Full life-cycle coverage
SICS is a leading end-to-end software platform, meeting the administration needs of both reinsurers and insurers. SICS supports all lines of business whether P&C or life, and does so for both assumed and ceded reinsurance administration. It provides comprehensive automation across the complete reinsurance management life-cycle, for insurer cession management and for a reinsurer’s assumed business and retrocessions.
SICS supports all aspects of a reinsurer’s processing needs, from acquiring new business, through renewals management and accounting, to retrocession. Insurers’ outwards cession administration is equally supported, and claims processing and recoveries capabilities meet the needs of insurers and reinsurers across the whole reinsurance value chain.
Extensive automation of many aspects of contract and claims administration and associated accounting transactions save time and reduce operational costs, while also providing all the activity tracking and reporting necessary to meet regulatory requirements. SICS also provides internal workflow, enabling a business to tailor processes and approvals. Its integrated business intelligence suite will give you complete and accurate real-time information for analysis and informed decision-making.
SICS is provided with a wide range of out-of-the-box integration capabilities including an extensive set of web services and an ACORD-compliant e-Messaging component, enabling it to be readily integrated within any systems landscape. It is a fully multi-company, multi-country and multi-currency solution, with a powerful multi-GAAP component. SICS is used by more than 80 reinsurance and insurance customers globally, and supports multi-language environments.