Reinsurance Recoveries

Objective
To ensure that all reinsurance recoveries are settled in a timely manner.

We undertake to:-

• Reduce the value and age profile of uncollected reinsurance recoveries
• Identify markets, which require review by our clients’ security analysis committee, and potentially delinquent markets, which may lead to irrecoverable debts if not properly controlled
• Where appropriate, negotiate commutations, accounting cut-offs and compromise agreements
• Recommend systems and procedural improvements that will ensure reinsurance recoveries are accurately recorded and promptly processed
• Provide feedback that will enable reinsurance data to be regularly and accurately updated
• Manage the implementation of agreed recommendations to ensure that the projected profit enhancements are delivered

We have extensive experience in the preparation and collection of reinsurance recoveries. Our negotiation skills have led to successful specialist collections from delinquent reinsurers and the resolution and settlement of long-outstanding collection problems.

Reporting
We utilise i²blade, our unique insurance software, to develop a suite of bespoke reports.
These provide management with :-

• Performance measurement against agreed targets
• Analysis of the outstanding recoveries by broker and reinsurer
• Analysis of the queried and disputed recoveries
• Workflow analysis
• Quantification of potentially irrecoverable debts

Benefits
We have a track record of enhancing profitability for our clients and our main deliverables are:-

• A significant improvement in reinsurance recovery performance
• An increase in investment income and/or a reduction in borrowing costs
• The development and implementation of best practice in relation to the recording, monitoring and collection of reinsurance recoveries
• Early identification of potential problems which facilitates action to minimise or eliminate exposure to potential bad debts