TIRS Submission and Underwriting Notes

TIRS – Submission and Underwriting Notes

This document outlines the treaty submission and underwriting processes within the TIRS desktop application. It covers the workflow from proposal requests to underwriting and activities.

4.1 Submission

A submission is a proposal from an insurance company to a reinsurer, including risk details. The reinsurer decides whether to accept the risk. Roles/privileges are defined in the SEC Util application, including Claim Manager, Senior Manager, Technical Assistant, Underwriters, Claim Examiners, Contract Analyst, and Actuary. Underwriters primarily decide on acceptance, with input from the Actuarial team. Three submission types: Treaty, Facultative, and Primary.

4.2 Underwriting

Underwriting involves evaluating risks, setting pricing, and determining reinsurance contract terms. Underwriters assess risk exposure, calculate premiums, define coverage, and decide whether to accept or reject the submission. Underwriting types: Treaty, Certificate, and Policy.

5.1 Treaty Submission

Users can create a treaty submission in three ways: new, copy existing, or copy/renew a treaty.

1. Create a new submission by entering the required data

Creating a new submission assesses terms for new risks/policies. Steps: File → New, select Treaty Submission, and click OK. Input data in the General Information tab, then save. A submission number is assigned, and an acknowledgment letter can be sent to the broker.

2. Create a new submission by copying an existing one

Copying an existing submission is used when data are identical. Steps: Open a submission, click Activities → Submission → Copy. A Copy Submission pop-up appears. Checking "Include Submission Notes" copies notes. An acknowledgment letter option follows.

3. Create a submission by copying or renewing a treaty

Treaty renewal requires the treaty be expired or canceled. Steps: Underwriting à Activities à Treaty, select the Renew option, and click OK. The user is redirected to the Submission page with the renewing Treaty Number.

5.1.1 Submission Detail Section-All Tabs

The submission screen shows tabs: General Information, CA Modeling, and Electronic Folder DMS. Some fields are read-only, and others require user input.

5.1.2 Submission → General Information Tab

The General Information tab contains submission details for risk assessment, including: Name, Group, Division, Department, Sub-Department, Submission Group, Ceding Company, Counterparty Search Screen, Broker, Underwriter, TA, RA, CA (User Roles), Treaty Type, Line of Business, Company Domicile, Exposure Territory, Layer, MGA, Base Currency, Branch Office, Status, Final Disposition, Assigned Treaty No, Renewal Treaty No, Last Update, Received Date, Effective Date, Quote Date, Quote Expiration Date, Contact and Ceding Broker Contact, 100% Treaty Limit, Retention Amount, 100% Subject Premium, 100% Subject SA, TRC Financing Amt, Rate, Estimated Premium, Authorized Line %, Estimated Signed Line %, Co-Insurance Factor %, Margin Percentage, Authorized TRC Limit, Signed TRC Limit, Authorized TRC Premium, Signed TRC Premium, Created, Approver, Approve Date, New/Renewal, Pro Rata, XOL, and Confidentiality Agreement.

5.1.3 Submission → Electronic Folder (DMS)

This tab stores processing documents related to a submission.