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| The Excess of Loss - Claim Recovery Management (CRM) module enables inward claim data to be collected and presented to the outward excess of loss contracts. Claims are automatically attached to contracts according to the date of loss and statistical coding. |
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Key features include:- Claims maintenance including capture of all inward event and claims data with extensive statistical analysis.
- Automated recovery run:
- Processing of all claims against all X/L contracts to determine if a recovery is possible.
- All back-up arrangements are included.
- Calculation of reinstatement premium and burning cost amounts.
- Calculation of recoveries from reinstatement premium/burning cost protections.
- Calculation of apportionment by statistical analysis, inwards policy and claim reference.
- Audit trail provision, including FGU, benefit, outward claim, outstanding reinstatement.
- IBNR and “what-if” processing
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