What it takes to become experts in your outwards reinsurance needs

What it takes to become experts in your outwards reinsurance needs

Irrespective of your specialist field, few would argue against the wisdom of surrounding yourself with deep subject matter expertise. The more specialist the field, the more necessary the expertise. Outwards reinsurance can rightly wear that ‘specialist’ badge.

Technology has a role to play and when delivered successfully, offers significant measurable business benefits to the Insurer. In this respect Cenata can point, via the subject matter expertise of its team, to significant levels of success over the last 20-plus years in the successful delivery of outwards reinsurance solutions to the London and International markets.

The days of the outwards reinsurance solution just being a calculator for all outwards contracts types have passed. The need now is for ‘one version of the truth’ from the gross to net calculation and real-time availability of that data for downstream analysis and reporting, along with easy connectivity to other systems within both the insurers environment and third-party systems.

"The past 20 years have been an expensive lesson for those insurers who missed the target of achieving high levels of automation from their outwards reinsurance systems."

 

The past 20 years have been an expensive lesson for those insurers who missed the target of achieving high levels of automation from their outwards reinsurance systems. Those lessons learned have come from having to apply spreadsheets, other applications, manual intervention and additional staff to underpin that fundamental lack of functionality and automation. These inefficiencies eat profits and increase administrative process costs year on year.

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How can an insurer move from this inefficient position onto a solution that delivers huge efficiency gains and process efficiencies whilst reducing risk and re-launches your commercial competitive edge?

The short answer - you need to work with a supplier who understands your systems and requirements as well as you do. In that way you have the confidence that comes from talking to somebody who shares your level of understanding, and has the subject matter expertise from having successfully led others on that journey.

Cenata’s ex XLPro team members now include:

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Cenata continue to grow its subject matter expertise team

We are delighted to have successfully recruited Becky Bruce to our team as a Senior Business Analyst. Becky, who was herself a user and implementation consultant for XLPro, thoroughly understands the issues around contract set up, configuration options and manual interventions. She is a significant addition to the team and widens the options for any XLPro customer considering a move away from the GLOBAL XLPro legacy platform, irrespective of the status of their current implementation.

We have also spoken to many XLPro clients who need, as an interim step to migrating away from XLPro, to stabilise their XLPro implementations. Those implementations are typically characterised by high levels of manual intervention and low levels of automation especially with regard to complex ceded contracts. For example, if a current XLPro implementation does not offer a straightforward migration path we can optimise automation as a precursor to designing a strategy for a successful move to Cenata SURE. We have the necessary subject matter expertise to support you in that initial process.

Commercial and business ‘drivers’ to move from XLPro can be many and varied. Discussions with XLPro users who are now moving or in discussion around that move have revealed the following concerns:

  • Unsupported versions and limited confidence in the upgrade path
  • Frustration with decreasing levels of support and training
  • No longer viable within a cloud environment with necessary Cyber and backup /restore protection
  • Very low levels of automation and costly manual processing
  • Performance and reporting issues


"With the unmatched subject matter expertise on GLOBAL XLPro that we now have at Cenata, we can work with you build a strategy that ensures a guaranteed cost-effective and painless migration to Cenata SURE"

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With the unmatched subject matter expertise on GLOBAL XLPro that we now have at Cenata, we can work with you to build a strategy that ensures a guaranteed cost-effective and painless migration to Cenata SURE. That is why we invest and will continue to invest in the best people.

If you would like to meet the team’ and understand more about this innovative approach to moving from your current legacy systems, please get in touch. We look forward to hearing from you. Call 020 3855 5506 or email 

 

 

Accreditations and Partners

Acord
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