Increase the speed of data consumption and provide fast consolidated portfolio views and net positions
Delegated authority business is an important part of the global insurance market, providing policyholders with increased choice and capacity enabled by the extensive reach and expertise of managing agents. However the complexities and formats of data received by coverholders, and the mechanisms by which data is distributed by agents, create massive challenges for syndicates, coverholders and TPAs.
- Complex data formats prevent views of consolidated portfolios and net positions
- Manual data preparation creates information lags increasing expense ratios
- Current processes create operational inefficiencies and slows data consumption
- Out-of-date information for exposure management makes it difficult to allocate aggregates
- Current processes delay the adoption of new risk standards and regulatory requirements