News
AETI Shortlisted for US Captive Review Award
September 8, 2021 Media, PA
Quadra
AETI Inc. has been named a finalist in the Software Solution category for the 2021 Captive Review Awards. Quadra®, AETI’s application for maintaining insurance exposure asset information, was recognized for its newly-introduced enhancements that automate the invoicing process and greatly reduce the administrative overhead for our broker partners.
Our clients rely on Quadra’s Allocations module to calculate accurate insurance premiums that reflect an organization’s true cost of risk. The Allocations module is a singular product within the alternative risk market that provides a transparency not available anywhere else. This module now offers even more functionality with its ability to create and distribute invoices and asset change reports easily, with a simple interface that facilitates the process from start to finish. The system allows clients to adjust invoice and asset change settings, along with coverage-to-fund mapping. A scheduling feature offers a great deal of flexibility in determining dates for allocated amounts, invoice creation, and asset changes. Clients can edit invoices individually or by batch, remove invoices and journal entries, regenerate allocated amounts due to changes in asset values, and automate the delivery of invoices and reports directly to billing contacts.
Most of our clients utilize the Allocations module in tandem with the Accounts Receivable module to track allocated amounts and facilitate payments received. However, this function also benefits clients that do not use the A/R module but still rely on Allocations to ensure all asset changes are accounted for and that premium charges are accurate. Invoices can be created as ‘reporting invoices’ which can be exported and integrated into an outside A/R system. With Quadra, the overall process is more efficient and clients can be confident that the resulting charges are precise.
AETI has been named a finalist in the Captive Review Awards for four years in a row, and in 2018 and 2019 was announced as the winner in the Software Solution category. The Captive Review Awards recognize companies who have provided exemplary service to the captive insurance industry as well as individuals who have demonstrated excellence in their professional roles.
Winners will be announced at US Captive Review Awards ceremony scheduled for October 10, 2021. We are excited to share this news and thank our clients for partnering with us in managing their insurance programs. View the full list of finalists.
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