The latest from Supercede for you;
Supercede, the global reinsurance technology platform, has launched a new feature to automate the creation of Lloyd’s SRS (Syndicate Reinsurance Structure) returns.
This follows Supercede’s participation in Cohort 14 of the Lloyd’s Lab Accelerator programme which included a theme focused on reinsurance for the Lloyd’s market.
Transforming deal data
Highlighted by 70% of Lloyd’s Lab mentors as an area in need of improvement, the new feature will simplify SRS returns by transforming validated reinsurance deal data from its platform into ready-to-upload CSV files. By doing so it will ease the burden of mid-year and year-end reporting. It will be made available free of charge to all existing Supercede clients.
“The SRS return is one of those small-but-painful processes that’s universally dreaded across the market,” said Ben Rose, President and Co-Founder of Supercede. “Through our experience in the Lab, we realised we could solve it elegantly using data we already capture during placement. It’s a small example of how digitising reinsurance can deliver practical value – even in unexpected places.”
Supercede also unveiled the early direction of a broader initiative born from their Cohort 14 experience, developed in response to demand for improvements to the post-placement exchange of reinsurance data across stakeholders.
This discovery has opened the door to a new category of product focused on contract continuity and data sharing between cedents, brokers, and reinsurers after placement. Supercede is currently working with two development partners on this initiative and is inviting four additional companies to join an exclusive collaboration group to help shape the roadmap.
Rosie Denée, Head of Innovation, Commercial Education and Events, Lloyd’s said: “Supercede’s new product exemplifies the type of innovation we’re proud to have supported through the Lloyd’s Lab. Their solution demonstrates how technology can help streamline our most traditional processes, paving the way for a more efficient, digitally-enabled marketplace.”
Companies interested in joining the post-placement development group are invited to get in touch via www.supercede.com/contact.
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