This document provides information about Swiss Reinsurance Company Ltd.'s Client Administration Review (CAR) service. CAR involves Swiss Re using its computer applications to analyze a client's reinsurance data and collaborating with the client to understand their processes. Swiss Re then provides confidential written advice and discussion of the client's systems. The goal is for Swiss Re to help clients optimize their reinsurance administration and benefits through improving processes, controls, data quality, and transparency. The service is complimentary for clients and aims to strengthen cooperation between the client and Swiss Re.
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1. Client Administration Review
Client Administration Review
Swiss Reinsurance Company Ltd.
61st
Floor, Central Plaza
18 Harbour Road, Wanchai
Hong Kong
Telephone: +852 2582 3600
Contact: Daniel Aregger
Email: Daniel_Aregger@swissre.com
Contact: Franco Foschi
Email: Franco_Foschi@swissre.com
Telephone: +852 2582 3922
Contact: Arthur Hong
Email: Arthur_Hong@swissre.com
Telephone: +852 2582 3907
Swiss Re uses its proprietary computer applications
to perform a detailed data analysis of the subject
portfolio, with reinsurance data provided by the client.
Using the results of its analysis, Swiss Re collaborates
with the client to gain the company’s perspective on
its processes and systems. Swiss Re then employs
examples from the client’s own portfolio to assess the
efficiency and effectiveness.
Swiss Re provides the client with confidential and
discreet advice, in the form of a written report and
detailed discussion of the company's processes and
controls.
Swiss Re provides support at the client's request and
assists with the implementation of any necessary
measures.
Your winning solution
Client Administration Review
Pre-work
Follow-up
On-site
Deliverables
Process
2. Client Administration Review (CAR)
Maximise your reinsurance administration benefits
With over150 years of risk experience, we at Swiss Re have
built a deep relationship with our clients. Over the years, we
strive to understand your needs, help you transfer your risks
and provide solutions.
In 2008 we launched the Client Administration Review (CAR)
in Asia, a service that has been well received by over 150
insurance companies in the Asia-Pacific region. So what's
special about CAR? Dedication: our team of 20 specialists –
with up to 28 years of experience in both life and non-life
insurance – is committed to serving clients globally.
And what about the most discreet of advice and assistance?
Our complimentary service helps our clients to optimise their
reinsurance administration benefits. They will receive an
unbiased, confidential review of their overall system, giving
them confidence in their data management for future needs.
Our scope
What are the values of CAR?
Access to the best reinsurance practices
Confidence that policies underlying reinsurance treaties
are truly covered
Comprehensive quality control and improved data
system
Elimination of historic, existing and potential cession
discrepancies
Strengthening of cooperation at all levels and enhanced
links to administrative teams
Increased transparency of the reinsurance process
When is CAR beneficial to a company?
When reinsurance treaty provisions change.
When a company performs reinsurance calculations
manually (processing in MS Excel, for example).
When a company is considering or has undertaken a
system migration or introduced changes in its processes.
When a company uses manual interfaces between its
direct insurance and reinsurance systems.
At the start of a new contract or relationship, when a
company needs to confirm a common understanding of
data requirements.
Examples of typical conclusions:
Policies are ceded above the agreed reinsurance treaty
limit, so that too much premium is ceded to reinsurers.
What we did: Process improvement and returned
premium to client
Premiums are ceded on policies falling outside the
reinsurance conditions.
What we did: Returned premium to client
Inconsistent financial processing leads to situations
where claims may not be recoverable.
What we did: Processed claims without procedural delay
Deductibles and retentions are not applied correctly, so
that the proportion of the policies ceded is either too high
or too low
What we did: Returned premium to client
Loss reserves are not adjusted following loss payments,
impairing the technical result and affecting renewal
pricing.
What we did: Made sure that financial results reflect
insurance results
How much does this service cost?
There is no cost for our special service. However, we do require
adequate input and time from the relevant people in charge of
your company’s re/insurance system. They are the ones who
have to provide the Swiss Re team with access to the relevant
data.
Will there be a lot of efforts involved?
Yes, but not from the client side. Swiss Re will do all the
analysis and pre-work with inputs from clients through some
short interviews.
"We find your report very useful with in-depth and
meaningful measures to improve our reinsurance
process. Thank you very much for your hard work." --
C.H.Kim, Manager, Underwriting Support
Department, NongHyup Property & Casualty
Insurance Co., Ltd.
"I like to thank Swiss Re for the visit and the insights
given to further improve our work processes. I also
like to express my appreciation for your
professionalism and assistance to Manulife." --
Joyce Chan, Sr Director, Reinsurance Section,
Manulife Hong Kong.
Client Administration Review Client Administration Review Client Administration Review