Commercial re/insurance software provider AdvantageGo announced it will implement a comprehensive reinsurance and insurance-linked securities (ILS) solution for MultiStrat, a Bermuda-based reinsurance firm focused on ILS and casualty-linked securities (CLS).
AdvantageGo also revealed that the central component of this solution will be its AdvantageGo Underwriting Workbench.
The workbench serves as the company’s primary platform, offering enterprise-scale underwriting management within a single interface. It is designed to improve workflow efficiency by providing centralized visibility, management, and automation of routine tasks, facilitating more efficient underwriting processes.
The workbench enhances the handling and integration of data and analytics from various internal, client, broker, and third-party sources. This integration aims to improve underwriting decisions by delivering curated insights in real time.
MultiStrat specializes in reinsurance and capital advisory, offering tailored risk solutions through broker partnerships. It also provides a platform for alternative asset managers, family offices, pension funds, and other institutional investors to engage in reinsurance through diverse investment channels, including individual transactions, managed accounts, and independent reinsurance company formations.
The decision by MultiStrat to adopt the AdvantageGo Underwriting Workbench was driven by several key features, including the platform’s ability to support workflow orchestration and insight across MultiStrat’s underwriting, actuarial, and capital management teams.
Other factors influencing MultiStrat’s choice included integration with Aon’s pricing tool Tyche, automation of cross-team data capture, enhanced data extraction from complex commercial insurance documents, and integrated ledger and document generation capabilities.
AdvantageGo’s integration capabilities also provide end-to-end automation for submission ingestion, underwriting, capital management, and investor profiling, which MultiStrat intends to leverage to streamline alignment with capacity allocation requirements.
The implementation will draw on resources across the AdvantageGo ecosystem, notably the Insurants AI-driven data extraction tool, designed to automate data transformation and pre-process data before Workbench risk generation.
Ian Summers, global business leader at AdvantageGo, stated that the partnership represents an opportunity to work with a Bermuda market specialty reinsurance firm.
“Combining insurance linked securities (ILS), casualty reinsurance business, and capital market investors, will be a great canvas to get the most out of AdvantageGo’s Underwriting Workbench,” Summers said.
MultiStrat’s chief underwriting officer, Kier James, commented that the partnership with AdvantageGo aligns with the firm’s current phase of rapid growth.
“We believe that our partnership with AdvantageGo will allow us to better service the needs of our investors, clients and broker partners,” James said.
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