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Nextera Bright

The core operating system for reinsurance brokers — from first placement to final settlement.

Nextera Bright covers the full reinsurance broking lifecycle on one connected system of record: placement, facultative, treaty, renewal, claims, accounting, settlement, bordereaux and reporting.

Who this is for

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  • Reinsurance brokers placing risk into the reinsurance market
  • Placement and treaty teams structuring and administering programmes
  • Finance and settlement operations reconciling and settling balances with cedants and reinsurers

What Nextera Bright covers

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A reinsurance broker’s work is one long chain: a risk arrives, it is structured and placed, lines are signed, the cover runs, claims arrive and are advised, money moves between three parties, and everything has to reconcile. Bright is organised around that chain rather than around departments.

  • Placing risk. Structuring a programme, approaching reinsurers, and tracking quotes, firm orders and signed lines through to binding — for single-risk facultative placements and for treaty programmes alike.
  • Running the cover. Administering proportional and non-proportional treaties from programme structure down to individual participations, and carrying both treaties and facultative covers through renewal with prior-year terms in view.
  • Claims. Recording and advising claims, applying them across cessions, and tracking each reinsurer’s share of the recovery.
  • The money. Technical accounts by treaty and transaction — premiums, commissions, taxes and adjustments — then reconciliation and settlement with each party, with an audit trail per counterparty.
  • The paperwork the market runs on. Producing and ingesting premium and claims bordereaux in the format each counterparty expects.
  • Seeing the book. Reporting across production, outstanding balances, aged debt and regulatory returns.

For what each of those terms means before you meet them in the product, read Reinsurance broking concepts.

What Nextera reports customers achieve

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These are outcomes Nextera publishes for Bright. Treat them as customer results rather than as guarantees for your own programme:

  • 40% faster placement cycles
  • 99.9% settlement accuracy
  • 6 systems consolidated into 1

Where it runs

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Nextera Bright is a hosted web application, normally at bright.nextera.id. See Getting access.

Where to go next

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