Specialty insurer and reinsurer Ascot has announced that it plans to use software from reinsurtech specialist Supercede to prepare and manage its reinsurance treaty placements going forward.
Ascot undertook the scaled pilot of Supercede’s product for the mid-year 2022 renewals and found use from the firm’s data validation, cleansing, and profile creation capabilities.
By replacing manual legacy processes, Supercede claims that its solutions can reduce errors, increase speed-to-market, and improve the quality of underlying submission data for treaty reinsurance placements.
Ascot also believes firm’s technology will enable it to cut data at a later point and enable better reconciliation of data.
“This is a well-designed product that can reliably help us with data challenges; importing, compiling, and organising reinsurance data in a meaningful way is difficult even at the best of times,” said Greg Waide, Head of Reinsurance at Ascot. “Supercede helps to ensure our data is well structured and sent out in a very timely manner.”
Jerad Leigh, CEO of Supercede, also commented: “Ascot has a reputation for agility and underwriting discipline. We’re delighted to have the chance to help Ascot further highlight and enhance that reputation with the use of the Supercede platform.”
“We’re looking forward to working with all of Ascot’s partners to make reinsurance easy for many years to come.”
