07 Jul Quota Share Treaties with B3i Re
Version 2.2.0 of B3i Re is expected in August 2021.
Last time, we outlined some of the new features you can expect in version 2.2 of B3i Re. This time B3i Reinsurance Product Owner, Aris Tzakas, discusses the new features of Quota Share Treaties on B3i Re.
Insights from the Team
Having introduced Excess of Loss treaties in previous releases, we are adding support for Quota Share treaties which will allow customers to capture and place the majority of Treaty types used in the market (Stop Loss will be coming next year).
This update will enable the submission, negotiation and binding of Quota Share treaties. The terms and conditions can be constructed using multiple sections, each capturing a number of conditions, including:
- Multiple limits
- Coverages and exclusions
- Ceding commission (fixed or sliding scale)
- Profit commission
- Cash Loss Limit
- Loss Cap
- Claims Notification limit
Placement of Quota Share treaties will come with all the existing features that apply to Excess of Loss treaties, including audit trail, email notifications, PDF export of the contract.
Customers will also be able to take advantage of the improved file management capabilities, which allows the exchange of large files (up to gigabytes in size) between cedents, brokers and reinsurers. Later this year we will expand the technical accounting and claims modules to also cover Quota Share treaties.
This release is built on top of the B3i Fluidity® platform, and delivers improvements to the services, components and protocols that enable the end-to-end management of all reinsurance contract types.
The team remains focused on our goal of automating the administration, removing costs and generating substantial benefits for cedents, brokers and reinsurers.
Download the full list of features which are coming to B3i Re v2.2 in August 2021.