What this guide helps you evaluate
risk, finance and insurance teams evaluating program administration, benchmarking and collateral services where coverage structure, claims economics and insurer requirements drive material cost. This comparison checklist helps organize a decision about reinsurance administration platform.
This page is designed to help you compare the moving parts, organize due diligence and ask better questions before you commit money, sign a contract or change an operating process.
Define the business outcome, decision owner, expected term and the evidence needed to validate treaty and facultative contract records.
Normalize treaty and facultative contract records, premium claims and bordereaux workflow and settlement controls and reporting before comparing proposals or internal options.
Keep assumptions separate from verified facts and record the source, date and owner for material requirements.
What to compare first
- treaty and facultative contract records
- premium claims and bordereaux workflow
- settlement controls and reporting
- program structure and service boundaries
- data, collateral and claims evidence
- fees, insurer acceptance and operating controls
Step-by-step process
- 01
Create one comparison column per shortlisted option and one row per mandatory requirement.
- 02
Record verified evidence for treaty and facultative contract records, premium claims and bordereaux workflow, settlement controls and reporting and mark missing information instead of assuming equivalence.
- 03
Normalize one-time, recurring, usage-based and internal costs to the same time horizon.
- 04
Record contractual, security, implementation and operating exceptions with owners.
- 05
Reconcile the final matrix with finance, operations and any required professional reviewer.
Common mistakes and risk checks
- comparing fees without program responsibilities
- using incomplete claims or exposure data
- failing to define collateral release, reporting or insurer approval requirements
- Treating a comparison checklist as a substitute for signed agreements, current official rules or qualified professional review.
Documents and evidence to collect
- current insurance and reinsurance program
- loss runs and exposure schedules
- collateral or claims records
- broker carrier or vendor proposal
Questions to ask before approval
- How is treaty and facultative contract records defined, measured and evidenced?
- What changes if premium claims and bordereaux workflow is higher or lower than the base case?
- Which fees, exclusions, implementation tasks or operating duties sit outside settlement controls and reporting?