Rapid implementation of a core reinsurance system - Qianhai Reinsurance

When Qianhai Reinsurance Co., Ltd., received approval from the China Insurance Regulatory Commission (CIRC) in 2016 to operate, it became the fourth local reinsurer in China. With a year to prepare for the start of operations, Qianhai Re had to build its business from the ground up amid tight deadlines. It had to pass IT system reviews by the Chinese government and navigate ever-changing domestic and international requirements and regulations. Other challenges: As a startup, many employees were inexperienced, and resources were limited.