Ascot Group has announced that it has selected Supercede Technology to prepare and manage all of its future reinsurance treaty placements.
In a release, Ascot explained that Supercede’s solution allows it to cut data at a later point to offer more up-to-the minute information. The improvements in data management also allow easy reconciliation of data, the insurance group said, so that more time can be spent on deal structures and finding the best markets to support renewals.
A company release also noted that this partnership comes after Ascot undertook the scaled pilot of Supercede’s solution for the mid-year 2022 renewals. It was during this period that Ascot saw the opportunity to utilise Supercede’s data validation, cleansing, and profile creation capabilities to boost its future speed-to-market, as well as enhance the quality of underlying submission data.
“This is a well-designed product that can reliably help us with data challenges; importing, compiling, and organising reinsurance data in a meaningful way is difficult even at the best of times,” said Ascot head of reinsurance Greg Waide. “Supercede helps to ensure our data is well structured and sent out in a very timely manner.”
“Ascot has a reputation for agility and underwriting discipline,” commented Supercede CEO Jerad Leigh. “We’re delighted to have the chance to help Ascot further highlight and enhance that reputation with the use of the Supercede platform. We’re looking forward to working with all of Ascot’s partners to make reinsurance easy for many years to come.”
Last month, Ascot updated the responsibilities of Jonathan Zaffino – who had served as group president of the company since 2020 – by giving him the chief executive role. Zaffino succeeds Andrew Brooks, who has retired but remains a board member of Ascot.
