Reinsurance Account Reconciliation demo
Cedant, broker and reinsurer statements matched line by line, with every difference explained. 1:15
What the demo shows
A reconciliation solution that matches cedant, broker and reinsurer statements line by line.
Six agents read the cedant's ledger, the broker's statement of account and the reinsurer's technical account, tick every item that agrees in all three, and explain every one that does not — an exchange rate taken on the wrong date, a loss booked in the next quarter, a missing tax allowance, a cash call paid direct, a duplicate — with the line in each statement, the arithmetic and the treaty clause that says who corrects. The accountant agrees the account and the finance controller co-signs the settlement.
Transcript
- Reinsurance Account Reconciliation matches Cedant, broker and reinsurer statements line by line, for reinsurance accountants.
- Each quarter, three statements of one account arrive in different formats, and they rarely agree.
- Here is Northfold Re's second quarter on the property quota share.
- The agents tick every item that agrees in all three statements.
- Northfold's statement is $12,000 lower on the Moncton Warehouse fire.
- Northfold used the quarter-end rate, the treaty names Calder Ridge's book rate.
- Ashgrove's three breaks go to the broker, with every line quoted.
- Once agreed, the settlement is drafted for the controller to sign.
- Statements matched line by line, every difference explained, settled in days, not months.
- Built on Botminds: agents, data, screens, and governance on one platform.
Transcribed from the film’s narration. Captions are on the player.