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Introduction: Marnix Insurance Brokers Asia Pte Ltd, 100% owned by the Japanese Conglomerate-Marubeni Group- is a licensed reinsurance broker approved by the Monetary Authority of Singapore (MAS). Together with Marnix Corporation in Tokyo and Marnix Europe Ltd in London, Marubeni now has insurance broking entities in three major reinsurance markets.
Marnix Insurance Brokers Asia Pte Ltd provides insurance broking and risk consulting services to Companies worldwide, in the electric power, infrastructure, and energy sectors.
Industry: Financial & Insurance Industry
Challenges:
• Insurance Broking Non-standard requirements for Premium Calculations-Complex Work Premium Sheet (WPS) Calculation with variable parameters of Reinsurers, Sum Insured, Gross Premium, Risk Categories, Cedant, Number of Instalments, Ceding Commission, R/I Cover, Local Brokerage and Retained Premium in combination with fluctuating Risk Percentage allotment/Apportionment across various categories
• Integrating 4 types of Vendor Billing for Closing Instructions (non-instalment and instalment), Tax Invoice-Broker (noninstalment and instalment) in AP process.
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