Setting up a reporting structure to track the reinsurance results at group level
Solve the mismatch between insurance and reinsurance claims bookings
Increased efficiency of the closing process and better view on reinsurance profitability
The client and TriFinance have a sound partnership which has been built through many years of collaboration and very good track records. TriFinance supported the client in solving many challenges in the past and keeps doing it today with a constant focus on quality and value delivery.
We have supported the client in many challenges and we continue to do so actively today with the desire to constantly deliver the expected value and quality.
Before the assignment, insurance claims were booked when they occurred but reinsurance claims were only booked at the end of the year. This created a mismatch in P&L and the client decided that a monthly view on the reinsurance results was needed. It was my job to set up such a reporting framework.
After successfully setting up a reporting structure, I performed the monthly reinsurance closing, and I increased the efficiency of the process to ensure higher data quality and faster delivery. I documented the monthly closing process so that it could easily be taken up internally. Additionally, I performed a risk analysis on the reinsurance results and created a set of formal controls to ensure risk was successfully mitigated. Finally, I was involved in regulatory reporting towards the National Bank, the regulator.
"Over a period of seven months, I gained strong insights into numerous domains. Setting up a reporting structure from scratch strongly increased my reporting and financial analysis skills. "Robin Welleman - Project Consultant
Over a period of seven months, I gained strong insights into numerous domains. Setting up a reporting structure from scratch strongly increased my reporting and financial analysis skills.
It was very rewarding to be able to completely redesign the reinsurance closing process. This experience gave a boost on my process management skills. Working within the risk team, I was confronted with risk management on a daily basis, ranging from reinsurance risk to regulatory risk management.
For more info, you can contact Robin Welleman @ (email@example.com or 0477 27 20 35).
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