Global technology and digital solutions provider, Xceedance is now offering on-demand catastrophe modelling resources to support reinsurers during peak renewal times.
In the lead up to a renewal, reinsurers see a significant increase in their catastrophe modelling team’s workload because of higher demands in deal pricing, coverage considerations, renewal comparisons, and data quality measurements of cedants.
In addition, there is a requirement for a deeper understanding of their portfolio when deciding their capacity commitments, the firm notes.
By utilising the platforms licensed by reinsurers, Xceedance argues it can provide experienced catastrophe modelling resources to help augment their capacity challenging times for reinsurers, usually April to May and November to December.
Isabelle Clausner, Vice-President, Client Executive EMEA at Xceedance, said: “As a technology enabled service provider, the Xceedance team has observed how prospects and clients can struggle with qualified catastrophe modelling resources at peak reinsurance times when there is a significantly higher volume of work, over and above the business-as-usual requirement.
“Some clients have asked for short-term resources from our team to help address this problem. With our deep knowledge of reinsurance processes and skills in key catastrophe modelling platforms we have successfully provided those resources at a very cost-effective rate.”
As part of its on-demand catastrophe modelling services, Xceedance will provide “burst capacity” resource(s) on short term (two months) contracts to function as an extension of in-house resources during peak periods.
It will also provide treaty underwriting support with modelling of treaties in cedants/programmes and accounts. As well as the ability to manage simple and complex reinsurance structures including top and drop, inuring treaties, and multiple coverages.
Xceedance’s services also include updated pricing templates and other reports for each cedant where modelling is required. A deep-dive analysis of cedant exposure, loss insights, year-on-year comparisons.
As well as understanding and interpretation of results and communication of that to underwriters with the ability to explain the risk view and details; and post-bind treaty reconciliations and portfolio roll-up activities.
