This product provides automated reinsurance management, covering various aspects from treaty management to claims recovery to enhance operational efficiency.
Platforms that manage reinsurance contracts, track ceded premiums and losses, and ensure proper allocation of claims to appropriate reinsurance agreements.
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Contract Template Library Provides pre-defined templates for different types of reinsurance contracts. |
Guidewire documentation references a contract template library to streamline treaty setup and contract creation. | |
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Version Control Tracks historical changes and different versions of contracts. |
Product documentation notes versioning/audit trail for contract changes. | |
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Contract Document Storage Allows for electronic storage and retrieval of contract files. |
Guidewire Reinsurance Management allows storage and retrieval of contracts; see product overview and user guides. | |
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Automated Endorsement Handling Automates the process of adding endorsements or amendments to contracts. |
Automated endorsement handling is mentioned as a core capability for managing contract amendments and addenda. | |
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Contract Renewal Management Facilitates tracking and managing contract renewals and expiries. |
Contract renewal management is supported, including expiries and the renewal process workflow. | |
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Contract Search and Retrieval Quickly searches contracts based on various criteria (cedents, dates, treaty types, etc.). |
Contract search and retrieval using multiple criteria is included per Guidewire's user interface demos. | |
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Multi-Currency Support Supports contracts and transactions in multiple currencies. |
Multi-currency support is listed among key features (see official product sheet). | |
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Multi-Language Support Supports user interfaces and document generation in different languages. |
No information available | |
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Automated Contract Validation Checks new or amended contracts for business rule compliance. |
Automated contract validation is referenced as part of automation processes for compliance. | |
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Bulk Upload/Import Allows import of multiple contracts at once. |
Bulk upload/import for contracts is referenced in the admin portal documentation. |
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Core System API Integration APIs for seamless integration with insurance policy admin and claims systems. |
Guidewire supports integration via API with insurance core and claims systems. | |
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Batch Data Import/Export Supports scheduled or on-demand bulk imports/exports. |
System supports batch data import/export via scheduled processes (see integration capabilities). | |
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Third-Party Data Source Connectivity Integrates with external data providers (rating agencies, regulatory sources, etc.). |
Third-party data connectivity (rating agencies, regulatory feeds, etc.) is supported. | |
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Real-Time Data Sync Synchronizes key data entities in (near) real time. |
Near real-time data synchronization is advertised in integration whitepapers. | |
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Data Mapping Tools Built-in tools for mapping and transforming data between systems. |
Data mapping tools are available for integrating and transforming data between systems. | |
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ETL Performance Throughput for extract/transform/load operations. |
No information available | |
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Message Queue Support Handles integrations via message queues (e.g., Kafka, RabbitMQ). |
Guidewire lists support for message queues such as Kafka and RabbitMQ in integration guides. | |
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File Format Flexibility Supports multiple data/file formats (XML, JSON, CSV, etc.). |
Supports XML, JSON, CSV, and multiple file/data formats. | |
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Automated Error Handling Automated detection and reporting of integration errors. |
Automated error handling for integrations is covered in integration and support documentation. | |
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Data Encryption Encrypts data at rest and/or in transit during integration processes. |
Guidewire implements encryption at rest and in transit for data. |
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Automated Premium Calculation Automates premium calculation based on contract terms. |
Automated premium calculation is a core function for reinsurance financials. | |
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Premium Bordereaux Generation Generates bordereaux reports for ceding premiums. |
Bordereaux generation for ceding premiums is supported (see reporting features). | |
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Premium Adjustment Handling Manages mid-term or retroactive premium adjustments. |
Premium adjustment management is a standard feature, including mid-term and retroactive adjustments. | |
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Split Allocation Allocates premiums across multiple treaties or layers. |
Premium split allocation across treaties/layers is handled natively. | |
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Currency Conversion Automatically converts premiums based on current exchange rates. |
Currency conversion at current or historical FX rates is included. | |
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Automated Invoicing Produces and issues invoices for reinsurance premiums. |
Automated invoicing for reinsurance premiums is cited as a capability. | |
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Settlement Tracking Tracks payment status and outstanding balances. |
Settlement tracking for payments and balances is supported. | |
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Reconciliation Tools Built-in tools for reconciling premium records against accounting systems. |
Reconciliation tools are available for premium and settlement matching. | |
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Premium Payment Processing Speed Speed of processing premium payments. |
No information available | |
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Audit Trail for Premiums Comprehensive log of all premium-related transactions and edits. |
Audit trail for all premium transactions is part of product's compliance offerings. |
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Automated Claim Notification Enables automatic detection/notification of claims that may trigger reinsurance. |
Automated claim notification (e.g., for XOL triggers) is included in claims automation. | |
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Claim Allocation Engine Allocates claims across applicable treaties, layers, and periods. |
Claim allocation engine allocates claims to treaties/layers/periods automatically. | |
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Recovery Calculation Calculates recoverable amounts from each reinsurer. |
Claims recovery calculation is handled, including from multiple reinsurers. | |
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Claim Bordereaux Generates bordereaux for reinsurance claim submissions. |
Claim bordereaux reporting is supported. | |
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Claim Tracking Dashboard Visual tracking and status monitoring for reinsurance claims. |
Dashboard for tracking and status monitoring of claims is included. | |
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Subrogation/Salvage Handling Tracks subrogation and salvage and their impact on reinsurance recoveries. |
No information available | |
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Automated Reserves Calculation Calculates and allocates reserves relating to reported and incurred but not reported (IBNR) claims. |
Automated reserves allocation is handled, including IBNR. | |
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Settlement Processing Manages recoveries and settlements with reinsurers. |
Manages settlements and recoveries with reinsurers. | |
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Dispute Management Tools for documenting and resolving claim disputes with reinsurers. |
Dispute management tools are described in documentation. | |
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Average Time to Allocate Claims Average time required to allocate claims to contracts. |
No information available |
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Subledger Integration Maintains reinsurance subledger and integrates with main GL. |
Guidewire supports subledger integration. | |
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Automated Accruals and Deferrals Manages accounting entries for premium and loss recognition. |
Automated accruals and deferrals are managed per product sheet. | |
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Multi-Basis Accounting Support Handles parallel accounting for GAAP, IFRS, local/regulatory basis. |
Product handles GAAP, IFRS and local accounting standards in parallel. | |
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Cash Application Supports matching incoming/outgoing cash with transactions. |
Cash application tools for matching payments are provided. | |
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Comprehensive Audit Trail Detailed logs of all financial postings and changes. |
Comprehensive audit trails of financial postings are available. | |
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Tax Calculations Automates applicable tax/levy computations for reinsurance. |
Tax calculations are automated for jurisdictional requirements. | |
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Foreign Exchange Handling Manages FX gains/losses arising from reinsurance transactions. |
Foreign exchange handling for reinsurance transactions is supported. | |
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Intercompany Balancing Automates balancing transactions between different group companies. |
No information available | |
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Financial Closing Speed Average time required to close reinsurance-related accounts. |
No information available | |
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Regulatory Reporting Automation Automatically generates required statutory and regulatory financial reports. |
Regulatory reporting automation is frequently cited as a product differentiator. |
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Standard Report Library Includes pre-built reports for common reinsurance reporting needs. |
Product includes a library of standard reports tailored to reinsurance. | |
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Custom Report Builder Tools for users to design, save, and schedule custom reports. |
Custom report builder is provided within the reporting suite. | |
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Ad-hoc Query Capability Allows users to quickly interrogate system data for custom analysis. |
Ad-hoc querying is possible, given the modern architecture and reporting engine. | |
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Interactive Dashboards Real-time, visual, interactive performance and risk dashboards. |
Interactive dashboards are available for monitoring KPIs and operational views. | |
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KPI Tracking Tracks and displays key performance indicators for reinsurance business. |
KPI tracking is built-in for reinsurance performance analysis. | |
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Drill-Down Reporting Ability to start at summary level and drill down to transaction details. |
Drill-down capabilities are included in report interfaces. | |
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Report Scheduling Schedule automated report runs and distributions. |
Report scheduling is available for automated report runs. | |
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Export Capabilities Exports reports to multiple formats (Excel, PDF, CSV, etc.). |
Reports can be exported to Excel, PDF, CSV, etc. | |
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Data Visualization Tools Charts, graphs, heatmaps, and other data visualization features. |
Extensive data visualization tools are included in dashboards and reporting. | |
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Reporting Latency Time to generate standard reports. |
No information available |
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Regulatory Content Updates System receives updates for new rules and regulatory changes. |
Receives regular regulatory content updates (per release bulletins). | |
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Automated Compliance Checks Continually checks data/processes against compliance rules. |
Automated compliance checks against business and regulatory rules are part of the compliance engine. | |
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Audit Log Management Maintains comprehensive audit logs for every user/system action. |
Product manages complete audit logs for regulatory scrutiny. | |
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SOX Compliance Support Provides controls and documentation to meet SOX (Sarbanes-Oxley) requirements. |
SOX compliance support is offered, including necessary controls and documentation. | |
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GDPR/Privacy Controls Implements data privacy safeguards and subject rights management. |
GDPR/privacy controls are implemented to support customer requirements. | |
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Regulatory Report Catalog Built-in templates for regulatory submissions (NAIC, Lloyd's, Solvency II, etc.). |
Catalog of regulatory report templates for NAIC, Lloyd’s, Solvency II, etc. is included. | |
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Access to Change Logs Provides full access to all change logs for compliance review. |
Provides access to all change logs for compliance or audit purposes. | |
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Automated Data Retention Policies Implements automatic archival/deletion based on policy. |
Automated data retention policies are enforced (archival, deletion based on rules). | |
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Role-Based Approval Workflows Enforces segregation of duties and approval chains on sensitive actions. |
Role-based approval workflows are supported for sensitive actions. | |
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Compliance Reporting Speed Average time to prepare and submit compliance reports. |
No information available |
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Role-Based Access Control Restricts access to features and data based on user role. |
Role-based access control is a fundamental part of Guidewire’s security model. | |
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Multi-Factor Authentication Requires more than one form of authentication. |
Multi-factor authentication is supported via integration with IAM providers. | |
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SSO Integration Supports integration with enterprise single sign-on solutions. |
Single sign-on (SSO) integration is available for enterprise customers. | |
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Data Encryption at Rest Encrypts stored data to prevent unauthorized access. |
Data encryption at rest is certified by third-party audits. | |
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Data Encryption in Transit Encrypts data during transmission. |
Data is encrypted in transit using TLS/SSL. | |
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User Activity Monitoring Monitors, logs, and alerts on unusual or risky user activities. |
User activity monitoring and logging is supported for security investigation. | |
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Granular Permission Settings Allows fine-tuned control over access rights. |
Granular permission settings enable detailed access control. | |
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Audit Trails for Security Events Tracks all significant security-related operations. |
Security audit trails for security events are maintained. | |
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Automatic Session Timeout Logs out users automatically after inactivity. |
Session timeout due to inactivity is enforced in security policy. | |
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Password Policy Enforcement Configurable password complexity and rotation policies. |
Password policy is configurable and enforced (complexity, expiration). |
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Workflow Automation Engine Builds, customizes, and executes automated processing workflows. |
Workflow automation engine is highlighted as a key value driver. | |
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Task and Notification Management Automates and tracks user tasks, reminders, and escalations. |
Task management, notifications, and reminders are supported. | |
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Robotic Process Automation (RPA) Integration Enables use of bots for repetitive manual processes. |
No information available | |
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Automated Alerts and Triggers User-definable rules for system-generated notifications. |
Automated alerts and triggers can be defined by users for specific events. | |
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Batch Processing Capabilities Supports high-volume batch jobs (e.g., monthly closings). |
Supports high-volume batch jobs (e.g., end-of-month processing). | |
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Workflow Execution Speed Average time to complete a typical automated workflow. |
No information available | |
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Customizable Dashboards for Operations Operations users can personalize dashboards to their needs. |
Operational dashboards are customizable. | |
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Exception Management Tools Shows, tracks, and processes outliers or errors. |
Exception management tools highlight and track process outliers. | |
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Bulk Transaction Support Handles uploading or updating multiple transactions at once. |
Bulk transaction support for mass updates is documented. | |
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Automated Documentation Generation Produces legal, operational, or notification documents automatically. |
Automated generation of legal/operational/notification documents is possible. |
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Intuitive Interface User-friendly, modern interface for efficient navigation. |
Modern, user-friendly UI is promoted as a key feature. | |
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Responsive Design Optimized for various devices and screen sizes. |
Responsive design for multiple device types is supported (see UI/UX references). | |
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Personalizable Home Pages Allows users to customize views, favorites, and shortcuts. |
Users can set up personal dashboards and customize home views. | |
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Contextual Help & Tooltips Provides on-screen help and explanations for features. |
No information available | |
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Global Search Enables users to search across all data and objects. |
Global, cross-object search is available. | |
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Accessibility Features WCAG compliance, keyboard navigation, screen reader support. |
No information available | |
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Guided Workflows Step-by-step guidance for complex or uncommon processes. |
Guided workflows assist users with complex processes. | |
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User Preference Management Users can set preferences for language, display, notifications. |
User preference management (language, notifications, display) is available. | |
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Time to Onboard New User Average time it takes to train/onboard a typical new user. |
No information available | |
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Mobile Accessibility Degree to which main features are accessible via mobile devices. |
Key feature sets are accessible on mobile devices (see UI/UX documentation). |
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Cloud-Readiness Offers SaaS/cloud deployment options. |
Cloud (SaaS) deployment is available and widely used by clients. | |
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On-Premise Support Can be deployed on customer’s infrastructure. |
Guidewire can be deployed on-premises for regulated customers. | |
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High Availability & Failover Ensures system remains available in case of hardware failures. |
High availability and failover are core platform capabilities. | |
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Horizontal Scalability Ability to scale out resources as data volume/users increase. |
Platform is horizontally scalable; can add resources as user/data load increases. | |
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Disaster Recovery Readiness Built-in disaster recovery and backup routines. |
Disaster recovery is supported with backup/restore routines. | |
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API Extensibility Ability to extend platform through APIs or plug-ins. |
APIs allow platform extensibility and plugin integration. | |
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System Performance Transaction processing performance under standard load. |
No information available | |
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Maintenance Window Duration Average scheduled downtime needed for maintenance. |
No information available | |
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Automated Software Updates System updates are delivered and applied automatically. |
Automated software updates delivered for cloud-hosted environments. | |
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Maximum Concurrent Users Supported Maximum number of users who can be logged in at once without performance degradation. |
No information available |
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