Unlocking Hidden Reinsurance Recoveries.
Paragon now offers a new Reinsurance product, ReCoverIQ.
Why does Reinsurance matter?
Reinsurance matters because it protects insurers from the financial shock of very large or clustered claims. When a major event like a hurricane or a catastrophic liability loss occurs, reinsurance limits the insurer’s exposure so a single event won’t jeopardize the company’s solvency.
It frees up capital, smooths earnings, satisfies regulatory requirements and supports credit ratings. It’s a strategic tool that protects insurers.
How ReCoverIQ Helps
Turning Complex Data into Recoverable Value
ReCoverIQ combines reinsurance expertise, analytics, and AI to validate your recoverables and find ones that were missed. It connects fragmented data and applies treaty knowledge so recoveries aren’t left behind.
Why Reinsurance Recoverables are Easy to Miss:
- Even very experienced insurance teams can overlook legitimate reinsurance recoverables. Complex contracts, lots of claims data, and long gaps between loss and recovery make it easy for opportunities to slip by.
- Data is often fragmented across claims, policy, and accounting systems. Mergers, conversions, and manual workstreams mean losses don’t always link back to the right reinsurance. Recoverable claims can get lost in translation or never flagged for billing.
- Reinsurance treaties vary a lot in structure, attachment points, and exclusions. A claim might fit one layer but not another, or be covered by an aggregate clause rather than a specific-loss clause. That mismatch between treaty language and loss records leads even skilled teams to miss recoverables.
- When people leave, institutional knowledge goes with them. Recoveries depend on knowing how past treaties were set up and how previous collections were handled. Without that context, historical recoverables can be forgotten or written off.
- Some claims take years to develop, especially liability, catastrophe, or environmental exposures. By the time they mature, files may be archived or incomplete. Timing alone can cause reinsurable losses to be overlooked.
- Traditional reinsurance accounting is manual and resource-intensive. Teams often focus on new or obvious recoverables and don’t have time for deep data correlation or aggregation. That leaves harder-to-find recoverables buried.
