Generali UK Branch has opted for Supercede to prepare and manage its reinsurance data, including data cleansing, preparation, and validation.
According to the announcement, choosing to use the Supercede platform will significantly speed up Generali processes and reduce manual processing time.
This decision follows a successful trial period in the UK, which started in autumn 2022. During this time, the insurer tested the software’s performance in preparing their January 2023 renewal data.
The internal reinsurance team were able to significantly reduce manual processing when preparing their submission data, using cutting-edge automation tools designed to standardise data into one consistent format, Generali highlighted.
Andy Parmenter, Chief Reinsurance Officer, commented: “There’s huge value in reducing manual processes when it comes to data cleansing, preparation, and validation.
“It’s nice to have my team able to work on other significant tasks without so much of their time taken up by spreadsheets. Supercede has given us a massive advantage in this regard. It will also allow our Line of Business Heads to analyse their portfolios at a much more granular level.”
Supercede supports the entire reinsurance value chain for cedents who want better submission quality, brokers who want a better placement process, and reinsurers who want better access to risks and data.
Jerad Leigh, CEO of Supercede, said: “The most recent renewal season highlighted the importance of good data. Renewals went out later than usual, which meant time really was of the essence; every question a broker or an underwriter had about a cedent’s underlying data further delayed the process.
“We’ve built the Supercede platform to solve these problems and speed up the entire reinsurance process. Clear and accurate data is critical for any renewal, but even more so when working within a condensed time frame.”
