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EXPERTS FOR EXPERTS
PRS SERVICES
EXPERTISE
The PRS Prime Re Services has the required expertise and experience to provide professional advice in all areas of insurance and reinsurance. As a full service firm, we offer a comprehensive range of services. Over many years of practice, we have furthermore acquired specialist know-how in selected areas. We relieve our clients of burdensome tasks, whether long- or short-term, so that they can concentrate on their strengths. Our experience makes us a trusted advisor and reliable partner for our clients. Our approach is tried and tested, proficient, committed and sustainable.
We identify with our clients’ challenges, meet their needs and integrate ourselves into their work processes.
OUR KEY STRENGTHS
INTERIM MANAGEMENT
A shortage of manpower and time availability are common side-effects, undesirably binding all capacities at all levels. Learn more about the opportunities and support PRS can provide to overcome many bottleneck situations and to assist you in your general needs.
GENERAL REPRESENTATIVE
Web based retail solutions for insurance products. Interim management enables you to utilize the skills and experience of highly qualified persons to fulfil needs of your organisation at the particular moment you need assistance. PRS staff is providing interim executive solutions where needed with a new, proficient and independent view. With no history or axe to grind, a talented interim executive can boost the morale of the team and provide tangible short-term solutions or longer term strategies.
PRS interim executives are cost effective because they are a variable cost and not a fixed overhead. In addition they offer flexibility in terms of their availability, working hours, work location and role. The short-term nature of their missions also offers room for manoeuvre when necessary. Our professional interim executives are result orientated and used to working towards a specific goal and delivering to a deadline. PRS as well is familiar with the tasks and obligations of the “General Representative” of a foreign Insurance Company doing business in Switzerland and is able to provide a beneficial and distinguished
solution.
Gerald König
Managing Partner
Chairman of the Board
+41 41 725 32 21
FINANCIAL ACCOUNTING
Christoph Tschannen oversees all activities related to income auditing, accounts payable, accounts receivable processing and handles all regulatory reporting matters that are FINMA related. He has an exceptional understanding of financial and technical accounting, which he has acquired through many years of experience in the insurance and reinsurance industry. With an almost 25-year career span as an athlete and coach, he has acquired outstanding leadership, teambuilding and visionary skills. His excellent strategic and interlinked way of thinking shows why he is a member of the executive management team and the key figure in financial accounting.
CORE STRENGTHS
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Book-keeping
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Payments
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Cash Management
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Reporting
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Internal Audits
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External Audits
Christoph Tschannen
Managing Director
Head of Finance
+41 41 725 32 11
TECHNICAL ACCOUNTING
Our technical accountants deal efficiently with all daily reinsurance accounting and claims tasks. We check accounts with contract conditions and book them when correct, request missing accounts and additional information where necessary. We reconcile cash with open items booked , monitor and remind overdue balances. We support and work together with underwriters and client managers.
CORE STRENGTHS
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Reinsurance Accounting
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Claims processing
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Cash Management
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Technical Audits
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Technical Reports
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Transaction handling
John Epstein
Head Technical Accounting
+41 41 725 32 10
IT SOLUTIONS
Digitalisation of business processes is a buzzword on everyone's lips. PRS IT Solutions supports you in realizing the potential of these modern information and communication technologies for your company. The focus is on dialog-based applications for (retail) sales via the Web, on tailor-made cloud solutions with data storage exclusively in Switzerland, but also on high-performance applications for special areas such as active and passive reinsurance. However, even for the most modern technologies, professional project implementation, highly trained and experienced staff and reliability are the decisive key factors. Especially in this respect, PRS IT-Solutions has an excellent track record built up over almost 20 years.
CORE STRENGTHS
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Web based retail solutions for insurance products.
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Implementing and hosting of PRORIS for centralised reinsurance administration
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Portfolio management and loss administration, including retrocession
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Internal and external reporting, including the necessary data extraction
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Cloud solution for standard and industry-specific IT needs with the possibility of data storage exclusively in Switzerland
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Tailoring our infrastructure to your needs via secure remote data connections as part of bespoke ASP solutions
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One stop shop for retail customers, agents, brokers including claims processing
+41 41 725 32 22
LEGAL
We support insurance and reinsurance clients to cope with legal and regulatory requirements, to establish robust governance and compliance systems and to draft or review legal instruments in pursuing growth or exit strategies.
CORE STRENGTHS
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Regulatory Affairs; Licensing, prudential supervision, market conduct, governance, reporting
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Compliance; Drafting and implementing of compliance policies and training, compliance risk assessments
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Outsourcing; Service level agreements, due dilligence checks
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Transactions; Portfolio transfers, run-off, distribution and brokerage agreements
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Insurance and Reinsurance Contracts; Drafting and review of policy wordings, traditional and innovative products
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Claims and Liability Management, Claims handling, commutation, reserve estimation, legal risk assessments
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Seeking the most cost-efficient solution - quick fixes
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Flexible service provision; outsourcing, insourcing (secondments, projects), workshops
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Supplementary to client's existing resources. Bringing leverage to in-house counsel
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Legal Engineering of multi-jurisdictional mandates or projects, cooperation with partner law firms
We provide legal advice tailored to your needs, in accordance with the following principles:
Rolf Nebel
Head Legal & Compliance
+41 41 725 32 13
RUN-OFF
Why tap your own valuable resources to divest a non-profitable entity, in other words, to place it into Run-Off? This process can be implemented by PRS, leaving you and your team the capacity to concentrate on core activities, the future of your enterprise.With longstanding experience, we can provide a wide spectrum of Run-Off services, which exceeds the general handling of such portfolios. We ensure that inter alia, all Run-Off processes conform to the internal as well as to the legal and regulatory provisions. Additionally, we also evaluate claims and analyze the existent reinsurance coverage. Should you be interested in learning more about our Run-Off services, please contact Viktor, who will be most obliged to assist you.
CORE STRENGTHS
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Managing the run-off portfolios
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Conducting loss assessment and handling
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Developing an overall concept
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Exploring potential to simplify processes and terminate commitments
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Making appointments and gathering contract data
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Analysing and managing existing reinsurance
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Ensuring run-off processes comply with in-house and regulatory requirements
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Assisting in gradual downsizing of existing workforce
Viktor Bisang
Head Run-off
+41 41 725 32 90
HR SOLUTIONS
Particularly for senior staff it can be very time-consuming and complex to offer optimal conditions like ancillary wage costs. Hiring and administrating foreign employees (expats) is always an HR challenge. Over the past years we have built a profound knowledge in this special field. One of our core competencies is to answer all questions around labour law, tax issues and the Swiss social security systems. It is crucial to execute an optimal and well structured HR Administration. We are supporting numerous clients by handling of all salary payments and the administration of the social security plan and insurances. We have the necessary skills and competencies to offer our in depth knowledge and to guarantee an efficient and cost effective handling - thus a complete outsourced service.
CORE STRENGTHS
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Benchmarking of salaries and social-security contributions
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Setting up bespoke social-insurance policies
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Maintaining complex payrolls
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Clarifying employment law
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Solving challenges of international assignments
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Creating HR tools (e.g. guidelines, handbooks)
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Selecting / recruiting staff
Dagmar Busch
Managing Director
Head Human Resources
+41 41 725 32 26
STRATEGY CONSULTING
We support insurance and reinsurance clients on high-level decisions in an unbiased fashion, using our deep industry knowledge to deliver the best results. When designing and implementing business strategies our tailor-made approach is to listen and include instead of one-fits-all applications.
In order to ensure success we not only support top management with our independent opinion, but also follow up on progress and results. This allows our clients to take advantage of our broad experience in many fields of PRS Services.
CORE STRENGTHS
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Strategy development
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Independent second opinions (sounding board)
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Post Merger Integration
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Implementation Support
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Top-Level Moderation and Coaching
Dr. Arno Junke
Partner
+41 41 725 32 10