Property and casualty re/insurer AmTrust Financial Services has signed an agreement with Policy Claim Management International (PCMI) Corporation to use its integrated software solutions for AmTrust’s reinsurance business.
AmTrust plans to implement the Policy Claim and Reporting Solutions (PCRS) – Reinsurance Module from PCMI, which it says will provide its clients with a robust reporting method for their reinsurance business.
The online solutions will allow for efficient access to information and reports, including improved cession statements, drill down capability to obtain underlying contract and claim detail, and performance reports with analytical data to evaluate profitability and identify key risk factors.
The reinsurance module also provides secure access to trust account information and storage for reinsurance agreements in one location, and supports all types of reinsurance structures.
“Most automobile dealers have reinsurance programs, which they view as significant profit centers for their businesses,” said Jackie Banks, Vice President of Reinsurance for AmTrust’s Specialty Risk Division.
“This technology supports these important reinsurance programs by providing dealers with a comprehensive tool that will let them see the results of their reinsurance business, as well as providing relevant information that will help manage and maximize profitability,” Banks continued.
“The compilation and calculation of information can often take time and at AmTrust we are continually looking for ways to use technology to improve processes and ultimately risk management. We look forward to leveraging PCMI’s integrated software solution to provide a quicker and improved process for reinsurance.”
Mark Nagelvoort, President & Chief Executive Officer (CEO) of PCMI Corporation, also commented: “Dealers today expect to have immediate and transparent access to key financial data from their providers. AmTrust’s adoption of our PCRS platform highlights their commitment to supporting dealers.”
“PCRS allows dealers to monitor their portfolios and track key performance information to maximize their profitability,” he added. “We look forward to expanding our relationship with AmTrust,”
PCMI offers a variety of solutions to its partners for the administration of F&I products, service contracts, and extended warranties.
