AmTrust Financial Services, Inc. recently announced the company has signed an agreement with PCMI Corporation (Policy Claim Management International), a leading provider of integrated software solutions for the administration of F&I products, service contracts, and extended warranties. Through the agreement, AmTrust will implement PCMI’s Policy Claim and Reporting Solutions (PCRS) Reinsurance Module, which will provide AmTrust clients with an easy-to-use, robust reporting solution for their reinsurance businesses.
The online solution will allow access to information and reports, which will be generated much faster than the methods currently used, the company said. A few highlights of the PCRS platform include:
- Improved cession statements with the ability to display detailed valuable information
- Drill down capability to obtain underlying contract and claim detail
- Dashboards and experience/performance reports with analytical data to evaluate profitability and identify key risk factors
- Online access to information available 24/7 with a secure website portal
- Secure access to trust account information and activity
- Storage for reinsurance agreements and other pertinent documents in one location
- Support for all types of reinsurance structures including NCFCs (non-controlled foreign corporations)
“Most automobile dealers have reinsurance programs, which they view as significant profit centers for their businesses,” said Jackie Banks, vice president of reinsurance for AmTrust’s Specialty Risk Division. “This technology supports these important reinsurance programs by providing dealers with a comprehensive tool that will let them see the results of their reinsurance business, as well as providing relevant information that will help manage and maximize profitability. The compilation and calculation of information can often take time and at AmTrust we are continually looking for ways to use technology to improve processes and ultimately risk management.”
“Dealers today expect to have immediate and transparent access to key financial data from their providers,” said Mark Nagelvoort, president and CEO of PCMI Corporation. “AmTrust’s adoption of our PCRS platform highlights their commitment to supporting dealers. PCRS allows dealers to monitor their portfolios and track key performance information to maximize their profitability.”
