SOURCE: EFFISOFT

Effisoft

March 19, 2015 02:13 ET

Ceded Reinsurance System Pays for Itself at Motorists Insurance

Effisoft's WebXL Unifies Data, Boosts Productivity and Compliance, Says ITA Pro Article

DALLAS, TX--(Marketwired - Mar 19, 2015) - Motorists Insurance Group's system for tracking reinsurance claims with Excel and Access was time-consuming and unproductive. And it didn't give management the information it needed promptly, according to an article in the current issue of ITA Pro magazine.

"We had disparate systems and labor-intensive processes," said Tom Brock, assistant vice president, finance, for Motorists. "To ensure accuracy, we maintained a lot of downstream checks and balancing routines that were inefficient."

After an extensive search, Motorists chose Effisoft USA because of its technical knowledge of ceded reinsurance, receptiveness to Motorists' needs and ability to customize its WebXL reinsurance software.

"Effisoft's effort went far beyond the usual," said Will Thorsberg, property/casualty accounting manager. "Their team overcame every obstacle and was always responsive and available."

The solution has lived up to expectations. Senior management now has a greater comfort level with the reinsurance process. "They've definitely taken note of the enhanced controls and increased efficiency," Brock says.

WebXL's capabilities also help Motorists work more effectively with outside parties -- rating agencies, reinsurers, brokers, external auditors and state examiners -- who appreciate the secure and transparent nature of this system.

Motorists now has more sophisticated reinsurance framework that provides increased access to data, increased control, and a superior means of processing and reporting information.

"The investment has already paid for itself," Brock said. "WebXL also improved our risk management capabilities and enabled us to meet the increasingly stringent expectations of our regulatory bodies."

The full article can be read at http://tinyurl.com/q2nodux. ITA Pro is the magazine for insurance IT and business professionals.

Effisoft CEO Joseph Sebbag will be attending the Intercompany Long Term Care Insurance Conference, March 22-25. Email him at jsebbag@effisoft-group.com or call 214-998-2117 to schedule an appointment there and find out how WebXL can help your business.

Dallas-based Effisoft USA (www.effisoftusa.com) is the North American subsidiary of Effisoft, the European leader in ceded and assumed reinsurance software.

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