Recalculation of the risk premium
With XLife you can recalculate risk premiums and cede risk under ‘non-original conditions’. This module has been tailored specifically for life insurers but non-life companies can also take advantage of XLife with those risk branches that generally require ceding to risk premiums, such as protection and assistance, rather than to commercial premiums. Recalculations are carried out according to user-defined tariff parameters and can be modified independently. This module also allows you to recalculate premiums according to non-configurable custom algorithms in order to comply with atypical agreement rules. You can cede risk premiums in installments calculated differently with respect to commercial premiums. It is also able to recalculate reversals risk premiums on a pro rata basis and it feeds the recalculated premiums into the XLayers ceding process while keeping track of all recalculations.
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