The Motorists Insurance Group now has a centralized repository for all reinsurance data, WebXL reinsurance software from Effisoft. Previously, the equivalent of three full-time employees were managing Motorists’ prior reinsurance program, now 1.5 full-time employees handle the management via WebXL.

As Motorists ceded reinsurance program became more complex, its system for tracking reinsurance claims became more time consuming and less productive, the insurer said, and the carrier wanted increased access to reinsurance data, stronger controls and a better way to process, report and analyze information.

WebXL’s reporting tools help the insurer isolate claim experiences, identify weather trends and severity, and help Motorists work with rating agencies, reinsurers, brokers, external auditors and state examiners, Motorists said.

Customizations included aggregate excess calculations, new catastrophe management, and improved cash call function. Effisoft also built interfaces to the COSMO claims system used by Motorists’ main operating carriers. WebXL now will administer all ceded reinsurance for Motorists’ personal P&C, commercial P&C, workers’ compensation, catastrophe, and boiler and machinery claims. Effisoft completed the development in three months, and then led a training session for Motorists’ staff.

“Effisoft USA thoroughly understood our needs and exhibited a level of technical knowledge that differentiated it from the competition,” said Tom Brock, AVP, finance, who added that finding crucial information fast is a benefit. “If we’re facing a situation where a reinsurer is going through insolvency or poses a notable credit risk, we need to assess our exposure. Now we can get our hands on that information so much easier and faster.”

 

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