Ambant were contracted to set up and back load all historic reinsurance policies and their respective technical bookings into Elgar. Previously technical transactions had been processed by an external company using spreadsheets.
Project included setting up all relevant risk codes, event codes and claims references to enable correct routing for calculation and reporting purposes.
A full ledger rebuild and reconciliation at Reinsurer level was undertaken which included allocation of relevant LORS entries individually to ensure aged debt was reported correctly.
Following full reconciliation and sign off a full ‘go live’ was implemented.
Use of Subscribe for output/reporting for reinsurance aggregation.
The project included travel to the Belgium and Netherlands offices and close liaison with staff to ensure a full and accurate reconciliation.
Ambant were contracted to migrate data held in one system to another for two Lloyds syndicates which had merged. The objective of this project was to replicate the recovery position held within XLRAS and produce a reinsurance technical ledger to enable reporting and credit control activities out of Elgar.
Ambant ensured that the data to be migrated was full and correct and a review was undertaken between data provided within the reinsurance resumes, Box+ and XLRAS with any differences identified. This was then compared against details held on the relevant cover note. Items were checked at contract level. Data was then loaded into a dedicated Elgar database through Templates and were split into organisations, coverage (risk codes/class codes/territory codes etc),covers (contract data) and events.
A full agg and calc was performed.
A full reconciliation of the output was performed against the original technical balances to ensure accuracy. Following the reconciliation process, a parallel run for the following month was performed. This was further reconciled and presented to the Client for sign off. Following sign off, a full ‘go live’ was implemented.
Reinsurance Technical Support
Ambant provide Reinsurance administration support from technician, Senior Technician to Operational Management.
Duties would include (but not limited to) all aspects of Reinsurance processing.