Ceded Reinsurance Accounting demo
Reinstatements, sliding-scale and profit commissions worked out from the contract wording, with the clause beside each step. 1:10
What the demo shows
An accounting solution that works out reinstatements, sliding scales and profit commissions.
Six agents read each treaty's adjustable terms from the wording, work out reinstatement premium as each loss is paid — pro rata to amount and time, split across reinstatements — and run sliding-scale and profit commissions in a worksheet with the clause beside every formula; the accountant approves, the controller signs large statements, and one statement goes to each reinsurer.
Transcript
- Ceded Reinsurance Accounting works out reinstatements, sliding scales and profit commissions for insurers.
- Today it's spreadsheets, where one misread clause bills money wrong for years.
- At 9-14, claims pays $2 million more into Northmere's per-risk layer for the Dunmore Fire.
- The payment crosses into the second reinstatement, charged at 125%.
- Each step cites Article 9, pro rata to the amount, and to the 200 days left.
- $489,000. The spreadsheet said $840,000.
- The same check finds $322,000 in commission never billed.
- Six statements, one per reinsurer.
- The controller signs, and they go to the broker.
- Built on Botminds: agents, data, screens, and governance on one platform.
Transcribed from the film’s narration. Captions are on the player.