London, United Kingdom, 17 October 2023 - In response to the increasing demand for accuracy and efficiency in the reinsurance sector, global reinsurance business Lockton Re has licensed a treaty data preparation tool from Supercede, a frontrunner in reinsurance technology.
Lockton Re also becomes the first major reinsurance broker to adopt wholesale usage of the Supercede platform, having seen an increase in adoption of the platform amongst their mutual clients.
Lockton Re’s pilot trial with Supercede during the summer led to confidence that many of the errors typically found in submission data could be automatically detected using Supercede.
Lockton Re receives data in a myriad of formats, often making it a lengthy process to understand, format, and cleanse before drawing meaningful conclusions. Supercede's platform ingests data in its native raw format, regardless of its structure, and swiftly transforms it into structured and cleansed data. The platform's advanced error detection and anomaly identification capabilities further streamline the process.
Claude Yoder, Global Head of Analytics, said,
"Our independence allows us to focus entirely on meeting our clients' needs. By integrating Supercede's automation technology, we can work more efficiently and provide unmatched service quality to our clients."
Reflecting on the collaboration, Supercede CEO, Jerad Leigh, remarked,
'Empowering industry trailblazers like Lockton Re epitomises our mission. Watching them leverage our technology to bolster their service quality and efficiency is deeply rewarding and reaffirms our goal to revolutionise reinsurance."
“Watching the speed of adoption amongst cedent reinsurance buying teams really inspired us to push on with the platform’s maturity”, Leigh added. “Now, having well respected brokers on-board gives us a further vote of confidence as the go-to platform for reinsurance data processing”.
About Supercede Technology Ltd: Pioneering change since 2016, Supercede stands at the forefront of reinsurtech, offering a platform that reshapes reinsurance through data, automation, and integration. Supercede is dedicated to elevating industry standards for data quality and submission processes. Discover more at https://www.supercede.com
Lockton Re, the reinsurance business of Lockton, helps businesses understand, mitigate, and capitalize on risk. With over 350 colleagues in 18 locations globally, the business is continuing to grow, pushing the reinsurance industry forward with smarter solutions that leverage new technologies—delivered by people empowered to do what’s right for clients.
Find out more: global.lockton.com/re/
Supercede Technology Ltd.
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