Spanish reinsurer Nacional Re is set to leverage ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform and Translator) for Global Reinsurance and Large Commercial (GRLC) to “automate the digitisation and exchange of accounting and claims data in insurance industry documents”.
ADEPT and its integrated ACORD Transcriber service reportedly enable efficient data extraction and real-time data exchange with stakeholders across the global insurance ecosystem.
“Nacional Re will utilise these solutions to extract and digitise data from accounting and claims documents, and transform the data into ACORD Global Reinsurance and Large Commercial standardized messages that flow seamlessly into Nacional Re’s reinsurance system,” the Spanish reinsurer explained.
Nacional Re added that the implementation of ACORD Transcriber and ADEPT will “eliminate time- and labour-intensive manual rekeying processes”, instead automating these processes and enabling “more accurate, efficient, and timely” data exchange with global brokers and cedents.
David Santander Díaz, Director of Transformation and Technology, Nacional Re, commented, “This partnership marks a significant leap forward in reinsurance operations, as we now seamlessly integrate standardized document processing for technical accounts.”
Chris Newman, Executive Vice President and Global Managing Director, ACORD, said, “With the rapid digitalization of our industry, insurers must implement capabilities that enable faster, more efficient ways of accessing and exchanging data.
“Through ADEPT and ACORD Transcriber, Nacional Re can realize the benefits of standardized digital data exchange, streamlining their processes and enabling greater connection to trading partners across the industry.”
