Reinsurance Accounting

The policy accounts within STEP are maintained at the policy level and accounting buckets can be set up as part of the product configuration for maintain the attributes related to reinsurance accounts, ceded premiums, YRT accounts, etc. The calculations and rules that are associated with these accounting buckets can be triggered as part of the Carrier/Product/Policy processing cycles or as part of the business transactions on the Carrier/Product during its life cycle. Since these calculations are run dynamically during the life cycle, the accounting buckets for the reinsurance accounts are maintained in real-time and can be reported as part of the normal financial reporting or on the STEP business analytics dashboard.