“Expert reinsurance asset recovery is a critical element of any efficient cash management strategy. Uncollected reinsurance claims are an invisible asset of the company and merit appropriate handling”
Reinsurance usually represents one of the largest and most valued assets for insurance companies. However, the underwriting, claims and invested asset functions usually get most of the management attention because they are the primary points of interaction with customers and other key stakeholders.
Even though it is a critical asset, reinsurance is often not managed in the most efficient and effective manner possible – financially or operationally. Many factors contribute to this, including insufficient reinsurance expertise; inadequate automation or financial reporting mechanisms; ineffective processes and controls; or simply a lack of internal resources.
We can help companies more efficiently process their reinsurance transactions through short-term consulting engagements; or we can administer and process reinsurance transactions for customers on an ongoing basis through outsource engagements.
Reinsurance Recoveries requires not only a broad understanding of the marketplace but also sophisticated organisation and excellent communication with all parties.
Risk Resolutions ensure continuing communication with our clients at every stage of the debt recovery process.
Our reinsurance services include:
- Monitoring and agreement of Reinsurance debt.
- Recovery of asset from US, London and other international reinsurers and brokers.
- Resolution of disputes via collection, mediation, arbitration, debt trading or commutation.
- Capability to purchase discontinued reinsurance receivables focusing on international insolvent and solvent contentious debt.
- Recoverable identification and collection services.
- Application and reconciliation of unapplied cash to reinsurance accounts.
As a result of our asset recovery services, our customers receive the following benefits:
- Accelerated cash flow.
- Enhanced liquidity.
- Reduced loss costs
- Improved management reporting.
- Improvement to balance sheet.
- Removal of uncertainty and provisions of administrative savings.