Lockton Re is a global reinsurance broker that is pioneering advancements in data quality to meet the growing demand for accuracy and efficiency in the reinsurance sector. The collaboration positions the company as the inaugural major reinsurance broker to fully embrace Supercede’s treaty data preparation platform, recognising the platform’s increasing adoption among mutual clients.
In the intricate landscape of reinsurance, brokers like Lockton Re grapple with diverse data formats received from cedents, necessitating a time-consuming process of understanding, formatting, and cleansing data before drawing meaningful conclusions.
Lockton Re’s successful pilot with Supercede over the summer instilled confidence in the platform’s ability to automatically detect errors commonly found in submission data. Supercede’s innovative platform has the capability to ingest data in its native raw format, irrespective of its structure, swiftly transforming it into structured and cleansed data.
The platform’s advanced error detection and anomaly identification features further streamline the data refinement process, setting a new standard for efficiency and accuracy in reinsurance operations. Lockton Re’s commitment to embracing cutting-edge technology reflects its dedication to elevating client service standards in the dynamic reinsurance landscape.
“Our independence allows us to focus entirely on meeting our clients’ needs,” said Claude Yoder, Global Head of Analytics at Lockton Re. “By integrating Supercede’s automation technology, we can work more efficiently and provide unmatched service quality to our clients.”
Reflecting on the collaboration, Supercede CEO, Jerad Leigh, remarked: “Empowering industry trailblazers like Lockton Re epitomises our mission. Watching them leverage our technology to bolster their service quality and efficiency is deeply rewarding and reaffirms our goal to revolutionise reinsurance.
“Watching the speed of adoption amongst cedent reinsurance buying teams really inspired us to push on with the platform’s maturity,” Leigh added. “Now, having well-respected brokers onboard gives us a further vote of confidence as the go-to platform for reinsurance data processing.”
Author: Joanna England