To find out details about RAPA’s specific initiatives click on the links below.
Reinsurance Reporting Guidelines and Best Practices
This document was created through the RAPA Data Initiative to be used as a guide for best practices in reinsurance administration and reporting. It covers topics such as treaty implementation, data quality guidelines, accurate reporting of conversions/continuations, among other topics. It also contains usable templates to assist in reporting and a form that can be used to communicate reporting changes to your business partners. We urge you to utilize this document as a reference tool, to assist in training, as a way to understand the impact of poor quality data and to enhance data quality processes. Feel free to contact Rhonda Nielsen-Jackson if you have any questions about this document.
Communicating System, Data, or Administration Changes to Business Partners
This form was created by the RAPA Data Committee in order to provide a standard communication that can be used between business partners in the industry to share information on system, data, or administration changes. Examples of applicable uses of this form include, but are not limited to, full or partial system conversions, changes to data formats, key elements, or calculation fields, and data clean up efforts. There is further information on the first page of the documents below. The forms below are represented in Microsoft Word 2003 and 2007. Please choose the version that is compatible with your system. Feel free to contact Rhonda Nielsen-Jackson if you have any questions about this form.
- Communicating System, Data, or Administration Changes to Business Partners.
- Communicating System, Data, or Administration Changes to Business Partners (1997-2003 Version of Word).
If you are a non-member, please access these documents through the following link: http://reinsadmin.org/communicating/.
These documents are completed samples of the Reinsurance Reporting Guidelines and Best Practices document. Please feel free to use these as references on some key topics.
In September 2017, the Data Initiative team has produced an Underwriting Methodologies document to provide methodology definitions, discussions, risks and best practices. Please review and share this document with your team, peers or organization.
Purpose: To develop tools and techniques to provide guidelines on reinsurance risk management methodology and approach. Particularly relating to risk assessment, and auditing and compliance reviews of the reinsurance administration function of the direct writers, reinsurers and retrocessionaires.
This initiative is divided into two sub-teams with focus on:
- Reinsurance Administration Risk Assessment
- Reinsurance Administration Audit and Compliance Reviews
Areas of focus for 2015 include:
- Assess COSO’s Risk Management Framework and its use for Reinsurance Administration functions
- Develop a risk assessment tool for RAPA members to leverage
- Assess & develop a risk based audit plan
- Identify and catalogue industry leading reinsurance auditing practices
- Provide relevant training to RAPA members on the risk management framework and risk based audit planning
Deliverables & Milestones
- Intent is to further brainstorm the above deliverables during (Jan – June 2015)
- Build out the relevant tools and techniques during (July – Dec 2015)
- Distribute & develop tools as well as provide cross training on their use (likely during 2016)
This Risk Management initiative team has prepared the Risk Based Audit Plan Guidelines to assist member companies, of the Reinsurance Administration Professional Association (RAPA), in developing a systematic approach for conducting the annual risk based audit plan of ceding companies and reinsurers administration audits by reinsurers and retrocessionaires, respectively.
In addition to the guidelines, the Risk Management team has produced the Risk Management Matrix: RAPA_Reinsurance Administration_Risk Management Template
As of September 2017, the Risk Management Team has produced the following Administration & Treaty Administration work aids:
Leader is Garfield McIntryre, Munich Re
Reinsurance 101 Presentations!
RAPA Education initiative is pleased to make the Reinsurance 101 presentations which were prepared by members of the industry and used in various industry meetings available for use. Both presentations have valuable information and now can be found on the RAPA website. We recommend using these presentations as a training tool. The following presentations materials was intended to give a general view of Reinsurance .
Please do not hesitate to contact me firstname.lastname@example.org. if you find any flawed information.
Good News! Supplement to Reinsurance Basics is back!
As many of you are aware, LOMA had discontinued the Supplement to Reinsurance Basics Program which was prepared by the RAPA Education committee due to lack of participation. We understood from RAPA members that the cost was a bit high and may have hindered enrolment for you and your teams. Since we had very positive feedback about the program from those who had taken it and it was an integral part of laying the foundation for new Reinsurance Administration Professionals, we felt strongly about ensuring that it remain a key resource. Through the diligent efforts of your RAPA Education Committee, some LOMA has agreed to re-launch the Supplement to Reinsurance Basics Program on Friday September 26, 2014 at a reduced cost of $100 (vs $149) as well as an additional on line course. Essentially, you can now obtain 4 (vs 3) for a lower price.
Please select the following link for the program: http://learning.loma.org/public/ContentDetails.aspx?id=5A684F28872B416386319AB97D666C11.
We encourage you and your colleagues to take advantage of this exciting opportunity. If you have any questions or comments, please feel free to contact Dalia Khoury at email@example.com.
Develop training material in case study format to illustrate the impact of processing. The document will include real life examples with fictive names in order to keep the confidentiality of the material. Topics:
- Financial Impact to Business Rules (System)
- Leading reinsurance auditing practices Financial Impact to Conversion Process (File Mapping) assumed side to retro
Deliverables & Milestones
- We have 2 to 4 sub-groups tackling different topics. Each sub group is working one topic to complete documentation on by June 2014. Other topics will be noted for future target dates.
- Any additional topics will be decided on in the later part of 2014 .
Leader is Dalia Khoury, Optimum Re
2015 Deliverable – New Business Workflow Chart
The Education Initiative team has prepared the New Business workflow chart to assist member companies of the of the Reinsurance Administration Professional Association (RAPA), in understanding in a simplified approach the complexity of the various layers and how they are all entwined.
Reinsurance Treaty Fundamentals
The RAPA Education Committee developed a Reinsurance Treaty Fundamentals document to train new hires of direct insurers, reinsurers and retrocessionaires who are responsible for reinsurance administration. This document provides a solid knowledge of treaty basics. The document is broken down into 12 modules, covering the key treaty provisions in a reinsurance treaty. A Q & A section is provided with easy access to the answers. We invite you to use this document and we welcome your feedback. Click here to download the document.
Presentations from the Fall 2011 meeting in Nashville
The Education Committee, in partnership with LOMA, has developed an on-line training program for new hires of direct insurers, reinsurers, and retrocessionaires who are responsible for reinsurance administration. This collection provides a solid introduction to the fundamentals of life insurance products and reinsurance to enable new hires to gain the knowledge and understanding required to administer reinsurance business.
To register or learn more about this program, please visit LOMAlearn:
Reinsurance Glossary Reference Document
Glossary from Principles of Reinsurance. Copyright @ 2006 LL Global, Inc. Used with permission from LL Global. All rights reserved. Copying or downloading this information without permission from LL Global is a violation of U.S. federal law and international law. For additional information on LOMA, an operating division of LL Global, and its educational programs, visit LOMA’s website at http://www.loma.org
The document is available at: Glossary of Reinsurance Terms.pdf
Purpose & Goals
- Host discussions around Post Level Term administration to gain industry insight and capture Best Practices.
- Explore, research and write a white paper to document Post Level Term challenges best practices
- Prepare a Post Level Term presentation to share at a RAPA Fall Meeting and other industry events.
In 2016 we…
- Post Level Term Initiative formed
- Developed a working list of the top administrative challenges faced in post level term administration (25+)
- Established four sub-groups to categorize and address challenges:
- Administration and Processing
- Emerging Trends
2017 Areas of Focus
- Finalize outlines (late 2016)
- Utilize completed outlines to draft and complete PowerPoint and White Paper
- Continue hosting industry discussions to ensure best practices are captured in final documentation
Please contact Brittainy Pratt (firstname.lastname@example.org), if you have any questions on this initiative.
BECOME A RAPA MEMBER
The Reinsurance Administration Professionals Association encourages you to join our group of industry professionals. The association encourages knowledge sharing, networking and industry best practices.