Sales contract automation for insurance industry

How to create outlook signature

meet john booker rutledge otherwise known as john b john b just purchased a home in the outer banks the outer banks are a series of barrier islands off the coast of the u.s state of north carolina separating the atlantic ocean from the mainland besides its pristine beaches the outer banks are known for lighthouses wild horses and fishing some of the best in the world however for all the positives this area of the country is known for something else storms especially hurricanes and nor'easters in fact the entire geography of this chain of barrier islands has been shaped and altered throughout the centuries by passing storms and hurricanes as such insurance for john b's home is expensive besides homeowners insurance john b is required to have both a wind and hail and a flood policy all totaling around 8 000 dollars per year that's a hefty premium but john b must protect his investment luckily blackbeard insurance specializes in insurance for beach homes and issues the policies to john b however after the hit netflix series the outer banks is becoming quite popular with home sales at record levels and blackbeard insurance is reaping the spoils showing massive increases in written premiums over the past several years however with massive premiums comes massive exposure all it would take is one massive storm to cause billions of dollars worth of losses blackbeard insurance would be visiting davy jones's locker that's where reinsurance comes in reinsurance is a financial transaction by which risk is transferred or seeded from an insurance company referred to as the sedant to a reinsurance company referred to as the re-insurer in exchange of a payment or reinsurance premium in simpler terms reinsurance is insurance for insurance companies just as the various insurance policies that protect john b from losses a reinsurance contract can protect blackbeard insurance against large losses should a catastrophic storm level the outer banks in this course you will learn more about reinsurance including the various types of contracts the parties involved and of course the accounting for reinsurance contracts but we'll also cover the importance of risk transfer because if risk doesn't transfer then reinsurance accounting is not appropriate so let's set sail to the outer banks and learn more about reinsurance