Reinsurance Management
Keep reinsurance connected to the claim
Manage reinsurance recoveries as part of the claims workflow, not as a separate process. Simfuni connects recoveries, provisions and claim payments, giving claims and finance teams a clear view of the insurer's position from assessment through to settlement.
Benefits
Manage recoveries with greater visibility and control
Reinsurance can add another layer of complexity to an already complex claim. Simfuni keeps recovery activity connected to the underlying claim and benefit, helping teams understand what's outstanding, maintain appropriate payment controls and reduce manual tracking.
See the complete financial position
View provisions, expected recoveries and claim payments together, giving teams a clearer picture of the insurer's net liability.
Strengthen payment control
Hold claim payments where recovery is required, ensuring the appropriate recovery has been received before the payment progresses for approval.
Reduce manual tracking
Manage recoveries against the relevant claim and benefit instead of relying on spreadsheets or separate processes outside the claims workflow.
Maintain a clear audit trail
Record recoveries, receipts and allocations against the claim so teams can see what was recovered, when it was received and where it was applied.
Key capabilities
Recovery and payment managed together
Simfuni connects reinsurance activity directly to claims financials and payment workflows, helping claims and finance teams manage recoveries without losing sight of the underlying customer outcome.
Benefit-level reinsurance configuration
Configure individual benefits to require reinsurance recovery as part of the claims payment process.
Reinsurance data capture
Record recoveries directly against the relevant claim and benefit, keeping reinsurance activity connected to the underlying liability.
Individual and bulk receipting
Receipt recoveries individually or allocate incoming amounts across multiple claims and policies through the payment-matching process.
Recovery-linked claim payments
Automatically hold applicable claim payments in an awaiting-recovery state until the required recovery has been received.
Provisions and net liability
Reflect recovered amounts within the claims provisions summary, giving teams visibility of the insurer's net position.
Reporting and audit visibility
Maintain a complete record of recovery allocations and activity for finance, operational oversight and audit purposes.
How it works
Recovery built into the claims payment workflow
When reinsurance recovery is required, Simfuni manages it as part of the claim rather than as a separate finance process. The expected recovery remains visible alongside the provision, payment controls ensure the claim doesn't progress prematurely, and receipting the recovery allows the payment workflow to continue.
Identify when recovery is required
Reinsurance requirements can be configured at benefit level. When a claim is assessed and a payment is created for an applicable benefit, Simfuni identifies that recovery is required and places the payment into an awaiting-recovery state.
- Benefit-level reinsurance configuration
- Recovery requirement linked to the claim
- Claim payment automatically held
- Recovery status visible to claims and finance teams
Receipt and allocate the recovery
When reinsurance funds are received, they can be matched directly to the relevant claim. Recoveries can be receipted individually or allocated in bulk across multiple claims and policies, with each allocation recorded against the underlying claim.
- Individual recovery receipting
- Bulk allocation across claims and policies
- Recovery matched to the relevant claim and benefit
- Complete record of each allocation
Progress the claim with the financial position clear
Once the required recovery has been receipted, the claim payment can progress for finance approval. The recovered amount is reflected alongside the claim provision, giving teams a clear view of the gross claim cost, recovery and resulting net liability.
- Payment released for approval once recovery is received
- Recovered amounts reflected in provisions
- Clear visibility of net liability
- Full audit history from recovery through to claim payment