Use of Internet Explorer 6/7/8

You are using an old version of the Internet Explorer that is no longer supported. Please use a newer browser version. If you are missing the rights to do so, you can also enhance your Internet Explorer by installing the add-on called Google Chrome Frame. The extension allows you to display web pages that are no longer support by Internet Explorer. You can download the add-on here.

The Underwriting Account

Fast and transparent determination and posting of accruals

The underwriting account is an integral part of the financial statement of an insurance company. Determining the underwriting accruals, which is in practice still hardly automated, is one of the most complex subtasks. Calculations are posted to financial accounting either via additional interfaces or manually. The entire process is thus not very transparent and little to no sufficient documentation exists. Automating the process reduces run times for financial statements and cuts costs. Moreover, fewer errors occur and the process becomes more transparent.

The ConVista solution is an add-on for the standard functions of the SAP system that does not include any functions for calculation. The solution allows calculating all portfolio-based underwriting accruals (e.g. accruals for claims settlement costs, equalization reserves). Financial accounting data and other external data, which is automatically entered into an FI-SL, provide a unified data basis. Using the SAP standard functions makes coordinating this basic data easier and more transparent. Based on the data the accruals are then determined with freely configurable calculation methods. The entire process is thus significantly speeded up and less prone to errors.

"…thanks to the underwriting solution provided by ConVista, we were able to make our workflows easier to handle and more efficient."
Frank Bettermann, Gothaer Versicherungen

  • Automated calculation of underwriting accruals, such as unearned premiums, incurred but not reported reserves, claim settlement reserves, equalization reserves, cancellation reserves, etc.

  • Automated posting of calculation results to SAP FI in the different accounting principles

  • Simulation of financial statements

  • Reporting is performed in one system

  • Simplified coordination with the standard coordinating mechanism of the SAP system

  • Less manual activities/interfaces

  • Data is available in a unified data basis and managed as objects of the same type (account/posting item)

  • Transparent process

Milan Bjeloglav

+381 11 3287 083