Digital modernization for reinsurers
Atos is enabling reinsurers to confront their most common challenges
Our solution helps Reinsurers unlock their data to control risk through sophisticated risk analysis, improved secured data exchange capability, faster solvency and cash flow calculations by 60% and optimising technical risk reserves and capital management.
Atos enables new ways of working for reinsurers by focusing on
- Enabling the secure exchange of data with cedants and regulators through a digital mechanism
- Integrity, timeliness and accuracy of financial, asset and liability data
- Improved Time to market for operationalising new treaty arrangements
- Better use of data – analytical capabilities for generating insight and automating reporting
- Integration with the existing core business systems
Operational Efficiency
62% say that manual processes for reinsurance administration are slow, costly, and prone to having data entered incorrectly
Data
65% of reinsurers mention data quality as a major challenge; And 46% want to focus on Analytics leveraging data for cedents
Reporting
36% mention reporting and accuracy to be a major hassle
Success Stories
Solution Features
Supporting Actuarial, Asset Management, Investment accounting, Finance and Operations
Leverage public cloud technologies, open-source frameworks and languages
Automated security and test
Bespoke apps for reinsurers
Atos assets for Reinsurer
- Design patterns and Framework
- Reinsurance experienced SMEs, Product Managers / Owners
- SMEs in Regulation and compliance with Atos being an FCA regulated entity
- Technology partnerships e.g. DLT, Google, BI tool–looker
- High performing & multi-skilled product development squads ready to go from day 1
- Collaborative and agile environment between IT and Business to ensure timely benefits
Data validation rules and automated custom data transformations
Our Apps
Atos has bespoke Apps for reinsurers
Cedant App
2-way file sharing application where cedants and other 3rd parties exchange data with the Reinsurer. Automated anti-virus checks, and PII data compliance scanning. Data exchange is backed by a DLT (Digital Ledger Technology) to ensure accuracy.
Actuarial App
Receives data from various other source systems to allow the actuaries to quickly and accurately make their solvency ratio calculations without the effort of extensive data manipulation.
Pricing Check App
Automates asset pricing checks, by comparing asset prices against reputable vendors like ICE pricing and Bloomberg.
Asset Management App
Automates the forecast of asset cashflows between 3rd party systems & generates an asset report.
Month-end Check App
Automates the essential month-end asset data quality process checks, saving time and reducing key person dependencies.
Solvency & EBS App
Takes data from all functional groups in the data lake and runs business intelligence, outputting solvency ratio and Economic Balance Sheet reporting.
How do we get started?
Using the Atos Business Value Framework, we start every project with a focused EXcelerator that consists of two main components:
1
Discovery and Solutioning
- Define business objectives
- Baseline key performance metrics
- Ideation and experience mapping
- “Ask the Experts” user and/or stakeholder research (optional)
- Generate and prioritize solutions proposals (hypothesis)
2
Joint Technical Design Session(s)
- Technical solutioning
- Event storming (dependencies and flow)
- UI/UX concept sketching
- High-fidelity spotlight concepts (optional)
- Risks and Non-functional specifications
- Project decomposition and planning
- Team backlog and release planning
- Targeted returns based on planned improvements
3
Kickoff Iterative, Incremental Development
Business Benefits
Enabling New ways of working
Deeper Integration with Partners & Customer
- Frequent and Detailed data exchange with insurers
- Processing of real-time data with insurers
- Optimised and automated Processes and Activities
Better Data Management and Analytics
- Enable capture of raw data from Cedants
- Improve risk management, best pricing capabilities
- Improved quality of data
- Extend data insight capabilities
Better Value Generation for Partners
- Provide portals with simple UI to enable data access
- Extend services to Cedants
- Create Digital solutions to externalize data in a secure and protected manner
Improved Financial Controls
- Integrated environment with built-in checks to ensure the financial integrity of data
- Operationalise treaty data within the Admin platform
- Timely and accurate data submissions
- Compliant operations
Enhanced Treaty and Service Offerings
- Enable rapid onboarding, operationalization of Treaty and Service Definition
- Create adaptable architecture to support growth
- Efficient & effective service
Latest Thinking
Blog
Riding the wave of change in global risk and data
Video
Expert Conversation, Ashish Bhuwania
Our Experts
Vinay Nagwekar
Director – Insurance, Atos
Ashish Bhuwania
VP & Sales Director, Financial Services & Insurance, Atos
Register your interest and lets start a conversation on a solution for your company
Connect with our experts today to find answers to the most crucial questions.