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Showing posts from March, 2019

SAIBAOnline – Transforming Renewal Management with Advanced Insurance Brokers Software in India

In India, where the insurance market is growing rapidly, leveraging advanced insurance brokers software is crucial for achieving operational efficiency. This software includes a renewal management module, which plays a vital role in the insurance broking industry. Renewal management is a critical component of the software, designed to enhance customer satisfaction consistently. Its primary function is to track policies from their start dates to their expiration dates. Furthermore, it is essential for managing all client-related information effectively. Renewal management must be performed with precision to avoid errors. It is essential to pay close attention to the details of each policy, particularly its expiration date, to ensure timely notifications are sent. This helps maintain client satisfaction and prevents the risk of losing valuable customers. SAIBAOnline’s advanced capabilities excel in this area, automating and optimizing the renewal process to accuracy and enhance customer ...

UK Seeks at Keeping Reinsurance Market Competitive with the Usage of New ILS Rules

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Reinsurance is a global line of work of reinsuring insurance policies using various reinsurance broking management solutions such that the direct insurers oversee their risks and also limit their liabilities. Also, it is often seen that the reinsurers usually use reinsurance softwares to manage their own policy risks or to acquire or generate profit by insuring the reinsured policies. This phenomenon is termed as retrocession. In certain geographies, risks can be minimized by proliferating coverage across a wide market. With the commencement of new integrated ILS(Insurance Linked Security) rules, UK has now been pursuing to keep the reinsurance market quite competitive hence, seeking to outrage the others in the world. UK has always tried to be at the forefront of the global reinsurance markets; gratified by the new tax regimes for Insurance Linked Securities. The government believes that the investment income is more likely to rise as the scope of its economy has become quite c...