Overview of the Smatsure system, what reinsurance industry problem the Smatsure solution was built to solve. The current features and the upcoming updates.

• Course Introduction

  1 min read

  Overview of the course

• System Overview

  4 mins : 22 sec watch

  High level walkthrough of the Smatsure platform

In this section, we will cover all the components that are related to facultative risk. These are; Facultative Risk and Quotation placements, Auto facultative risk placement, adjusting the risk placed and searching for existing risk.

• Facultative Quotation Placement

  2 mins : 53 sec watch

  This is when the ceding officer places a quotation on the market to assess the market's interest for potential risk sharing

• Facultative Broker Quotation Placement

  2 mins : 53 sec watch

  This is when a ceding officer chooses to place their quotation via a reinsurance broker. The reinsurance broker then places the quotation to the selected recipients.The ceding officer then views the offers placed on the broker's quotation placement and decides to convert that quotation to a risk or not, based on the market feedback.

• Facultative Risk Placement

  3 mins : 25 sec watch

  This is when the ceding officer has an existing policy and decides to share the risk with potential stakeholders. The ceding officer places the risk for recipients to place their offers on the Smatsure system.

• Facultative Risk Adjustment

  1 min : 48 sec watch

  After a ceding officer has placed a risk, he might decide to make adjustments.

• Searching For Facultative Risk

  44 sec watch

  Searching for an existing risk

• Auto Facultative Risk Placement

  1 min read

  Stakeholders sometimes have risk sharing standing agreements. When a risk with matching agreed parameters is placed, it automatically assigns the stakeholders their share of the risk.

• Auto Facultative Risk Setup

  3 mins : 50 sec watch

  Ceding officer selects the stakeholders, the proportions and the cover type that is on offer for auto facultative risk placement and sends as a request to the stakeholders. Stakeholders need to approve the request for the ceding to have the capability to place an auto facultative risk

When a risk recipient chooses to participate in risk sharing, they can place an offer for the ceding officer to assess.

• Risk / Quotation Offer Placement

  2 mins : 47 sec watch

  Recipient to place an offer amount and the offer percentage is calculated by the system.

• Offer Adjustment

  1 min : 45 sec watch

  User may adjust offer they placed before the ceding officer has approved the offer.

• Cancel Offer

  1 min read

  User may cancel their offer before ceding officer has approved the offer.

• Finalise Offer

  5 mins : 28 sec watch

  Beneficiary has to sign their offer that has been approved by the ceding officer

Ceding officer views the offer and may decide to approve it.

• Ceding Officer Offer Approval

  3 mins : 33 sec watch

  Ceding officer reviews offers placed and approves the desired ones

• Offer Decline

  1 min read

  Ceding officer may choose to decline an offer

• Offer Adjustment

  1 min read

  Ceding officer may adjust the offer amount and approve the adjusted amount

Smatsure system handles claim placement, payment, and confirmation of payment. This also include premium payment and confirmation of payment

• Claim Placement

  6 mins : 59 sec watch

  Claim placement which includes client details, claim amount and any relevant claim details such as documents, images and videos.

• Claim Payment (EFT)

  1 min read

  Beneficiary of the premium paid has to make a claim payment upon claim placement by the ceding officer

• Claim Payment (EFT) Confirmation

  1 min read

  Ceding officer has to view the uploaded proof of payment and confirm the details. After confirmation then the payment status changes from pending to paid

• Premium Payment

  4 mins : 42 sec watch

  Ceding officer has to make a premium payment before or on the premium due date

• Premium Payment Confirmation

  1 min read

  Beneficiary has to confirm by viewing the uploaded premium proof of payment

Account holders may add team members and assign them the appropriate roles and permissions

• How to Add Users

  1 min read

  The main account users may add team members to their account

• How to Assign Roles and Permissions

  1 min : 31 sec watch

  After creating a role, the account holder may assign permissions to the role. The role may then be selected when adding users.

Users may add workflows that best suite their Standard of Practice

• Create Workflow

  5 mins : 9 sec watch

  Users may create workflows

• Approving Workflow Request

  3 mins : 13 sec watch

  Selected approvers will receive a request based on the workflow setup