Management

Prima XL

(formerly WebXL)

Cloud Platform for Reinsurance Management

Prima XL

The cloud-based, powerful and intuitive Prima XL (formerly WebXL) is a cloud platform for reinsurance management that collects, centralizes, and analyzes all data for insurers, reinsurers, and brokers.


Prima XL tracks all the information related to your reinsurance policies (treaties and facultative policies, claims, incidents, accounting data, technical data, auxiliary data, financial data, and more). You can manage all of your policies, from their underwriting to their switch and renewals.

Prima XL is a flexible solution tailored to international organizations using multiple currencies and multiple GAAP requirements.

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Prima XL

Prima XL (former WebXL) offered an off-the-shelf host system that was configurable to meet the majority of our requirements. Prima Solutions Group’s team was willing to partner with us to meet several of our key requirements. And Prima XL offered an excellent user interface and experience.


Prima XL

Overview of modules

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Prima XL

contract
Claims
Accounting
Reporting

Contract

End-to-end management of your contract life cycle

The Policy module in Prima XL (formerly WebXL) allows you to easily and efficiently manage all the steps in the life of a reinsurance policy, from its creation, negotiation, and signature to the run-off or switch.

You gain speed and fluidity in the management of your reinsurance policies.

  1. Centralized policies

    With Prima XL, all of your reinsurance policies are in one place within the platform for greater visibility and security in your data processing.
  2. Management for all types of contracts

    Prima XL handles all types of contracts, including treaties, facultative reinsurance, proportional and non-proportional contracts, excess loss, stop loss, quota share, and more. You can navigate from product to product all in one tool, for fast and flexible management of your portfolios.
  3. Management of all lines of business

    Prima XL lets you manage all of your life and non-life insurance activities.
  4. 360° vision

    With Prima XL, you have at your disposal a complete, extended record of the contractual terms for your non-proportional and proportional contracts. This allows you to quickly and easily view a wide variety of information, like the assignment date, the assignment limit or event limit for quota shares, the limit amount, the number of retention limits, and so on.
  5. Rapid renewal

    Handle your contrat renewals efficiently and save considerable time by copying an existing contract with its contractual terms from the previous year.

Prima XL

Contract
Claims
Accounting
Reporting

Claims

The efficient system for managing claims and events in reinsurance.

The Claims module in Prima XL (formerly WebXL) allows you to manage claims and events easily in a specific module. This module shares and distributes all claims information across the entire Prima XL platform.

      1. Simple management of your claim status

        Easily view and update the status of your claims at any time, right within the platform.
      2. Easy link between claims and events

        Centralize all of your claims and events within a single platform. With the dates, times, and a few clicks, you can attach all of your claims to a single event
      3. Optimization of retroceded amounts

        Prima XL (formerly WebXL) automatically determines and updates the best period for optimizing an event’s retroceded amounts by introducing the notion of a time clause involving the duration of an event, for the event treaty. The time range is then optimized to obtain the best possible collection by reinsurers.
      4. Managing multiple ceding companies

        With Prima XL, you can link events and claims to multiple ceding companies. You gain speed and fluidity in the management of your claims and events.

Prima XL

Contract
Claims
Accounting
Reporting

Accounting

Automated management of technical and financial accounting for reinsurance

The Technical and Financial Accounting module in Prima XL (formerly WebXL) lets you monitor accounts and handle the financial accounting.

Depending on your information system, Prima XL can be used as an auxiliary reinsurance accounting system or as a provider of accounting entries.

In addition, Prima XL allows you to quickly produce all of your technical accounts for your partners on a periodic and recurring basis.

      1. Technical account automation

        Automate the production of your technical accounts for your partners—ceding companies, reinsurers, and brokers—at the frequency you want.
      2. Powerful calculation engine

        The calculation engine in Prima XL (formerly WebXL) allows you to automatically generate and output all of your technical accounts and premium and claims slips. In just a few clicks, you can quickly generate all of the outgoing accounts. The powerful calculation engine takes all of the reinsurance terms into account.
      3. Cumulative overview

        All of the technical accounting functionalities yield a cumulative overview from the start.
      4. Management of multiple reinsurance accounts

        For efficient management, you can simultaneously generate different types of accounts or accounts in bulk as part of a closing. Prima XL supports all account types, in acceptance and retrocession, including estimated accounts, final accounts, provisional premium accounts, and cash call accounts.

Prima XL

Contract
Claims
Accounting
Reporting

Reporting

Powerful analysis of reinsurance data

The area for technical and/or accounting reporting tools in Prima XL (formerly WebXL) gives you quick and easy access to turnkey and customizable reporting modules.

These tools make it possible to produce statistics along a large number of observation axes and to define and output reports.

  1. Turnkey and customizable reporting

    The Statistical Reports module in Prima XL (formerly WebXL) provides you with access to all of your accounting reports, from statement accounting to provisional acceptance and retrocession premiums and commissions. The Dynamic Reports module lets you track your balance sheet and income statement, along with more targeted analyses, such as changes in a portfolio over the years. It is also possible to connect third-party tools, such as Business Object.
  2. Informed decision-making

    The reporting modules offer a wide range of criteria for breaking down and breaking apart data. You can add all the areas of analysis you want. In addition, the reports show aggregated data, and you can use the drill-down features for a more in-depth analysis.
  3. Simplified communication

    The easy-to-use reporting modules also offer a wide range of output formats. You can prepare and save as many reports as you want, in whatever format best suits how the results will be communicated.