The Excess of Loss Claim Recovery Management 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. The module then calculates the paid and outstanding outward recoveries, including an analysis of each recovery amount. It also calculates paid and outstanding reinstatement premiums.

The claim attachment and recovery calculation rules for a contract can be varied by the use of clauses. They mirror the clauses included in the contract wording, such as interlock and various franchises.

It allows for collection notes to be printed at either broker or reinsurer level. Each note comprises a summary header sheet, a claims schedule, the reinstatement premium calculations and supplementary sheets as appropriate, such as interlock calculations.  Collection notes may be sent directly to a printer, or to an RTF (rich text format) file, which may then be printed by Microsoft Word or converted into PDF (protected data format).

Facilities are provided to allow individual collection notes to be suppressed to cater for instances where the due amount is too small or an event is in dispute. For collections, the due amounts for individual currencies may be suppressed. In all cases, a suppressed amount causes the prior recovery to be reinstated so that it will be collectable in the next recovery run.

Collection notes are automatically saved within a history file so that they are available for reprinting on request in the future.

Feedback is created for transfer to the Credit Control module as well as to external systems. The feedback comprises two files: one contains accrual data, which is based on all collections and advices being issued; the other contains rendered data, which is based on collections prepared for the final print.