Prima Solutions-Effisoft Group, an insurtech firm that designs software for insurance and reinsurance professionals, has released an updated version of its WebXL solution, which optimises ceded property-casualty and life reinsurance management.
WebXL 4.3 includes several new features to help reinsurers deal with increased natural disaster occurrence, including improved management of the hours clause and an automated claim-linkage process for catastrophes.
“In WebXL, claims and events are defined very precisely because an hour can be very expensive for an event like Hurricane Michael. This can impact cedants considerably,” said Grégory Moliner, Chief Executive Officer (CEO) of Effisoft USA, the US subsidiary in Coral Gables, Florida.
The new release also makes it possible to easily amend life reinsurance contracts and enables users to record changes in life insurance contract rates via different variables.
“Each new version of WebXL strengthens our solution, especially the components dedicated to life,” said Julien Victor, CEO of Prima Solutions-Effisoft Group.
“The merger with Prima Solutions reinforced these efforts; in 2017, Prima Solutions expanded on its existing non-life offerings to provide since 2017 a comprehensive solution for life insurers,” he added.
Prima Solutions and Effisoft completed merger deal in December 2018 as part of a growth strategy to accelerate their development in the property and casualty (P&C), health and personal protection re/insurance markets.
