Elgar.X

Elgar.X, the international Reinsurance Recovery and Credit Control System from
Xchanging. Designed to manage complex reinsurance portfolios cost effectively.

Managing your reinsurance recoveries

Cash is the lifeblood of every business and maintaining a positive cash flow is an integral part of the management of working capital and the control of financial risk. This can prove to be particularly difficult for reinsurers, where the complexity of the claims process often means a long turnaround from claim payment to recovery.

The Elgar.X solution will help you collect your reinsurance recoveries as soon as possible and reduce the cost of administering your reinsurance programme.

Innovative solution

Elgar is an excess of loss recoveries and general reinsurance administration solution, developed to help you efficiently administer all aspects of outward reinsurance programmes, to speed recovery and significantly improve your cash flow. Designed to reflect the way reinsurance teams work, Elgar can be integrated with existing Xchanging applications, such as Genius.X or Iris.X as well as your own or third party administration systems, or it can be implemented as a standalone solution.

Its flexibility and ease of use enable reinsurance and accounts staff to have complete control of the reinsurance process, allowing close monitoring at every stage. The evolution of the Elgar.X software will build on the comprehensive functionality already provided and see the introduction of additional reinsurance components including proportional processing and an outwards reinsurance front office.

Speed up the recovery process

To support the recovery lifecycle, Elgar provides three modules that can be deployed separately or as an integrated solution. The excess of loss recovery module will process complex nonproportional reinsurance programmes thereby increasing the speed of recovery. It will calculate the reinsurance recoveries on a paid, outstanding, and IBNR basis producing collection and advice notes and posting these records to the credit control module.

It can deal with complex reinsurance arrangements, such as multi-layered programmes with Risk and Cat XL’s, Variable Excesses, multi-section and Original Loss Warranty layers as well as complicated inuring programmes, market clauses such as Interlocking, Ultimate Net Loss and Currency Fluctuation. Losses can be calculated in both date of loss and date of settlement order, in any currency and the system has multilingual capability with a Spanish version already in use.

Elgar calculates all types of reinstatement premiums as well as profit commissions, No Claims Bonuses, burning costs and premium adjustments.

Elgar’s credit control module allows for partial allocation of cash against collection
notes, includes comprehensive commutation functionality and has a user defined
reporting engine. 

Flexible and simple solution

Whether purchased as individual modules or as a complete integrated system, Elgar provides a flexible solution, suitable for all sizes of organisation. An open system based on client-serverarchitecture, it can run on a single PC or over a network and is designed to use MS SQL Server and Oracle™ databases. It is simple to install and can be used as a stand-alone system or integrated into your own underwriting and claims management system.

With an intuitive screen layout designed by insurance practitioners, Elgar is straightforward to use. Virtually all data can be imported using Microsoft Excel templates. During the initial implementation these ensure you are up and running on Elgar in the shortest possible time.

Data analysis and reporting are key features allowing users to analyse contract performance, cover utilisation, recoverable values and aggregate exposure. In addition, a full credit control reporting suite is supplied including aged debt analysis, accrual and commutation reports and broker statements.

The Elgar LORS EDI module is fully integrated with the credit control module and takes a real-time message feed from the Lloyd’s Outwards Reinsurance Scheme database providing a rapid and flexible interface for credit and debit payments. This module features auto allocation at reinsurer level and the capability to auto authorise where appropriate. 

Elgar.X – the future of fully ceding reinsurance

Elgar.X is being built on the Xchanging Insurance Application Platform (XIAP). XIAP, a modular .NET platform, plays a central role in the evolution of our industry-leading software products. A roadmap is available for Elgar.X which over time will introduce new modules that will either enhance or replace existing functionality.

The new modules will be underpinned by a comprehensive business process engine and configurable definition to streamline the capture and processing of information. Elgar.X will introduce a fully ceding capability leveraging the facultative and proportional processing originally developed for Genius and Iris. This will provide a single seamless integrated fully ceding gross to net recovery calculation solution. In addition to the fully ceding capability, Elgar.X will introduce the reinsurance front office with RI purchase.

Insurance Directory 

Supporting the capture of related name and address data, Insurance Directory enables the management of all parties involved in the risk lifecycle.

Business Process Management 

A business process engine enables customers to define required behaviour to reflect their business processes rather than enforcing a particular process flow. With this embedded capability, the implemented solution can optimise, automate and measure an organisation’s insurance processing workflow from first customer contact to claims settlement and every interaction in between.

Integration and deployment

With powerful configuration and data-mapping tools, the next generation of our insurance software products benefits from an architecture that supports multiple input channels (mobile, browser, messaging, ACORD etc.) as well as functional component deployment and integration, enabling our solutions to sit comfortably within an organisation’s best-of-breed component based architecture.

Technical innovation

By utilising Microsoft .NET technologies, the next generation of our software products is supported by the latest methods of deployment and system management, including virtualisation and cloud computing, that today’s organisational architectures demand.