(Princeton University. Photo credit: Karl Thomas Moore.)
Duck Creek Technologies (Columbia, S.C.) has undertaken a partnership with vendor DataCede (Princeton) to make available the reinsurance solution vendor’s technology. DataCede’s cloud-based CedeRight reinsurance solution automates processing and administration of reinsurance activities for P&C insurers globally. The vendor is now part of Duck Creek’s Global Alliance Program.
“To serve the needs of our customers covering the complex reinsurance market it was imperative to align with a partner that had a proven comprehensive solution,” comments Eddie Jones, VP, Strategies and Alliances, Duck Creek Technologies. “The CedeRight solution gives insurers the automation they need to easily access data to make informed decisions quickly, and to better and more simply manage their reinsurance exposures.”
Historically, the processing and management of reinsurance has been highly manual or mired in inflexible legacy applications, asserts Phil Masin, EVP, Sales & Operations at DataCede. “CedeRight changes all of that, automating a full range of reinsurance processes and placing the latest analysis and reporting capabilities at companies’ fingertips,” he says. “And all of this on a software-as-a-service delivery platform, reducing the cost and business disruption associated with a traditional on-premises implementation. Small and mid-sized insurers can quickly move to managing their reinsurance business, rather than focusing on implementation.”
Extensive Domain and Technical Expertise
Through DataCede’s inclusion in Duck Creek’s Global Alliance Program the vendor’s extensive domain and technical expertise will benefit P&C carriers looking to automate processing and administration of reinsurance activities, a Duck Creek statement asserts. “Its easy-to-use functionality supports complex reinsurance structures, including assumed, ceded, facultative, and treaty, with fully automated calculations, processes, and billing, operational reporting, and analytics,” the statement says.