Did You Know?
Our platform is an end-to-end (re)insurance underwriting and reporting ecosystem.
Our platform is an end-to-end (re)insurance underwriting and reporting ecosystem.
Zenik’s end-to-end underwriting solution streamlines the entire underwriting process, enabling (Re)Insurers to capture all data, utilize built-in costing engines, manage partners, limits, and exposures, and generate reports seamlessly within one centralized system.
Regulatory oversight, fragmented systems, and outdated processes with limited capabilities are keeping the credit and political risk insurance market from staying relevant and realizing its full potential.
These key pain points were gathered directly from professionals and companies operating with and in the Credit and Political Risk (Re)Insurance market. Challenges such as limited oversight, hindered transparency, reduced efficiency, and compromised decision-making were at the forefront. The Zenik solution was purpose-built to address these issues head-on.
With Basel III introducing stricter capital adequacy requirements, the credit insurance market faces growing scrutiny over reserving practices and the limitations of existing systems. Without clarity and modernization, the market risks diminishing relevance and competitiveness.
Basel III raises the bar for capital adequacy, challenging the use of credit insurance as a reliable Credit Risk Mitigation (CRM) tool without robust reserving practices and transparency.
Regulators are demanding more accurate reserving, better oversight, and robust data. However, outdated systems and fragmented workflows hinder the industry’s ability to meet these expectations effectively.
Without innovation and modernized risk management, credit insurance risks losing its role as a tool for reducing Risk-Weighted Assets (RWA). The market lacks the tools and data to challenge regulators’ assumptions about the robustness of the (re)insurance credit market, leaving it exposed to vulnerabilities during economic downturns or crises.
Risk profiles in Credit and Asset Finance risk insurance change frequently. Without real-time updates, insurers are facing many issues, such as:
Insurers lack timely insights, leading to over- or under-reserving and inefficient capital allocation.
Delayed updates can result in non-compliance, penalties, or insufficient reserves to meet regulatory requirements.
Without real-time data, reinsurers receive outdated information, weakening trust and reducing available capacity.
Inefficient portfolio oversight increases operational costs and heightens the risk of unmanaged accumulations, jeopardizing stability.
The growing demands for regulatory compliance and operational transparency pose significant challenges for (re)insurers in the form of:
Struggling to meet heightened requirements for oversight and transparency across operations.
Navigating the growing complexity of reporting obligations for reinsurers, investors, and stakeholders.
Difficulty in implementing robust compliance measures, tracking processes, and establishing effective operational procedures.
Scrutinizing credit insurance as a risk mitigation tool, citing concerns over insurers’ capital reserving practices, ability to manage risk.
The absence of modernized systems is limiting scalability and future preparedness for businesses, leading to several critical challenges:
Legacy systems and outdated data capture methods hinder scalability and prevent the adoption of future technologies like Artificial Intelligence (AI).
Companies attempting to build their own solutions face significant challenges, as these projects are often expensive, time-consuming, and prone to failure.
Standalone portals developed by companies often lack interoperability, creating inefficiencies and leading to fragmented, siloed data for clients and the broader market.
Premium and Claims Management
Exposure Tracking
Partner Management
Limit Management
User access & Authority controls
Currency Exchange Rates
Costing Engines
Workflow Management
Administrative Systems
Accounting Systems
Third-party Data Integrations
Document Storage
Finance and Treasury Systems
Contanct our advisor and discuss your business case or book a demo.
