| Share Conditions button | Share condition in SICS represents the conditions relating to the portion (often called line) a reinsurer participates with in a contract. Shares are some of the most central terms and conditions in an agreement and are used in numerous administrative functions in a company. This is also the case in SICS, where shares are used extensively in all from calculation of your part of premiums and claims to calculation of retroceded percents. ...
In addition to the free text possibilities in the various areas of a contract, you may capture a collection of notes with the contract. Each note is traceable with information like the person creating the note and the date it was created. Add Business Signature Note # Add a new signature note to a contract’s list of notes. Open the contract for which you want to add a Signature Note. ...
In order to perform calculations and to distribute the bookings to the Retrocessionaire Participations (RP’s) of a Proportional Outward Cedent’s Contract (OCC), you must run the Retrocession Calculation Order. There are two main types of calculations; Calculations performed without having any business conditions defined (original calculations), for example calculation of Premium and Claims Calculations performed according to the definition of the business conditions, for example Commission, Reserve and Portfolio etc. ...
Create Recovery Calculation Order for XL Fac # The Recovery Calculation Order for XL Fac is started from the Assumed Business' Claims List or from the Find: Accounting Order window. Claims List: Select Create Recovery Order options from the pop-up menu. The Insured Periods window appears showing all Insured Periods of the Assumed Business. If you select one ore more Insured Periods and select Create Recovery Calculation Order, you see the Create Recovery Calculation Order for XL Fac window including all selected Insured Periods in the Assumed Business List. ...
Retrocession Business Reporting # Itis possible in retrocession reporting to extract data that shows you the whole chain from Assumed Business to the Placed Business. If any object under the Retrocession Structure class is combined with any other class, for example Accounting Information, the report unfortunately returns aggregated accounting figures. The Retrocession Structure class should therefore be used in isolation from the other classes above it. Creating reports with accounting information for retroceded businesses refer to section_Ordinary Retrocession Accounting Information on page 20-26_. ...
Introduction # One of the key features of the eMessaging module is the increased control offered in the way that validation rules are applied to messages received. The full power of the eMessaging module can only be appreciated if you have a basic understanding of how the rules work, and this section aims to give you this. The system administrator is responsible for the management of the rules, and there are more comprehensive instructions in the System Administration Guide. ...
SICS lets you calculate and book three types of premium reserves automatically: Original Premium Reserves, Financial Premium Reservesand Unearned Premium Reserves. Each of these functions calculates and books the respective amounts according to its defined rules. The result of the Automatic Booking of Premium Reserves are booked with Entry Codes defined in the System Parameter Accounting/Entry Codes/Accounting Function (refer to the Accounting Functions listed below). The Accounting Function used for the calculations depends on the type of reserve orders you are running: ...
If you want the SICS to calculate the Deductions, the conditions must be defined. (Ref. chapter Handle Deduction Conditions.). Conditions may be equal for all Retrocessionaire Participations (RP’s) or one or more of the RP’s may have special Deduction conditions entered. Calculate Commission # Commission, if defined, is calculated whenever you run the Retrocession Calculation order. Available calculation methods are; None No calculation of Commission is performed. Original All bookings with Entry Codes within the Entry Code Sub Category Original Commission are multiplied with the Share of the RP. ...
Find Business Partner # The find business partner window is described in a separate chapter in the User Guide. You can search for partners using eMessaging agency and party identifier pair. This can be useful if a pair you are trying to add to a partner is rejected because it is already assigned to another partner. View eMessaging Details # eMessaging details are accessed from the View Business partner window. ...
Creating a Local Variable # Within your report document you have the possibility to create local variables (=objects) containing a formula based on any other information existing within the report. You can access the Local Variable Editor in two ways: Right-mouse click in the Report Manager box and select New Variable from the menu (only an option in Desktop Intelligence). Select Variables from the Data menu, and then click the Add button. ...