Nacional Re Adopts ACORD Solutions Group’s ADEPT Platform

The Spanish reinsurer has adopted ADEPT for Global Reinsurance and Large Commercial (GRLC) to automate the digitization and exchange of accounting and claims data.

(Image credit: Víctor Elvira Ávalos/Unsplash.)

Spanish reinsurer Nacional Re (Madrid) has announced that it will leverage ACORD Solutions Group’s ADEPT for Global Reinsurance and Large Commercial (GRLC) to automate the digitization and exchange of accounting and claims data in insurance industry documents.

David Santander Díaz, Director of Transformation and Technology, Nacional Re.

ADEPT (ACORD Data Exchange Platform and Translator) and its integrated ACORD Transcriber service enable efficient data extraction and real-time data exchange with stakeholders across the global insurance ecosystem, according to a statement from the vendor. Nacional Re will utilize these solutions to extract and digitize data from accounting and claims documents and transform the data into ACORD Global Reinsurance and Large Commercial standardized messages that flow seamlessly into Nacional Re’s reinsurance system, the statement says.

Through the implementation of ACORD Transcriber and ADEPT, Nacional Re aims to eliminate time- and labor-intensive manual rekeying processes, instead automating these processes and enabling more accurate, efficient, and timely data exchange with global brokers and cedents.

“This partnership marks a significant leap forward in reinsurance operations, as we now seamlessly integrate standardized document processing for technical accounts,” comments David Santander Díaz, Director of Transformation and Technology, Nacional Re.

Chris Newman, EVP, Global Managing Director, ACORD.

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, according to ACORD Solutions Group.

Enabling Speedier Access and Exchange of Data

“With the rapid digitalization of our industry, insurers must implement capabilities that enable faster, more efficient ways of accessing and exchanging data,” comments Chris Newman, EVP, Global Managing Director, ACORD. “Through ADEPT and ACORD Transcriber, Nacional Re can realize the benefits of standardized digital data exchange, streamlining their processes and enabling greater connection to trading partners across the industry.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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