What's new

Business #

SE-26121 - SICS UI/UX Improvements - Handle Offer and Bouquet Calculation Groups - DXC #

Aim of function

The user experience of grouping contracts has been improved.  The user can now manage offer groups, merger groups, bouquet calculation groups and master treaty groups from one and the same place on the contract, namely on the groups tab. Also, while being on the contract, the user can now use new icons for finding, listing, creating and assigning groups.  

Business value for customers

Improved user experience and usability.

System Parameters Affected

N/A

Existing functionality affected

Manage Offer Group
Manage Bouquet Calculation Group
Manage Merger Groups
Manage Master Tretay Groups

Changed documentation

Cede and NP Recovery #

SE-26881 - Include Reporting Unit in Domain Retrieval for Policy Light - AGCS #

Aim of function:
Improvement of Domain Retrieval for Policy Light by including Reporting Units

Business value for customers
Access to the registered Reporting Unit for the light object via domain retrieval for web services: SicsPolicyLightBusinessReference

System Parameters Affected:
N/A
 
Existing functionality affected:
Domain Retrieval for Policy Light

Changed documentation

SE-26583 - Add and Realize Proportional Fac OCC Protection via Web Service - Allianz AG #

Aim of function
Create Web Service for Add and Realize Proportional Fac OCC Protection for Policy Light, Assumed Fac, Direct Business and Policy Ceded

• Development; including XML
• Testing

Business value for customer
Prop Fac OCC could be defined and created via Web Service

System Parameters affected
N/A

Existing Functionality affected
Add and Realize Fac OCC Protection online

Changed documentation

Claims #

SE-26867 - Display FGU Advisory creator and timestamp API changes - Renaissance Re #

Aim of function:
Introduce support for FGU creator and timestamp in domainRetrieval API

Business value for customer
FGU advisories can be retrieved with creator and timestamp

System Parameters affected
None

Existing Functionality affected
domainRetrieval API

Changed documentation

DARE #

SE-28045 - 24.2 AI Reinsurance Contract Validation PoC - DXC #

Analyze the Reinsurance contract documents to identify discrepancies between the original PDF contract wording and the digital contract entry represented in JSON format. Focus on key areas such as:

1. Contract Parties: Ensure the names and addresses match between the PDF and the JSON entry.

2. Policy Limits and Terms: Compare policy limits, coverage terms, and expiration dates to verify consistency.

3. Premiums and Payments: Check that the payment terms, amounts, and schedules align.

4. Special Conditions and Exclusions: Identify any mismatches in special conditions or exclusions listed in the documents.

5. Signatory and Date: Confirm that the signing parties and date of agreement are correctly recorded.

Report any discrepancies found, categorizing them by the type of mismatch (e.g., policy terms, payments, conditions). Provide a brief summary of each discrepancy and suggest potential reasons for the mismatches if apparent from the context. Include direct quotations from the documents where relevant to support your findings.

Changed documentation

SE-28682 - Enable asynchonous logging capability - DXC #

Aim of function
Enable asynchronous logging in the log4j framework as a potential performance benefit when diagnostic logging is enabled.

Business value for customers
The ability to perform diagnostic logging to identify issues without incurring a runtime performance overhead.

System Parameters Affected
N/A
Existing functionality affected
N/A

Changed documentation

eMessaging #

SE-23788 - Search/Filter - Receiver Business Reference - Hamilton Re. #

Aim of function

• To include the Cedant reference (Receiver Business Ref) in the search criteria of the eMessaging find window

Business value for customers

• Cedant Reference (Receiver Business Ref) will be made available to search eMessages in the eMessaging find window.
• Applicable for LORS (Lloyd's Outward) Messages

System Parameters Affected

None

Existing functionality affected

Processing of eMessages.

Changed documentation

SE-23790 - Additions to results grid in Find eMessaging messages - Transaction Type & Transaction Reference - Hamilton Re. #

Aim of function

• To include a column for Transaction Type and Transaction Reference in the grid view

Business value for customers

• Transaction Type and Transaction Reference column will be made available in grid view under eMessaging find window.
• Applicable for LORS (Lloyd's Outward) Messages

System Parameters Affected

None

Existing functionality affected

Processing of eMessages

Changed documentation

SE-24996 - Extend the functionalities of Accounting classification mapping and Previous message mapping to CM Messages - Renaissance Re #

Aim of function

When the rule ModifyCMAccountClassificationReferencing is defined the reference to AC is required according to eMessaging Processing option. By Extending the functionalities of Accounting classification mapping and Previous message mapping to CM Messages reference to AC is maintained automatically by mapping rules.

Business value for customers

System will make a reference to the Accounting Classification on CM Messages.

System Parameters Affected

Classification Mapping

Previous Message Mapping

AccountingClassificationAfterSectionReferenceRule

AccountingClassificationReferenceRule

PreviousMessageMappingRule

Existing functionality affected

Accounting Classification Reference

Changed documentation

SE-26516 - New Modify rule: ModifyCompareDuplicateEntryAmounts for Lloyds - Renaissance Re #

Aim of function

To book the missing detail amount of a Multiple Account Type Group when emessage is received with only one detail amount along with a total amount in a group.

Business value for customers

• The missing detail amount will be booked on a worksheet. 
• Correct amounts on the ledger. 
• CompareDuplicateEntryAmounts rule will not raise an error for missing a detail amount in a group.

System Parameters Affected

CompareDuplicateEntryAmountsRule

Existing functionality affected

Booking of individual items in Multiple Account Type Group

Changed documentation

Life #

SE-26959 - Update Claim transaction on cession benefit - FWD #

Aim of function

Ability to automatically terminate the cession benefit when there is a claim created on the cession benefit for specific products based on a reference data dependency

Business value for customers

It will now be possible for the customers to configure products where the cession benefit will also be terminated automatically once a claim such as a death claim is created on the linked cession benefit. This way there can be no further transactions done on the linked cession benefit and also, any recovery or reversals of premiums that might have been paid on the cession benefit after the claim event date can be automatically reversed.

 
System Parameters Affected

None

Existing functionality affected

A new Reference Data value for 'Benefit Behaviour' 'Terminate Cession on Claim' is available
When the Benefit Covered that has been configured is defined with this Benefit Behaviour as a child dependency then when a claim is created on a cession benefit of a cession where the ceded flag is selected, the cession benefit will be automatically terminated with the status 'Automatic Expiry' as on the event date of the claim.
The unearned premiums will be calculated on the cession benefit based on the definition on the AC condition.

Changed documentation

SE-26995 - Declined Claim handling for Bundled Products - FWD #

Aim of function
The aim of the function is to be able to handle recovery of declined claims for bundled products where the reinsurance premiums less the previous claims paid are recovered

Business value for customers
For products where there are specific rules for recovery of premiums in case of declined claims there are now different options to support various calculation rules.

System Parameters Affected
None

Existing functionality affected
For claims on cessions where the Ceded flag is selected, there is now a new status 'Declined' that is allowed. On a Declined claim the following options are available and selection of each option will result in the claim recovery being calculated based on the reinsurance premium paid.

1) Previous Claim Less Premium Paid : When this option is selected in Decision/ Liability tab the Retro & Placement claim ACI's calculation will use the following rule: The accumulation of all previous CEDED PAID claims of same Insurance product and same IO of all benefits of the same cession - Premiums paid on all linked retrocessions of same Insurance product and same IO of the same cession.

2) Premiums paid on Pro rata basis after the date of claim :

If the claim event date is falling in between any effective period of the linked retrocession then the Retro & Placement claim ACI's calculation will use the following rule: Premium calculated on pro rata basis (similar to how it's happening for Termination transaction) from the claim event date to the end date of that effective period of linked retrocession + remaining premiums of transactions of linked retrocession whose effective period is after the claim event date

Changed documentation

SE-26996 - Profit Commission calculation on section level - FWD #

Aim of function

Profit commission order to calculate the profit commission per section.
Include Booking Year and Period in the extraction criteria and as calculated values in the Profit Commission Calculation rule.

Business value for customers

Customers will now be able to define profit commission calculation rules to use both booking year and period or accounting year and periods. They will also be able to define and calculate the profit commission on section level. 

System Parameters Affected

Two new calculated amounts for Current Booking Year and Period and Previous Booking Year and Period are now available in the Profit Commission calculation rules.

Existing functionality affected

1. It is now possible to define the Profit Commission Condition on each section of the treaty. When the PC calculation order is run the bookings made on each section of the treaty will be used and the profit commission for each section will be calculated and booked on the technical worksheet

2. The profit commission calculation order now can extract the bookings for the current and previous Booking Year and Period OR current and previous Accounting Year and Period. Based on the selection on the order and the refrenced profit commission calculation rule, the profit commission will be calculated and booked when the order is run

3. The Profit Commission Calculation rule can use parameters for both Booking Year and Period and Accounting Year and Periiod

Changed documentation

SE-26997 - New fields on cession level in the Cession and Retrocession webservices - FWD #

Aim of function

Several new fields have been introduced on the cession benefit level. These fields are extended to webservices

Business value for customers

All the fields introduced on the cession benefit level are now available for creation through webservices

System Parameters Affected

None

Existing functionality affected

Webservices for Cession and Retrocession handling to include

1. The following elements are available when creating the cessions and standalone retrocessions through webservices
Original Sum Insured
Cedent total SAR.
Ceded Percentage
Deductible
Payment Ratio.
SAR For Retrocession.
SAR Decrement. - Available on createLfCession Operation as element mathematical reserve.
Policy Year.
Preferred Life Classification.
Benefit Reinsurance Start Date.
Original Benefit Reinsurance Start Date.
Other Info 1 to Other Info 36.
Salary
Premium rate
Premium Amount
Currency
Sum At Risk Individual
Free Cover Limit
Female Expiry Age
Male Expiry Age
Short-term - Flag
Premium Calculation Bais
Other Group Info 1
Other Group Info 2
Other Group Info 3
Other Group Info 4

2. 'Allow more than one PP' flag is available for selection on the Retrocession Processing Order xsd
3. On the create Order operation it is possible to create a Retrocession Processing Group Order

Changed documentation

SE-27030 - Premium Calculation Rule on the PM Condition- Additional Variables and calculation - FWD #

Aim of function
Include a set of calculation variables for premium calculation rule that will include Retrocession Placement Cession fields
Add a Retroceded percentage field on the retrocession cessions
Add date variables in the SAR and Premium calculation rules

Business value for customers

Premium Calculation Rules can now be set up to reference to variables on the Retrocession Cession Placement level. So when the PM condition is overridden on the placements, the rules that are defined referencing to the placement level variables will now use the respective fields on the retrocession placement cessions and calculate the ACI on the placements.
It will also be possible to include dates within the calculation rules

System Parameters Affected

Under the Calculation Rules a set of variables under the parent value 'Retrocessionaire Placement' are available. All the fields available on the Retrocessionaire Placement level are listed under this set and can be included in the calculation rules

Existing functionality affected

1. Under System Parameters all Calculation Rules the following set of variables are available. These will reference to the respective fields on the placement cession level and be used for the calculations

2. On the Retrocession Placement cession level a new field 'Retrocessionaire percentage' is available. This will reflect the share of the placement cession from the 100% share

3. The following date values are now available for inclusion in the calculation rules

• Original Reinsurance Benefit Start Date
• Benefit Reinsurance Start Date
• Reinsurance Start Date
• Reporting Date
• Created Date

Changed documentation

SE-27084 - New Life Business Webservices Development - FWD #

Aim of function

Further cleanup of various missing functions in the create and update Life business webservices

Business value for customers

Life Business Webservices

System Parameters Affected

None

Existing functionality affected

• Added a New Element for 'Table Name' on the CreateLfSRConditionforLife operation
• Added a New Element 'Old Business transaction on Risk Premium Basis' for the Premium Condition (createProportionalPremiumConditionForLife Operation).
• Added a New Element 'Fixed Ceded Percentage' for the P&L Condition (createProportionalLimitsGeneralTermsConditionForLife Operation).
• Added New elements on the 'CreateProtectionProgram' operation to define the 'Additional Scope' condition on the OCC created through the Add treaty Outline Option.
• Fixed the Issue of OCC identifier not genarting, when OCC is realized on the Protection Program.
• Created a New Operation 'createReinsuarnceProgramTreatypart' & 'updateReinsuarnceProgramTreatypart' to link an Assumed/Inward Business with a Reinsurance Program.

Changed documentation

SE-27301 - Refund of premium option to exclude the day of termination - FWD #

Aim of function

New Unearned Premium Return option where pro rata refunds will be calculated by excluding the date of termination

Business value for customers

In addition to the existing unearned premium return rules, it will now be possible to define the Unearned Premium Return option where the pro rata to the day refund calculations will be done excluding the date of termination

System Parameters Affected

None

Existing functionality affected

A new value for Unearned Premium Return type 'Exact Pro Rata to the Day - Date of Termination +1' is now available
When this value is selected the pro rata return of premium and related ACIs will be calculated from the next date after the date of termination

Changed documentation

SE-27316 - Include AND and OR operators in Calculation Rules and allow RPO to process retros based on entered ceded percentage - FWD #

Aim of function

Include AND operation in the SAR calculation rules and use the entered retroceded percentage on the cession benefit level to calculate the retro SAR when the RPO is run

Business value for customers

It will now be possible to enter a ceded percentage on the cession benefit and use this value to process the retrocessions when the RPO is run
All the calculation rules will now also allow the AND and OR operations

System Parameters Affected

A new variable %useCededPercentageForRPO included in the SAR calculation rules
AND and OR operations available in all Calculation Rules

Existing functionality affected

• On the cession benefit a new boolean flag and an input field 'Ceded Percentage for RPO' is available
• When there is a value entered on this field AND the variable %useCededPercentageForRPO is selected on the SAR calculation rule, then the RPO will use the value available on the cession benefit to process the retrocessions upto the available capacity and retention as defined on the treaty limit condition

• On all calculation rules, the AND and OR operator is available as | and &. These operators can be used within any calculation rule

Changed documentation

SE-27343 - Automatic Balance Pairing and update Settlement Indicator - FWD #

Aim of function

Automatic defaulting of BP Reference number on the SBG which is the invoice number
'Actual Settlement Date' field for balance pairing
Balance Pairing Order to include 'Invoice number' as part of selection criteria and hide all fields that FWD does not want to see
System parameter driven

Business value for customers

The customer will now be able to automatically update a reference on the Settlement Balance Group and select one or more of these references in the Balance Pairing Group window to process the automatic pairing

System Parameters Affected

A new Life specific System Parameter 'Automatic BP Reference on SBG and selection on Mass Pairing' is now available

Existing functionality affected

When the system parameter Automatic BP Reference on worksheets and selection on Mass Pairing is selected:

• When a Settlement Balance Group is created, on settlement pairing group window Bp Reference is updated as 'Reinsurer (Payment Partner) Short Name + Accounting Period' This will use the Expected Partner name. When there is more than one reference id with the same combination of details the automatic reference id will be incremented with a value of +1

• A new field 'Actual Date of Pairing/ Settlement' on balance paining window and balance pairing group window. This will be open for input

• On the Mass Balance Pairing Order Window the BP reference ids as created for all the settlement balance groups for the selected partners will be available for selection. A field Actual Date of Pairing/ Settlement will be available for input.

• When the Mass Pairing Order is run all the SBGs with the selected BP references will be settled with the linked remittance worksheets and the Actual Date of Pairing will be updated as per the date input on the Order

Changed documentation

/http:/sicsdocs/sys_admin_guide/system_parameters/accounting/#balance-pairing

SE-26901 - Increase field size in some informational fields on the cession and cession benefit - Misr Insurance Company #

Aim of function
Increase the field size for Group Scheme name and underwriting cession review comments fields

Business value for customers

The increased field size in the underwriting cession review comments field will allow the customers to capture more information related to the life that is underwritten and add more detailed review comments. 

The increased GS name will allow the customers to capture names of the reinsured groups that exceed 100 characters

System Parameters Affected

None

Existing functionality affected

Group Scheme Name on the Cession Level will now allow upto 200 characters

The Underwriting Cession Review Comments will now allow upto 1000 characters from the earlier 60 characters

Changed documentation

MG & Reserve Orders #

SE-26178 - Offset Period expressed in Month Base Company specific - Aon #

Aim of function

To introduce a new option under Booking Terms i.e. 'MG/UW Specific' for Period Offset expressed in Months for both Multi GAAP & Underwriters Estimates will be available under 'Booking Terms Maintenance' window. 

Period Offset from system parameter Multi GAAP/General should be considered as the default setting if the newly introduced option is left blank.  

Business value for customers

This newly introduced option will enable the user to specify any base company, where they wish to record the period offset in months for Multi GAAP & Underwriters Estimates.

System Parameters Affected

Period Estimate Offset Quarter 

Existing functionality affected

Period Offset from Multi GAAP system parameter will be overwrite when newly introduced period offset is in use. 

Changed documentation

/sicsdocs/sys_admin_guide/sys_admin/booking_terms_maintenance/

SE-26179 - Add ToB Facultative on MG Retrocession Order - Aon #

Aim of function

To enhance the Multi GAAP Retrocession Order, so that users can book Estimates/Accruals on Facultative Business as well, using the Period Estimates on Facultative OCC.

Business value for customers

Automating the booking of Estimates/Accruals on Facultative Business, as we have for the Treaty Business. 

System Parameters Affected

None

Existing functionality affected

The Type of Business for Multi GAAP Retrocession Order.

Changed documentation

SE-21847 - The logic of summing up the ORP details on OCC level - Renaissance Re #

Aim of function

To enable the flow of figures generated through MultiGAAP Retrocession order on Non-Prop ORP to Prop OCC (i.e., linked through PP condition on Non-Prop OCC) and to enable the flow of manual bookings present on 'Non-Prop ORP' to 'Prop OCC' which is linked through PP condition on 'Non-Prop OCC'.

Business value for customers

User can now notice the figures generated through MultiGAAP Retrocession Order also flow to linked 'Prop OCC' as how the manual bookings are transferring as per existing functionality.

User can now notice the Manual bookings present on Non-Prop ORP transfer onto Prop OCC which is linked through PP condition on Non-Prop OCC.

System Parameters Affected

NA

Existing functionality affected

MultiGAAP Retrocession Order.

Changed documentation

SE-20551 - Update ULR & UW Est Supporting Figures upload to use tabular framework - Sirius International Insurance Corporation #

Aim of function
The functions Ultimate Loss Ratio Import & UW Estimates Supporting Figures Import only support .CSV files, they should also support Excel and any other formats supported by the tabular framework.

Business value for customers
Ease of uploading files using the Excel spreadsheets, including generating a template with precise details of the needed fields..

System Parameters Affected
N/A

Existing functionality affected
Ultimate Loss Ratio Import & UW Estimates Supporting Figures Import

Changed documentation

/sicsdocs/sys_admin_guide/periodic_functions/uw_estimates_supporting_figs_import/

Other #

SE-22406 - Generate SOAP API Documentation: Part 4 - DXC #

Aim of function

Generate nearly all of the API documentation from code - we will have a template framework which may include other elements.
Use the XSD as much as possible to ensure maximum visibility

Business value for customers

Provide easily accessible, up to date generated documentation for SOAP webservices for SICS API Server.

System Parameters Affected

None

Existing functionality affected

None

Changed documentation

SE-24384 - Remove remaining DB2 elements from System Admin UX - Triglav #

Aim of function
DB/2 is no longer a supported DBMS platform. However there are remnants of the DB/2 support visible in the UX, which can be confusing.
The DB/2 elements are removed.

Business value for customers
Less confusion when using the system admin functions.

System Parameters Affected
None

Existing functionality affected
Manage Tables

Changed documentation

This report was generated Thu Jun 20 09:29:56 UTC 2024.