Reinsurance management solutions

Solution Sheet

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Transform your reinsurance business

Reinsurers face pressure from market forces on many fronts: an influx of capital and new competitors, new and emerging risk types, increasing regulation, and increasing merger and acquisition activity that is consolidating significant market players, and more.

Insurers are equally under pressure to improve ceded reinsurance administration across portfolios to better manage operational costs, ensure accurate recoveries and gain improved value by providing better information to reinsurers.

Such pressures represent a real business challenge, but can also provide an impetus for positive change. Technology transformation, in particular, can enable companies to better understand their risk exposures, more efficiently manage their aggregations, improve recoveries and more effectively distribute their products. Such transformation can also help reinsurers create new products, find new customers and better manage their businesses. Use of improved technology also enables reinsurers and insurers to reduce frictional costs across the whole reinsurance value chain and improve business relationships.

Technology solutions to suit your needs: Configurable, flexible, strategic

As you would expect from the leading provider of core systems to the reinsurance industry, DXC Technology has deep expertise in reinsurance across both life insurance and general insurance/property and casualty (P&C) insurance.

Our reinsurance solutions provide highly configurable and flexible capabilities throughout the reinsurance life cycle, from insurers managing their outward programs to reinsurers managing both inward business and retrocessions. All reinsurance processes, whether for insurers or reinsurers, are supported by DXC solutions, which can handle all types of reinsurance treaty business, including quota share, surplus, excess of loss and facultative treaties.

Our reinsurance platforms, deployed on premises or in the cloud, offer market-leading, dedicated, end-to-end reinsurance management capabilities that meet the needs of all players, whatever their reinsurance administration requirements.

SICS for automation

SICS is a leading end-to-end software platform, meeting the administration needs of both reinsurers and insurers. DXC’s SICS supports all lines of business, whether P&C or life, and does so for both assumed and ceded reinsurance administration. The platform provides comprehensive automation across the complete reinsurance management life cycle, for insurer cession management and for a reinsurer’s assumed business and retrocessions.

SICS supports all aspects of a reinsurer’s processing needs, from acquiring new business, through renewals management and accounting, to retrocession. Insurers’ outward cession administration is equally supported, and claims processing and recoveries capabilities meet the needs of insurers and reinsurers across the entire reinsurance value chain.

Benefits of adopting DXC reinsurance solutions

• Full life-cycle coverage. DXC solutions address the complete life cycle of reinsurance administration for all major contract and treaty types, whether inward or outward, newbusiness or renewals, contracts, claims or accounting.

• Improved agility and operational efficiency. Deliveroperating efficiencies through automation and straight-through processing and enable flexibility to adapt as the business environment evolves.

• Superb business process control. Deliver structured andstandardized business processesacross the organization.

• Security and control. Providestrong user access control, role authorization and activity tracking to protect client and business data, and to enforce compliance with internal procedures and approvals.

• Powerful analytics providing key business data. Day-to-day users, operational managers, senior executives andcompliance staff all benefit from comprehensive modern data analysis and reporting tools.

• Reduced risk. Our industryexperts with many years of bothreinsurance business and DXC solution experience bring you high-quality products and low-risk implementations.

• Flexible choice of traditionalor managed solutions. Deployment in house or on a fully managed software-as-a-service basis.

Solution Sheet

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Solution Sheet

Extensive automation — of many aspects of contract and claims administration and associated accounting transactions — saves time and reduces operational costs, while also providing all the activity tracking and reporting necessary to meet regulatory requirements. SICS also provides internal workflow, enabling a business to tailor processes and approvals. Its integrated business intelligence suite will give you complete and accurate real-time information for analysis and informed decision making.

SICS has a wide range of out-of-the-box integration capabilities, including an extensive set of web services and an ACORD-compliant e-messaging component, enabling it to be readily integrated within any systems landscape. It is a fully multicompany, multicountry and multicurrency solution, with a powerful multi-GAAP component. SICS is used by more than 80 reinsurance and insurance clients globally, and supports multilingual environments.

Xuber for Reinsurers Enterprise

Ideally positioned for global P&C reinsurers to manage a complex commercial lines business, Xuber for Reinsurers Enterprise is designed for deployment in complex system landscapes within P&C carriers, whether operating in local or global markets.

Its four components — Xuber Contract, Xuber Claims, Xuber Billing and Xuber Retro Ceding (incorporating the GLOBAL XLPro calculation engine) — can be deployed separately for integration with existing systems or used together as a comprehensive end-to-end solution. As an end-to-end solution, the system uses a common database and provides extensive and seamless reporting, including real-time dashboards, as well as information management across the full life cycle.

The database is also common across all components of Xuber for Reinsurers Enterprise and its sister product Xuber for Insurers Enterprise, enabling all commercial insurance lines as well as all reinsurance business (whether assumed or ceded) to be supported by a single global instance of the software.

Xuber for Reinsurers Enterprise clients benefit from a powerful “design studio” configuration tool that provides a central administration point for products and business rules. The system has a comprehensive set of reinsurance line-of-business templates for workflow, data and user interface, which speeds initial setup of the system, making for a smoother initial deployment.

The system offers a range of standard business services and ACORD-compliant messaging services for ease of integration with your existing application landscape, including the London Market Bureau messaging systems. Workflow and document production and management are fully integrated, as is distribution management. Like all of DXC’s reinsurance systems, it supports multicurrency, multicompany and multilingual requirements.

DXC insurance by the numbers

• No. 1 provider of core insurancesolutions globally

• No. 1 provider of servicesand technology to the London Market

• 45+ years in the insurance industry

• 1,900+ insurance clients

• $5B+ annual premiumsprocessed in DXC BPO

• 14.5M+ policies under DXC management

• 60% of insurance companiesin Fortune’s Global 500 are DXC clients

• 18,000 experienced professionals serve insurance clients in morethan 50 countries

Solution Sheet

GLOBAL XLPro for automating calculations

A technologically advanced ceded P&C reinsurance solution, GLOBAL XLPro fully automates a reinsured’s calculations for recoveries and costs, as well as providing the required documentation and credit control functionality. It can be implemented as a standalone solution to be integrated with any existing policy management system, including Xuber for Insurers Enterprise, as well as with Xuber for Reinsurers to manage retrocessions.

With its sophisticated calculation engine and extensive configurability, GLOBAL XLPro manages the entire outward reinsurance process with a high degree of automation, making it one of the most complete and compliant solutions in the P&C reinsurance market, across both personal and commercial lines. It provides accurate and consistent results, even for large volumes of business in highly complex and custom/bespoke reinsurance programs.

GLOBAL XLPro is designed to be readily integrated with third-party systems to improve straight-through processing in managing an insurer’s ceded reinsurance program. It is a highly flexible system, with the ability to vary calculation rules for a contract — for example, using clauses that mirror the clauses included in the contract wording.

The system provides powerful reporting facilities and simplified investigations and audits, as well as a dedicated excess of loss incurred but not reported (IBNR) forecast module, enabling simulated recovery runs based on IBNR loaded claims, and also running a range of other realistic data scenarios.

Benefit from industry-leading reinsurance solutions

Compete more effectively in the global market, improve risk analysis and decision making, and control costs with DXC’s industry-leading products, consulting and services for reinsurers.

DXC has served the reinsurance industry for nearly 4 decades, bringing together our industry knowledge, business transformation and technology expertise to create value-added solutions for our clients. Fully supported by a team of experienced industry professionals, DXC will continue to enhance its solutions as a result of product development and specific client requirements to meet evolving client and market needs.

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About DXC in Insurance

DXC’s technology and expertise empower insurance companies to compete in today’s increasingly digital and customer-centric environment. With 45-plus years of industry experience, DXC helps insurers orchestrate the journey to next-generation infrastructure, modernized applications and better, more efficient insurance processes.

With an outside-in approach to insurance, we address specific business needs around digital growth, legacy transformation, efficiency gains and improved speed to market. Leveraging a deep roster of best-of-breed partners, we focus on delivering real business value by enabling our clients to take advantage of the most effective technology solutions available.

Featuring the largest portfolio of insurance software and services in the industry, DXC’s commitment to the market is unmatched, with thousands of dedicated insurance professionals located around the world.

© 2017 DXC Technology Company. All rights reserved. MD_6217a-18. May 2017

Learn more at www.dxc.technology/reinsurance

Solution Sheet

About DXC Technology DXC Technology (DXC: NYSE) is the world’s leading independent, end-to-end IT services company, helping clients harness the power of innovation to thrive on change. Created by the merger of CSC and the Enterprise Services business of Hewlett Packard Enterprise, DXC Technology serves nearly 6,000 private and public sector clients across 70 countries. The company’s technology independence, global talent and extensive partner network combine to deliver powerful next-generation IT services and solutions. DXC Technology is recognized among the best corporate citizens globally. For more information, visit www.dxc.technology.