WebXL

The WebXL reinsurance solution was initially developed in Europe with precise analysis of the all the difficulties encountered by businesses in the Re-Insurance market. Indeed, the development and implementation of a complete reinsurance information system remains a true challenge today, and WebXL is an innovative package capable of managing all areas of the reinsurance process.



The WebXL reinsurance solution was initially developed in Europe with precise analysis of the all the difficulties encountered
by businesses in the Re-Insurance market. Indeed, the development and implementation of a complete reinsurance information system remains a true challenge today, and WebXL is an innovative package capable of managing all areas of the reinsurance process.

WebXL mainly:

  • responds to the necessity to automate basic operations (automatic reinsurance calculations, connection of the reinsurance information system to the Insurer’s systems).
  • increases the reinsurance reactivity, by rapid distribution of coherent information within a complete, open and flexible information system.

Cardinal identified a lack of highly specialist Re-Insurance software in Southern Africa and thereafter embarked on a journey to find and partner with an international specialist in this field, whose solutions would complement its CIMS policy and claims administration platform, rather than develop its own – two specialists are better than none! Cardinal and Effisoft partnered in a joint venture where Cardinal represents, implements and supports WebXL, and is Effisoft’s representation and partner for Sub-Saharan Africa.

What is WebXL?

Within 10 years, WebXL has become a powerful software package developed by EffiSoft allowing the processing

of all reinsurance operations, both front and back-office, for Insurers (Cedants), reinsurance brokers and reinsurers. WebXL is web based and offers all intervening parties easy means of exchanging information, whether amongst their group or with their different partners. Today, over 100 of the largest insurance groups, not only in Europe, but globally use WebXL for their comprehensive Re-Insurance requirements.

WebXL offers the following features, as either a standalone system or interfaced real-time with the CIMS administration platform.

Reinsurance contract management

WebXL is capable of managing the cessions, the active R/I and the reinsurance brokerage operations for all cover types (quota-shares, surplus, stop-loss, excess of loss, treaties, facultative), in Life or Non-Life.

Rapid entry of technical elements

  • Policies, – Premiums, – Entry of technical accounts received from Cedants.
  • Claims and events management
  • Accounting operations recording
  • Complete realisation of reinsurance analytical accounting
  • Follow-up per product, – Guarantees, – Profit centre, – Distribution network
  • The automatic generation of accounts and bordereaux
  • They are obtained from directly calculated origin bases or within the context of automatic retrocessions of accepted technical elements. These elements are sent to the Reinsurers and the Brokers.
  • Statistics realisation
  • Information exchanges

On a technical level, WebXL was developed, from the start, to facilitate the company’s internal and external data exchanges. 
However, WebXL is much more
than a powerful database designed for your own needs. The software is available in an Internet and/or secure intranet environment, allowing all your partners
to supply or access the information.

Modularity

WebXL is an aggregate of complementary modules progressively implemented according to your needs.
Some users will first consider the management of recent underwriting exercises and therefore use all modules; others will initially implement the contractual and the technical accounting modules and later integrate the third party accounts management and the implementation of statistical tools.
For companies with simple reinsurance processes, Effisoft developed a simplified version of WebXL. “WebXL Light” which comprises basic modules and fewer functions.
It is the perfect alternative for companies with limited budgets to automate their reinsurance management.

Customisation

WebXL constitutes a fully functional solution on an open technical architecture. As such, the solution can be entirely bespoke:

  • It is possible to use the entire solution by accessing intranet/Internet (WebXL may thus be easily deployed   over multiple sites, at home and abroad)
  • Implementation of internal reports depending on user needs
  • Integration depending on the client’s own needs (observation axis sought, types of treaties managed, functions used)
  • Possibility to bespoke the calculation engines and the accounting module to integrate your needs (estimates, reserves…)

The aim of WebXL software is to integrate itself into your existing information system. The interface allows for easy data transfer both upstream and downstream with any existing information system

  • Import of policies, premiums, claims from Cedant production systems
  • Interface with CRM tool for a Broker or a Reinsurer
  • Export towards general accounting or treasury systems
  • Export towards data warehouses

Intuitive yet simple to use

WebXL is both intuitive and user-friendly. It benefits from the latest technical improvements in terms of users’ interfaces, ergonomics and use of internet technologies.
For example, specific tools permit the searching, analysis and/or export of information in the same process. All data creation or modifications are completed with the help of specific tools that guide the user and reduce training times. In addition, as with any website, multiple browsing possibilities exist within the application.

Continuous improvement

The evolution of WebXL is driven by the experience of a wide range of reinsurance professionals. 
WebXL functions evolve constantly due to ideas and input from our clients. 
Our references and WebXL functions reflect this and make WebXL the leading French software with regards to reinsurance management, from a technical, commercial or accounting standpoint.
Historic data integration is often a significant operation when implementing a reinsurance information system. In order to minimise this we have created a modular product, therefore allowing clients to progressively master the tool whilst undertaking daily tasks.

Additional features of the application

WebXL can be installed as a unique information system in a reinsurance department with:

  • Management of different reinsurance partners, internal (other components of an insurance group or a Broker, other departments of the company) or external (Cedants, Reinsurers, Brokers)
  • Formalisation of complex reinsurance processes
  • Automation of all reinsurance operations

According to Acord Reinsurance XML Standards, you may exchange contractual and accounting data for all reinsurance types and thus better communicate with your third parties (Reinsurers, Brokers, Cedants) via WebXL.
 www.acord.org

To request a demo or to find out more about WebXL, please contact us on 083 310 5340 or complete the form below.

Cardinal Website - Request WebXL Demo

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