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Mapping proportional reinsurance in ICIS
Project duration: 7 months
Brief description
This project enhances the functions of the existing ICIS inventory management system for insurance policies, adding automatic processing of proportional reinsurance transactions. It takes account of the functional aspects: PML, accumulation, facultative and obligatory reinsurance, and settlement with reinsurance partners.
Supplement
The ICIS system (Insurance Company Information System) is a software product used by multiple insurance companies, although it is adjusted significantly to the individual needs of each company. An Oracle database provides the data basis and Oracle Forms is used to implement the user interface. The functional logic is programmed, in part, in the Forms modules but it is also stored in the database in the form of functions and procedures.
Subject description
First, a function is implemented for entering and maintaining the probable maximum loss (PML) of a single contract, taking account of functional parameters such as insured risk, index-linked increases to the basic amount, or the liability limit. This forms the basis for automatic management of contract accumulations, which results in a cumulative PML as the total of all the PML values for all the contracts involved. A threshold logic is then used to calculate the reinsurance rates during contract processing in background processes. This takes into account framework agreements with reinsurance partners to map the mandatory surplus reinsurance, and it also enables optional application of individual reinsurance contracts. Finally, the reinsurance rates are used to calculate the share of each reinsurance partner in the posted contributions, payments for damages and premiums, which enables settlement of the reinsurance transaction with the companies involved.
IT project data
- Industries insurance
- Specialist tasks property insurance, reinsurance, underwriting method
- DP tasks customised software further development
- System environments Client/Server
- Procedure model customer standard
- Programming languages PL/SQL
- Databases Oracle Database
- Development and test tool Oracle Forms, SQL Navigator for Oracle, SQL Plus
- Operating systems Windows XP
- System software PVCS Version Manager (VM)
Project period01.10.2006 - 30.04.2007
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