Business Process Outsourcing

Business Process Outsourcing Case Studies

Medium Sized US Direct Writer Migrates Ceded Reinsurance Administration to LOGiQ³'s BPO Solution

LOGiQ³ created its Business Process Outsourcing (BPO) solution in July 2008 in response to a need in the marketplace for efficient management of ceded reinsurance. The solution leverages knowledgeable and experienced staff to implement efficient and controlled business processes while leveraging the benefits of the TAI system, a reinsurance system with a proven brand in the marketplace.

LOGiQ³ was approached by a medium sized US direct writer, upon the completion of an administration audit of one of its blocks of business, to implement a reinsurance back-office solution. Three blocks of business were targeted for transition, with all blocks being administered on different platforms.

In three months LOGiQ³ was able to efficiently migrate the first block of business into its environment. Processes were designed and built to client specifications while maintaining the highest degree of customer service, both to the medium sized US direct writer as well as its reinsurance partners. Reinsurance data was migrated successfully, with specific attention to compliance with the reinsurance treaty and best business practices.

The medium sized US direct writer entails full administration of ceded reinsurance treaties, including billing and data management, as well as claims processing. Accounting and Treasury functions are carried out on the client's behalf with consideration to both the client's internal business processes and external accounting and audit standards.

Data Delivery

A key part of the BPO Solution is the secure transmission of data to the client and key business partners. The LOGiQ³ hub facilitates the efficient transfer of data to the client's internal business stakeholders and business partners through a secure web interface. This vehicle is also used to provide the medium sized US direct writer with accurate administrative and claims reporting in a completely secure and paperless manner.

Management Reporting

The next phase of development will provide the company with a flexible and integrated look into all of its reinsurance blocks of business through a series of reports and dashboards. The solution will enable meaningful and flexible reporting of KPIs, financial performance and emerging trends in the company's reinsurance portfolio.