Prevail Consulting, a software and technology services provider for the property and casualty insurance industry, has launched its Prevail Reinsurance System Hosted solution.

According to the company, the new Prevail Reinsurance System fully automates the management of reinsurance data for insurance and reinsurance companies.

The solution accepts premium and loss data from external systems, calculates ceded data, creates payables and receivables and statutory reports, and then returns this data to the original systems, utilizing the Prevail Cession Web Service.

Prevail executive vice president Nat Curiale said the company’s solution has always provided scalability of reinsurance requirements, transaction volumes and physical locations.

"We have now added another layer of scalability to accommodate any company size, cognizant of infrastructure and IT costs," Curiale said.