RITABLOCK

Exchange in seconds
of accounting data.

Current challenges in the settlement between insurers and reinsurers

For decades, the industry has been looking for a reliable, safe and fast solution and has been faced with the following challenges:

Unstructured data

in paper or file form cause enormous manual effort.

Long duration

The settlement of accounts takes a very long time – weeks sometimes months.

Intransparency

In some cases it is not clear to those involved whether invoice data has reached the recipient.

Efforts through standards

There are global standards, especially for the recipient. The implementation at the sender is often complex.

Inefficiency & high costs

Today’s process ties up enormous resources, especially for reinsurers, and sometimes generates high costs. For the primary insurer, too, system discontinuities cause avoidable process steps.

Partial imprecision

Particularly in the case of intra-group re-insurance, the slow process also leads to inaccuracies in accounting and bookkeeping.

in collaboration with

The strong companies at our side

Exchange of accounting data within seconds

RITABLOCK meets this challenge

Uncomplicated automation

Innovation in primary insurers’ accounting

Changes in society have led to changes in the insurance industry. Many areas at insurers have developed innovations. Block-chain-based, digital, automated settlement between insurers and reinsurers is one such innovation for accounting – with low costs and little implementation effort.

Reduction of expenses for the reinsurer

Data transmission and mapping within seconds

Reinsurers face the challenge of receiving accounting data in many structured and unstructured formats. The partly manual processing causes expenses and takes a long time.

Ritablock replaces manual accounting activities. Data transfer and data mapping takes place within seconds – instead of weeks. The savings could benefit insurers and reinsurers.

Easy and profitable access to future technology

“Blockchain” with Ritablock

Blockchain has the potential to sustainably automate and accelerate social and economic processes. In the insurance industry there are still hardly any real use cases. The use of Blockchain in the exchange and structuring of accounting data is a use case that achieves real added value and enormous savings and simplifications.

Einfache und profitabler Zugang zu Zukunftstechnologie

„Blockchain“ bei Ritablock

Blockchain hat das Potential, gesellschaftliche und wirtschaftliche Prozesse nachhaltig zu automatisieren und zu beschleunigen. In der Versicherungswirtschaft gibt es noch kaum echte Anwendungsfälle. Der Einsatz von Blockchain beim Austausch und Strukturieren von Abrechnungsdaten ist ein Anwendungsfall, der echten Mehrwert und enorme Einsparungen und Erleichterungen erreicht.

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Standardisation without effort –
fast, safe and structured

Five good reasons

Termin Vereinbaren

Standardisierung ohne Aufwand – schnell, sicher und strukturiert

Fünf gute Gründe

Much less effort

Significant reduction of expenses for reinsurers. Primary insurers also benefit from lower expenses.

Acceleration

of the billing process from weeks to seconds.

More transparency

The tracking of the transmission is secured.

Cost reduction

High savings potential for reinsurers. Primary insurers could also cut costs.

Increase in quality

Thanks to the speed and the use of the new technology, we increase the data quality massively and reduce sources of error.

Take your business to the next level

Make an appointment

Increase in speed

Facilitation of standardisation

Reduction of expenses

Arrange a LIVE demo now

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