In today’s business environment, the ability to identify, collect and track reinsurance recoverables will take on greater significance as companies seek new ways to reduce operating costs and generate incremental revenue.

Paragon’s ReFinder solution accelerates the collection of reinsurance loss recoverables. We leverage proprietary technology, backed by our in-depth understanding of both reinsurance contracts and P&C operations, to:

• Identify, validate, prioritize, report and collect loss recoverables
• Recommend process improvements to accelerate reinsurance identification, billing, and recovery
• Deliver industry metric comparisons
• Provide follow-up reviews for the next two years to ensure operational efficiencies are maintained
• Minimize your internal resource commitment

There are many reasons that reinsurance recoverables are not identified or collected. Common challenges include company acquisitions, systems conversions, data existing on multiple systems, manual or inconsistent processes and the complexity of reinsurance contract terms. ReFinder directly addresses those challenges by:

• Integrating data from multiple sources and systems
• Reconstructing missing information to provide a complete picture of reinsurance placements
• Analyzing facultative and treaty reinsurance to capitalize on recovery opportunities
• Reconciling the general ledger to the reinsurance sub-ledger
• Creating a database for managing and reporting

Our phased-in service delivery features a 90-day initial analysis focused on identifying previously unknown recoverables with the greatest potential, in terms of dollar amount and ease of recovery. Clients benefit almost immediately from these tangible results. Other features of the service include:

• Establishing a comprehensive reinsurance database using both direct and ceded claim records
• Identifying and validating reinsurance recoverable balances owed
• Preparing invoices and the appropriate documentation for billing reinsurers
• Managing the entire process and any follow-up needed to expedite the recovery process

Additional benefits to our clients include:

• A catalog of the reinsurance examined, organized by program, to help clients keep track of future recoverables and improve overall collection efficiency
• Periodic reviews up to two years after completion to validate that process improvements continue to create efficiencies
• Minimal disruption of ongoing operations
• Low investment risk, as our compensation is contingent upon successful results