Joseph Sebbag is CEO of Effisoft USA in Dallas and an expert in reinsurance software for primary insurers and reinsurers. Effisoft’s WebXL software is a comprehensive reinsurance platform that supports the administration of ceded, assumed and retroceded reinsurance for all lines of business.
Sebbag was director of business development for Canada at MphasiS-Wyde, a provider of core insurance systems. Previously, he was assistant vice president, reinsurance, at SCOR, where he was an executive member of SCOR’s management team for U.S. operations and reported to the CEO of the Americas. As a member of SCOR’s reinsurance administration system committee, he played an instrumental role in the development of the specifications, deployment and enhancement of SCOR’s global reinsurance system.
He has written articles and columns for Best’s Review, Carrier Management and others. He was also a member of the review and editing panel for the Principles of Reinsurance textbook published by Loma in 2006. Fluent in four languages, he’s earned five industry designations: FLMI (Fellow, Life Management Institute, with distinction), ARA (Associate, Reinsurance Administration), AFSI (Associate, Financial Services Institute), CIOP (Chartered Insurance Operation Professional) and ACS.
“Do you know where your children are?” That was a popular catchphrase in a TV public service announcement. Do you know where your reinsurance program is? Many senior executives at insurers can’t say for sure. Many insurers find it a struggle to document their ceded reinsurance program (the risk they have transferred to a reinsurer) in a […]
Ceded reinsurance management is still a technology backwater at insurers that manage their reinsurance policies and claims with spreadsheet software. These manual methods are error-prone, slow and labor-intensive. Regulatory compliance is difficult, and legitimate claims can slip through. Insurers recognize they need a better solution, and there’s progress. While quite a few insurers have implemented […]
Insurers’ numerous intricate reinsurance contracts and special pool arrangements, countless policies and arrays of transactions create a massive risk of having unintended exposure. The inability to ensure that each insured risk has the appropriate reinsurance program associated with it is a recipe for disaster. Having disjointed systems—a combination of policy administration system (PAS) and spreadsheets, for […]