Multi-sections to maintain application security as well as• Multi-currencies • owerful automatic account correlation P reference data such as exchange rates and facilities• Flexible deductions system codes or parameters. • SWIFT and cheque production interfaces• Comprehensive treaty processing • lectronic authorisation and management E Management Information• Broker and agent binders of payments to clients and underwriters Brokasure provides a set of standard• Complete process tracking Brokasure provides fully integrated support reports. The statistics data warehouse allowsSearch facilities throughout Brokasure allow the for ePlacing, eEndorsement and eAccounts, information to be extracted from the centralrapid retrieval of data. An integrated tracking enabling the electronic placement of risks and database for comprehensive managementand workflow system allows user defined endorsements, and submission of Technical reporting, without reducing the productionevents to be captured and subsequent actions and Financial accounts. database performance. Brokasure producesto be diarised while a complete on-line audit parameter driven management informationtrail records key processes. Ledger Maintenance using third party reporting tools so that users can perform simple ad-hoc enquiriesAll market documentation is supported Comprehensive facilities enable partial and searches.including Market Reform Contracts and payments, direct settlements, mixed currencyschedules, all held in a variety of formats. payments and receipts. Authority limits and Through our partnership with LogiXML, approval structures are a core part of the Brokasure can provide powerful, flexible andWeb Services allow third party systems to comprehensive management, operation and solution, ensuring business processes areseamlessly and securely integrate with Brokasure KPI reporting via configurable dashboards. supported and enforced.to reduce data capture and improve efficiency. These behaviours, allied with pay-as-paid Broking User Group (BUG)Insurance Transactions facilities, provide tight cost control and audit history. Integration with external payment To ensure that Brokasure meets our customer’sTransaction entry options allow multiple future requirements, the Brokasure teamsections, instalments, currencies, deductions systems for electronic payment and cheque printing minimise risk and provide a fully collaborates with market bodies as well asand participant processing with automatic the Broking User Group (BUG) to continuallycalculation of effective dates and amounts. audited payment process from initial request to final payment. enhance the product. Users can be confidentTransaction processing facilities include that their solution is fully supported and thatdocument only entries for settlement future requirements will be accommodated.agreement and brokerage only transactions. In liaison with BUG, Xuber gives priority to market and regulatory initiatives to ensure that Brokasure supports business needs.