Return to Homepage

Tech Directory Product Detail

SunGard iWorks ProCede Advantage (Reinsurance Management Solution)

Product Description:

iWORKS ProCede is an excess of loss/pro-rata ceded reinsurance system designed to integrate excess of loss and pro rata processing for both treaty and facultative coverage. ProCede handles inward business functions (underwriting and Claims), complex ceded reinsurance functions, automated ceding process, related accounting functions as well as organization and reporting functions. Additionally, while ProCede can run stand-alone, many carriers prefer to integrate ProCede with their direct system. This requires a minimum amount of information on policies and claims to be bridged to ProCede along with inward premium and loss transactions.
iWORKS ProCede Advantage is a ceded, assumed, and retrocessional reinsurance administration solution supporting general insurance (P&C) and professional reinsurance carriers. ProCede Advantage handles premiums and losses with reinsurers and tracks receivables and payables. ProCede Advantage also helps deliver accounting, credit control, and the production of management and regulatory reports for audit requirements and compliance.