Integrated reinsurance systems offer functionality across all processes, communicating with core systems and databases (policy administration, claims, finance and accounting).Policy administration systems often have some level of reinsurance functionality, especially for contract administration premium cessions and claims.
Point solutions address a specific part of a process, for example data mining and analysis within the "reporting, analysis and program design" process. Business process outsourcing involves contracting with a third party for some or most of the reinsurance processes.
Components are enterprise-level solutions that cedents can use to wrap and extend legacy reinsurance applications. Components include document management systems, business process management and business rules engines.
Source: Celent Communications Inc.
