Genius for Reinsurance - Xuber Product Fact Sheet


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Genius – a comprehensive software solution for the Property & Casualty insurance market. Genius supports all major lines of business, including specialist and niche lines, handling multiple classes and complex policies. Across the world of insurance Genius is helping the most demanding organisations handle a wide range of domestic and international insurance programmes. With depth of functionality, stability, and continual enhancement, Genius provides a powerful platform for insurance processing.

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Genius for Reinsurance - Xuber Product Fact Sheet

  1. 1. Xuber Product Fact SheetGenius forReinsuranceThe software solutionfor end-to-end processingof assumed and directbusiness in the reinsurancemarket from Xuber.
  2. 2. 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.
  3. 3. Genius for Reinsurance is a comprehensive and integratedsoftware solution designed specifically for the reinsurancemarket, providing end-to-end administration for organisationswriting both assumed and direct business.A comprehensive solution Contract Administration AccountingGenius for Reinsurance offers comprehensive Genius for Reinsurance caters for all types Accounting provides a comprehensivefunctionality to meet the needs of any of assumed reinsurance including treaties cashbook capability, full accounts receivablereinsurance business delivering benefits at (QS, Surplus, Per Risk Excess, Cat Excess), and accounts payable processing. Geniusevery stage of the operating process: facultative and finite risks. Supporting full for Reinsurance allows direct cedent and/ contract lifecycle processing e.g. mid-term or broker billing, and supports accrual• Name and address administration adjustments, final premium adjustments, renewals, based accounting e.g. estimate premium• Searches and online enquiries cancellations etc., the solution enables the processing and adjustable features estimates.• Workflow administration of reinsurance programs including Both Bordereau and Deposit business is• ubmission clearance, registration S the ability to create, bind and renew layers supported and includes establishing estimated and management managed within a master program contract. transactions, specialized earning patterns, and adjustments (mid-term and final). Statement• Quote administration Specific functionality is also provided to generation and reporting of key accounting• Contract administration support the processing of adjustable features information such as aged debt, cashbook and such as, Profit Commissions, No Claims Bonus,• Claims administration ledger lists is fully supported. Sliding Scale, Retro Rated Premium, Additional• Retro-ceded reinsurance Premiums, Reinstatement Premium, Loss Management Information• Accounting Corridors and AAD/Loss Caps. When coordinating the business and making• Regulatory reporting Calculations such as earned premium (based strategic decisions regarding future activities• anagement information and M on custom actuarial patterns), brokerage it is vital that accurate information is available data warehousing commissions and ceding commissions can promptly. Genius provides flexible and be automated for efficiency and improved comprehensive management, operational and• ntegration with document production utilities I data integrity. ad-hoc reporting utilities. Genius for Reinsurance• Integration with 3rd party applications incorporates reinsurance based calculations Claims Administration to support specific business functions such asWorkflow and Task Management earning analysis and triangulations. Supporting full claim lifecycle processingWork Queues for underwriting, claims and (from opening a claim to closure), Claimsfinance facilitate workflow and surface key Administration supports all claim types includingtasks such as peer reviews, modeling, legal bulk claims, per risk, program and memo. Thereviews, firm orders, binding, claims reviews, work queue provides notification of limit referralspayment approvals, estimate processing, and payment approvals triggered via configurablepremium processing and final payment security checks and authorisation limits toauthorisations. Genius diary capabilities support the monitoring of both reservesenable the configuration of appropriate alerts and payments.and reminders ensuring that the full lifecyclecan be managed. Coverage verification utilities e.g. per risk and facultative types take full advantage of theSubmission Registration and Quote end-to-end functionality with the ability to referManagement to information captured earlier in the contract lifecycle. A sophisticated FGU calculationGenius for Reinsurance supports full risk ensures accurate apportioning of indemnitylifecycle processing including submission, reserves and payments across claim layers.quote, bind and renewal. Submission functionalityincludes the ability to accept and registersubmissions. Quotes can be issued basedon submission data removing the need tore-key information.
  4. 4. We provide solutions for: Insurers Reinsurers Brokers MGAs Xuber for Insurers Xuber for Reinsurers Xuber for Brokers Xuber for MGAs Iris Iris Brokasure Desktop Genius Genius for Reinsurance Brokasure Enterprise Elgar ElgarFor further information on our productsand services, please contact CustomerSolutions on +44 (0)20 3604 3333 or©Xchanging 2012 Xuber UK Xuber USA Xuber India Xuber Malaysia Headquarters 200 W. Adams, Suite 1175, 271 Udyog Vihar, Phase-II, Unit 2B-2-1, Plaza Sentral, 34 Leadenhall Street, Chicago, IL 60606, USA Gurgaon-122016, India Jalan Stesen Sentral, KL Sentral, London, EC3A 1AX, UK +1 877 288-3333 +91 (0)78382 43333 50470 Kuala Lumpur, Malaysia +44 (0)20 3604 3333 +91 (0)78382 43333