Munich Re implements new IT platform

Munich Re has replaced its legacy systems with a new IT platform, Gloria (Global Reinsurance Application) platform. This new platform is intended to standardize business processes and the handling of reinsurance business. Munich Re says the new IT platform should also enhance as well as the quality and efficiency of activities such as underwriting, claims […]

By Canadian Underwriter | September 21, 2006 | Last updated on October 2, 2024
1 min read

Munich Re has replaced its legacy systems with a new IT platform, Gloria (Global Reinsurance Application) platform. This new platform is intended to standardize business processes and the handling of reinsurance business. Munich Re says the new IT platform should also enhance as well as the quality and efficiency of activities such as underwriting, claims management and accounting quality and efficiency.Providing a uniform database will increase efficiency in the analysis, control and administration of Munich Re’s reinsurance business.Harmonizing its core business processes should also help reduce global risk management. The IT platform is SAP’s standard reinsurance software SAP Reinsurance Management. SAP Reinsurance Management has been implemented at the group’s Munich headquarters and is forecast to be integrated into the offices of Munich Re America in Princeton and at its offices in the US in early 2007.

Canadian Underwriter

Yukon gets $45M to prevent Whitehorse-area landslides, more money for flood recovery

Risk

Yukon gets $45M to prevent Whitehorse-area landslides, more money for flood recovery

The federal government is contributing $45 million to help prevent landslides along the Whitehorse Escarpment with the aim to protect the land under Whitehorse International Airport and its access road to the Yukon’s capital. The escarpment has been plagued by landslides in the last several years, prompting the construction of a protective barrier along the […]

By Jason Contant | May 7, 2024

1 min read

Regulator defends use of territories for rating auto insurance

Risk

Regulator defends use of territories for rating auto insurance

Ontario’s auto insurance regulator is allowing insurers to explore different ways to rate for territories other than the standard — and rigid — postal code method, but the regulator won’t be banning territorial rates, the regulator’s top exec confirmed Monday. Mark White, CEO of Ontario’s Financial Services Regulatory Authority (FSRA), addressed a question about the […]

By David Gambrill | March 4, 2024

3 min read

Earthquakes Canada receives hundreds of reports in B.C. after 4.9 magnitude quake

Risk

Earthquakes Canada receives hundreds of reports in B.C. after 4.9 magnitude quake

VICTORIA – Earthquakes Canada says a 4.9 magnitude earthquake was recorded Sunday afternoon and public reports poured in from hundreds of kilometres away from the event’s epicentre. John Cassidy, a seismologist with Natural Resources Canada, says people over a “very wide region” of the province have reported feeling the earthquake, which hit just before 3:30 […]

By Jason Contant | December 18, 2023

2 min read