1. Release Notes
  2. About This Guide
  3. New Features in this Release

New Features in this Release

Oracle Insurance Accounting Analyzer Extension Pack bundles the following new features in version 8.1.2.6.0. For detailed information about the usage of the listed features, see the respective product User Guides on OHC Documentation Library.
  • Reinsurance Settlement feature has been added in this release, the following enhancements are done for the same:
    • The following database staging tables capture the inputs required for reinsurance settlement computation:
      • A new table called STG_INS_INSURED_GROUP_SUMMARY is added to capture details like premiums, fees, funds withheld, reserves, etc.
      • A new table called STG_REINSURANCE_TREATY_DETAILS is added to capture reinsurance treaty-related details.
      • Existing tables STG_CLAIM_DETAILS and STG_CLAIM_TXNS are used to capture claim-related details.
      • A new table called FSI_IIA_REINS_SETT_OPENING_BAL is added to capture the opening balances for funds withheld for the first execution.
    • Reinsurance Settlement is available as an Application Type in the Application Configuration screen.
    • Reinsurance Settlement is available as a Method in the Calculation Preference Configuration screen when the Reinsurance Held slider is toggled on. The entire calculation template structure for reinsurance settlement can be seen and modified when this method is selected.
    • For new reinsurance-settlement templates namely, Template1, Template 2, Template 3, and Template 4 are available in the Calculation Preferences feature when the method is selected as Reinsurance Settlement and the Reinsurance Held slider is toggled on. These templates can be either viewed or copied with a new name and edited.
    • The Reinsurance Settlement Computation is available on the Left Hand Side menu for either viewing the existing definitions or creating new definitions. A new reinsurance-settlement-computation definition can be created by giving a name, and description, selecting the mandatory dimensions, and selecting a reinsurance-settlement template.
    • Reinsurance Settlement is available as an Application Type in the Variable Maintenance screen, the same can be selected to view the input variables seeded into the application for reinsurance settlement. New variables can be added in the same way IFRS17/LDTI variables are added.
    • Reinsurance Settlement is available as an Application Type for the Subledger Attributes.
    • Reinsurance Settlement is available as a Calculation Method in the Subledger screen when the Extension Pack Enabled slider is toggled on. A new subledger definition can be created for reinsurance settlement or existing definitions can be viewed via the Subledger feature.
    • The Reinsurance Settlement Reports dashboard is available on Oracle Analytics Server (OAS). The following pages – Period to Date, Detailed, Summary, Others, Subledger – are available on the dashboard and multiple reports are available under each page. Please refer to the Oracle Insurance Accounting Extension Pack Reports document for further details on these reports.
  • Earned Premium computation feature has been added in this release.
    • The 1/365th and 1/24th methods are available as the Earned Premium Calculation Method in the Application Configuration screen.
  • Unearned Premium Reserve (UPR) and Unexpired Risk Reserve (URR) computation features have been added in this release.
    • In the Application Configuration screen, the Enable UPR URR Calculation setting, allows you to computation of UPR and URR.
  • The Reserve Converter feature has been added in this release.
    • IBNR or IBNR & IBNER reserves may be given in the table FSI_IIA_INPUT_RESERVE_AMOUNT and the basis of allocation in the table FSI_IIA_APPORTIONED_RESV_PARAM and FSI_IIA_APPORT_RESV_WEIGHTAGES is used to convert the Accident Year/Underwriting Year reserves at the cohort level.