TMCnet LOGIN
Webinars
Hosted Call Center Featured Article
Prevail Introduces Reinsurance System Hosted Solution
Insurance is a key factor in the economy, and no one can deny the importance of the insurers and reinsurers who are leading financial investors and play an important role to keep the financial sector stable.
To run the reinsurance business in a secure and scalable environment, Prevail Consulting, Inc., a software and technology services provider for the property and casualty insurance industry, has launched its Prevail Reinsurance System Hosted Solution. According to a press release, this Reinsurance Solution will prevent reinsurance fraud and insolvency in the sector. It will assure that exchange of information between user and company take place under the condition of top-level confidentiality.
With this solution, companies will now have the ability to manage their reinsurance business in a secure and scalable environment, while reducing the costs associated with in-house IT infrastructure, personnel and maintenance.
Nat Curiale, executive vice president of Prevail, said, "Our solution has always provided scalability of reinsurance requirements, transaction volumes and physical locations. We have now added another layer of scalability to accommodate any company size, cognizant of infrastructure and IT costs."
The Prevail Reinsurance System entirely automates the management of reinsurance data for insurance and reinsurance companies. It accepts premium and loss data from external systems, calculates ceded data, creates payables and receivables and statutory reports, and then returns this data to the original systems, utilizing the Prevail Cession Web Service, XML or FTP.
Developed on state-of-the-art web technology, it can be accessed from anywhere in the world. Its rules-based, table-driven architecture allows rapid and simple implementation of new and existing reinsurance contracts. Additionally, Prevail continues to offer the Prevail Reinsurance System through its standard software licensing and services model.
Mandira Srivastava is a TMCnet contributor. She works as a full-time writer, ghostwriter and blogger, and has more than two years of experience in print and Web media. She has also worked on company brochures, website content and product descriptions, as well as proofreading and editing content. To read more of her articles, please visit her columnist page.
