Most companies are divided into several sections. It is likely, for example, that one company has more than one unit or department bringing revenue into the company. In that case, the company will have several “profit centers,” each of which has its own reporting unit. Reporting units reflect how the business is divided internally according to reporting structure. In SICS, all businesses may be assigned to one or more reporting units, or leaves. ...
General # In the General tab of the Multi GAAP System Parameters, you define the general setup of Multi GAAP, such as Estimation Frequency, Estimation Basis and which Booking Years to estimate. Multi GAAP P&C System Parameters Multi GAAP Life System Parameters Field Description Estimation Basis The Estimation Basis determines how the estimations are booked to the ledger and how the sum up on the Portfolio Program is done. Accounting Year and Booking Year are the options available from the drop-down list. ...
The transfer of accounting information from primary into SICS is done through Policy Ceded Accounting Order. Premium and deduction entries are booked once on technical worksheets while claims are booked twice, first on technical worksheets and secondly on claim worksheet. Note! Policy Ceded Accounting Order is only available if your company uses the specific Ceded functionalities in SICS. Create a Policy Ceded Accounting Order # The Policy Ceded Accounting Order is set up in SICS from the Find Accounting Order window. ...
Risk zone icon Click the Risk Zone Management icon to see the Risk Zone Management window. You can register, update, and find registered information about which risk zones are used for accumulation control. The main function of this window is to divide countries into risk zone section s. A risk zone system (like CRESTA or NUTS) is at the top of the hierarchy, and it is then broken down by country, and then zones within that country. ...
On this parameter you may enter any information you like regarding the system parameters.
These orders are used to calculate and book the reinsurance cession on all the proportional treaties and proportional facultative certificates. Preliminary Bookings Order should be used when you create the reinsurance bookings for the first time for a worksheet created on the Policy Ceded. These worksheets are marked as Not yet Retroceded. Preliminary Bookings Correction Order should be used when corrections have been done either on the Policy Ceded or on the Outward Treaty that will trigger that already reinsured figures needs to be recalculated. ...
This is where you register the pre agreed apportionment between entities/ syndicates owned/ managed by the same company. The same Business Stamp can be assigned to multiple Joint Contracts. Create a new Business Stamp: Register the pre agreed apportionment between entities/ syndicates: From SICS desktop select Reference Items Select Business Stamps and open in edit mode Select Add Stamp from the pop-up menu Enter Stamp Identifier and Valid Period Select Add from the pop-up menu to register insurer/ reinsurer Enter business partner ID or use the Find facility to select wanted insurer/ reinsurer Tick off Administrator if selected business partner is the insurer/ reinsurer of the lead contract Enter insurer’s/ reinsurer’s Share Press Save Repeat points 5-9 to add more insurers/ reinsurers When Total share is 100%, press Save to save the new Business Stamp Press OK Change Business Stamp Details ...
Anonymize Mass Update periodic function # Here you can search for orders that have been created to do mass anonymization of personal data for Insurable Objects Type Person or Third Parties (Insurable Object for Life). When you press List you will list all orders created up to now. You can search the order by ID or title into Properties Tab while Advance allows you to search by Creation date time stamp and the use who has created it. ...
Before the task management functionality can be used, there are a number of setup tasks to be performed. General Settings # Field Description Default language All descriptions and names on Task Management templates are displayed in the language selected.Values: Customized by your company, e.g.:EnglishFrenchGermanItalianNorwegianSpanishDefault: EnglishRelevant when: Your company wants to show the Reference Data values (dropdown lists) in some language other than the default language. Applicable for P&C, Cede, Life Open list of claim TM templates after closing claim worksheet Selected: Upon closing a claim worksheet on a claim where ‘Transfer to Ledger’ is not selected, system automatically opens Task Management / Start Process for the current claimNot selected: Task management is not opened upon saving claim worksheetRelevant when: You want to make sure e. ...
SICS makes it possible to find, create and update Process ID in a Process ID Table. The Process ID is used to identify balances, and can be linked to both Technical and Claim Balances. Find Process ID # Click the Process ID icon to open the Find Process ID window. The Find Process ID window has 2 sub tabs, and from the Properties tab, you can perform searches based on the following search criteria: ...