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Hollard Insurance Group (Johannesburg) has selected reInsurTech Supercede’s (Telford, Shropshire) platform to prepare and manage outwards treaties from 2023, with one consistent, easily accessible format and more efficient submission preparation, according to a vendor statement. Hollard undertook a trial of the Supercede platform in autumn 2022 and immediately saw benefit in its ability to collate and process large amounts of underlying insurance data for presentation to reinsurance markets, globally, the vendor says.
Supercede reports a significant increase in demand for its technology throughout 2022, with hard market conditions driving demand for fast and reliable submission data. Supercede says it is gaining an increasing number of reinsurance participants joining its reInsurTech platform, with use of the software now in six out of seven continents.
“We are a small but committed reinsurance team, and Supercede has given us a new superpower,” says Elaine Harker, Head of Reinsurance, Hollard. “To have all of our data in one consistent, easily accessible format is one thing, to be able to do this whilst reducing the time ordinarily taken is an immense added benefit.”
Supercede describes its technology as supporting the entire reinsurance value chain for cedents who want better submission quality, brokers who want a better placement process, and reinsurers who want better access to risks and data. The company reports that its rapid expansion has led to over $24bn in underlying premium being processed on the Supercede platform during the January 2023 renewal season.
Making Reinsurance Management Easy Worldwide
“Hollard coming on board as the first African cedent to use Supercede is a testament to the boundless nature of our mission,” says Jerad Leigh, CEO, Supercede. “We want to make reinsurance easy for everyone, regardless of what market or territory they operate in. We look forward to many more exciting partnerships in the region.”