The Task Management Desktop is the main starting point for following up tasks. The user can see all active tasks where (s)he is the actual owner or the potential owner. The “My Tasks” element contains four folders: Ready- Tasks which are not yet reserved by any user but which the current user can own (because (s)he is among the potential owners of the task Reserved- Tasks which are reserved by the current user (i. ...
The Section Prompt # When running reports having objects coming from the Reporting table you are asked to enter a section level. The Reporting table consists primarily of information coming from the Business, Insured Period, Classification (Scope of Cover, SOC), Life Cycle Phase and Partner Information areas. This means that when selecting objects coming from any of these areas, the Reporting table is accessed and this prompt occurs. ...
Underwriter’s Estimates # The Underwriter Estimates enables you to enter your own estimated figures for premiums,deductions claims etc. on a business basis. The fields are user-defined. These ‘user-defined’ fields, called Estimation Items, are maintained in the System Parameters Maintenance folder. The Estimation Items created in the Underwriter Estimates are the base for analysing the business as follows: Analyse the technical profitability of the business, and to be able to compare the underwriter estimates from one underwriting year to another. ...
Find Insurable Object Groups # SICS lets you search for accumulation groups and risk groups that have been created in the Accumulation Group window and the Risk Group window. (Both of these windows are accessed on the Navigation bar of the Insurable Object Properties window.) | Insurable Object Groups icon | Click the Insurable Object Groups icon in the Insurable Object folder on the SICS desktop to see the Find: Insurable Object Groups window. ...
The Period Estimate functionality on Proportional Treaty Retrocessionaires depends on Multi GAAP system parameter Period Estimation Calculation on Prop Outward Contracts A: When system parameter Period Estimation Calculation on Prop Outward Contracts is cleared The Period Estimate tab on a Proportional treaty Retrocessionaire looks and works much like the one on a Proportional OCC. The only difference is that the estimates are collected from the business ledger of the Retrocessionaire. Figures marked ‘As Booking’ are shown on this tab. ...
When selecting the estimation currencies you usually select the main currency from your base parameters. In most cases this is the EPI. But you also have to be aware of the (future) accounted figures. There is no currency conversion on the Multi GAAP Accounting order. But it is possible to select a check box on the order screen that enables the order to calculate accruals for all currencies. This means that if a currency does not have any estimated values, the calculated accruals for a non-estimated currency will be equal to the technical bookings for that currency. ...
Underwriters most often see reinsurance contracts from the same cedent and covering the same portfolio as one program. What type of SICS program your company chooses to use, reinsurance program or cedent’s program, depends on your company’s requirements: Some prefer to maintain most information on the program level to have a strict control of that the belonging treaties are synchronized with the program. If this is a priority, please see the chapter Design Reinsurance Program. ...
eMessaging is a long term replacement for the original SICS EDI interfaces for LIMNET (London Market) and JV (predominantly continental Europe). It consolidates the best of both of these earlier systems into one powerful common interface for processing messages. It uses the xml messages designed by ACORD for Reinsurance and Large Commercial (RLC), that have become de-facto standard for electronic messages in this field. Such messages can be loaded directly into SICS without any external parsing. ...
When a previous record of the partner does not exist, SICS lets you register the new partner and detailed information about the company. Record a Business Partner only # Double-click the Business Partner icon on the Partners folder on the desktop. You see the Find: Business Partner window Click ‘Create New’ button, or select New on the pop-up menu. You see the Create Business Partner window. Enter relevant information and click ‘OK’. ...
When the type of participation is a “Per Event” cover, and a Risk Warranty has notbeen activated, all claims are valid for the protection, regardless of their risk/event indicator. Recoveries are calculated per single claim, or risk claim, or Headline Loss.