New partnership news from AdvantageGo and MultiStrat;
AdvantageGo, a global commercial insurance and reinsurance software provider and part of Coforge, announces that it is to implement a holistic Reinsurance and ILS solution – with the AdvantageGo Underwriting Workbench sitting at the centre – for MultiStrat, a reinsurance group headquartered in Bermuda specialising in insurance-linked (ILS) and casualty linked securities (CLS).
The AdvantageGo Underwriting Workbench is AdvantageGo’s flagship platform which enables enterprise scale underwriting through a single pane of glass. The workbench increases workflow efficiency to meet critical deadlines through centralised visibility, management, and administration. Automation of low-value tasks and workflow orchestration improve underwriting efficiency.
The workbench revolutionises the ingestion and integration of data and analytics from a range of internal, client, broker and third-party sources, ultimately driving more informed underwriting decisions with curated, contextual insights.
MultiStrat is a unique specialty reinsurance and capital advisory firm, delivering custom risk solutions for protection, capacity and growth for clients through its broker partners.
MultiStrat provides a platform for alternative asset managers, family offices, pension funds and other institutional investors to invest in reinsurance through individual reinsurance transactions, diversified separately managed accounts, or by creating independent reinsurance companies.
MultiStrat chose the AdvantageGo Underwriting Workbench for a number of reasons, including:
- workflow orchestration and insight, across MultiStrat’s underwriting, actuarial and capital management teams, supporting the exacting requirements of decision-support for an ILS Underwriter;
- integration with Aon’s leading pricing tool (Tyche), supporting the reinsurance casualty rating process;
- greater efficiency throughout the underwriting process through automation of cross-team data capture and tasks, aligning to MultiStrat’s workflows;
- advanced data extraction capability from complex commercial insurance documents;
- an integrated general/technical ledger; and
- document generation capability.
Integration capabilities with third party systems provide end-to-end automation of submission ingestion, underwriting, capital management and investor profiling to meet the need for rapid underwriting alignment to capacity allocation. This deployment of the AdvantageGo Underwriting Workbench will benefit from the broad capabilities across the AdvantageGo Ecosystem, particularly by utilising Insurants’ AI-driven data extraction tool for automated data transformation, data triage prior to Workbench risk generation.
Ian Summers, Global Business Leader, AdvantageGo, commented:
“I’m pleased to announce this partnership with an innovative Bermuda market specialty (re)insurance organisation such as MultiStrat. Combining insurance linked securities (ILS), casualty reinsurance business, and capital market investors, will be a great canvas to get the most out of AdvantageGo’s Underwriting Workbench.”
Kier James, CUO, MultiStrat, commented:
“We’re delighted with our partnership with AdvantageGo. MultiStrat is currently undergoing a phase of rapid growth, and we believe that our partnership with AdvantageGo will allow us to better service the needs of our investors, clients and broker partners.”
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