Global reinsurance broker Lockton Re has signed a long-term agreement with Supercede to refine its reinsurance data.
Lockton Re said it has now become the first major reinsurance broker to adopt wholesale usage of Supercede’s treaty data preparation platform, having seen an increase in adoption among their mutual clients.
The firm added, “Like all reinsurance brokers, Lockton Re receives data from cedents in a myriad of formats, making it a lengthy process to understand, format, and cleanse before drawing meaningful conclusions.
“Lockton Re’s pilot with Supercede during the summer led to confidence that many of the errors typically found in submission data could be automatically detected.”
Claude Yoder, Global Head of Analytics at Lockton Re, commented, “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.”
Supercede CEO Jerad Leigh, said, “Empowering industry trailblazers like Lockton Re epitomizes our mission. Watching them leverage our technology to bolster their service quality and efficiency is deeply rewarding and reaffirms our goal to revolutionize reinsurance.”
Leigh continued, “Watching the speed of adoption amongst cedent reinsurance buying teams really inspired us to push on with the platform’s maturity.
“Now, having well-respected brokers onboard gives us a further vote of confidence as the go-to platform for reinsurance data processing.”
