Manage Reinsurance Contracts

The Reinsurance Admin solution enables contract managers and operators to efficiently organize their reinsurance data for analysis and operational purposes in an easy way.

To access the reinsurance repository, in FintechOS Portal, go to Main Menu > Reinsurance > Reinsurance Contracts. The list of all existing reinsurance records is displayed.

Reinsurance Admin Statuses and Transitions

The Reinsurance Admin solution enables you to achieve efficiency, gain flexibility and organize your reinsurance contracts for analysis and operational purposes in an easy way.

FTOS_INSPA_ReinsuranceContracts is the business workflow that handles the different types of changes affecting a contract during its lifetime - like transitioning the contract through different business states (from Draft to Terminated).

Below, an example of the this business workflow - as it is displayed on FintechOS Studio:

NOTE  

Reinsurance Admin records that are in Terminated business status, meaning their coverage is finished, are not erased automatically from the system. If you need to, you have to delete those records manually. For more details, consult also the Terminating Contracts page.

The Reinsurance Admin module covers the following business statuses:

Status name Type Description
Draft Initial Status for every record generated into the system - when the user presses Save before attaching any Insurance Type to the contract.
Registered Initial For records that have at least one Insurance Type in the Insurance Type grid.
InForce Ongoing For records that satisfy the following conditions:
  • they are passed their Begin Date.
  • their current date is not the End Date of the contract.
  • at least one Insurance Type is inserted in the Insurance Type Grid .
Terminated Final For records that satisfy the following conditions:
  • at least one Insurance Type is inserted in the Insurance Type Grid.
  • their current date is the End Date of the contract or...
  • the termination of the contract is done manually.

 

Here is a description of the transitions managed through the Reinsurance Admin module:

Transition Description
_Draft The first status for every record generated into the system.
Draft_InForce Automatic transition - based on verifying the Begin Date saved on the form, when registering the reinsurance contract into the system.
The FTOS_INSPA_ReinsuranceContracts job transitions all records from Draft to InForce status, when the records satisfy the following conditions:
  • they are passed their Begin Date.
  • their current date is not the End Date of the contract.
  • they have at least one Insurance Type in the Insurance Type Grid.
Draft_Registered Automatic transition before reaching the InForce status, for records that satisfy the following conditions:
  • their current date is not the Begin Date of the contract.
  • their current date is not the End Date of the contract.
  • they have at least one Insurance Type in the Insurance Type grid.
InForce_Terminated This transition can be triggered in 2 different ways:
Automatically - when the current date is the End Date of the reinsurance contract. Manually, by updating the End Date for the selected record.
Registered_Draft Automatic transition triggered during editing the form, when the user deletes all of the Insurance Type from the Insurance Type Grid.
Registered_InForce Automatic transition triggered for records that satisfy the following conditions:
  • they are passed their Begin Date.
  • their current date is not the End Date of the contract.
  • they have at least one Insurance Type in the Insurance Type Grid.
Terminated_InForce Manually, by updating the End Date (registering a new end date) for the selected record.