Spanish reinsurer Nacional Re has announced its collaboration with ACORD Solutions Group’s ADEPT for Global Reinsurance and Large Commercial (GRLC) to streamline the digitisation and exchange of accounting and claims data within the insurance industry.
ADEPT (ACORD Data Exchange Platform and Translator) and its integrated ACORD Transcriber service facilitate efficient data extraction and real-time data exchange with stakeholders across the global insurance ecosystem.
According to reports, Nacional Re intends to leverage these solutions to extract and digitise data from accounting and claims documents, subsequently transforming the data into ACORD Global Reinsurance and Large Commercial standardised messages that seamlessly integrate into Nacional Re’s reinsurance system.
The implementation of ACORD Transcriber and ADEPT will eliminate manual rekeying processes, reducing time and labor-intensive tasks for Nacional Re. Instead, these processes will be automated, enabling more accurate, efficient, and timely data exchange with global brokers and cedents. This strategic partnership underscores Nacional Re’s commitment to enhancing operational efficiency and data integrity in the reinsurance domain.
“This partnership marks a significant leap forward in reinsurance operations, as we now seamlessly integrate standardised document processing for technical accounts,” said David Santander Díaz, Director of Transformation and Technology, Nacional Re.
Integration of ADEPT also enables Nacional Re to receive standardized accounting and claims GRLC messages from digitally enabled broker partners around the world, driving greater connectivity between stakeholders.
“With the rapid digitalisation of our industry, insurers must implement capabilities that enable faster, more efficient ways of accessing and exchanging data,” said Chris Newman, Executive Vice President and Global Managing Director, ACORD.
He added: “Through ADEPT and ACORD Transcriber, Nacional Re can realise the benefits of standardised digital data exchange, streamlining their processes and enabling greater connection to trading partners across the industry.”
Author: Joanna England
