NEW CANAAN, Conn. — Prevail Consulting, Inc., a leading software and technology services provider for the property and casualty insurance industry, today announced the launch of its Cession Web Service. The Prevail Cession Web Service enables seamless integration of the Prevail Reinsurance System Cession Engine with websites, enterprise portals, corporate intranets and extranets, policy administration and loss management applications and other interactive services. After receiving direct/assumed premium and loss data, the Prevail Cession Web Service returns calculated risk-specific ceded figures in real-time.
According to Nat Curiale, Executive Vice President of Prevail, “The Prevail Cession Web Service provides a platform-independent link to instantly calculated ceded results. Today, application interoperability is key to the cost-effective introduction of new tools and efficiencies to insurance operations. Our technology brings the power of the Prevail Reinsurance System right to the user’s desktop.”
The Prevail Cession Web Service is based on XML (eXtensible Markup Language), a document mark-up language preferred by software developers because of the ease of transporting data across different platforms and applications. The Prevail Cession Web Service also incorporates Simple Object Access Protocol (SOAP), an XML-based communication standard widely used in IT infrastructures.
The use of XML and SOAP enables the Prevail Cession Web Service to be “application agnostic” and “platform independent.” That is, inward and ceded premium and loss data can be incorporated into websites and networks regardless of the platform those downstream services use.
The launch of the Prevail Cession Web Service is a further milestone in the company’s strategy for making its Prevail Reinsurance System recognized in the industry as the best in its class for robust functionality and quick implementation of the most complex reinsurance programs and treaties. The Prevail Reinsurance System contains robust functionality, with user-defined tables, rules-based and utilizes standard Microsoft software.
About Prevail Consulting
Since 2000, Prevail has been providing reliable and innovative technology services exclusively to the property and casualty insurance industry; it is clearly recognized by its clients for business expertise, commitment, and ability to deliver quality work products in a cost-effective manner, no matter how complex the requirement.
In addition to its Reinsurance Solution, Prevail delivers Application Development and Maintenance Support; Business Systems Analysis; Project Management Consulting; Independent Quality Testing; Data Migration and Integration; P&C Insurance System Assessment; and Business Process Outsourcing.
For more information, visit: www.prevailconsulting.com; or come visit Prevail at the June 7-10, 2009 IASA conference in Orlando, Florida, booth #511.