DALLAS, TX--(Marketwired - Apr 30, 2014) - Insurance companies that aren't using specialized software to track their reinsurance placements run growing financial and regulatory risks, says Joseph Sebbag, CEO of Effisoft USA.
Risks include claims leakage, poor management of recoverables and lack of business intelligence capabilities and many others, he says.
"More insurers realize that managing reinsurance with a spreadsheet no longer works," he said. "Reinsurance administration has become so sophisticated that using spreadsheets and manual processes is no longer sustainable."
Effisoft's WebXL reinsurance software is a proven and recognized solution that has withstood the test of time for 20 years as well as the rigors of real-world conditions with more than 1,000 daily users worldwide.
Effisoft will demonstrate WebXL capabilities at the Insurance Accounting & Systems Association (IASA) annual conference in Indianapolis, June 8 - 11, booth 1235.
Attendees can sign up for a 20-minute overview demonstration. They can also register for a tailored demonstration by providing scenarios or test cases by May 26. Please contact firstname.lastname@example.org to sign up.
Read Sebbag's article on reducing risk and improving ceded reinsurance management published in Carrier Management and Insurance Thought Leadership at http://tinyurl.com/nyhx3b5.
Effisoft USA (www.effisoftusa.com) is the North American division of Effisoft, founded in 1989 as an independent, expanding, proactive company that respects its commitments towards its clients. It is committed to improving its products and services to provide impeccable support to an increasingly diversified and demanding market. Based in Paris, the worldwide company has more than 300 clients in five continents and 17 countries. A 99-second video about WebXL is online at www.effisoftusa.com/index.php/Products/webxl.html.