Lockton Re, the reinsurance arm of the global brokerage, has partnered with Nephila Capital to help release Lockton Re SAGELink Automated Placement Solutions.
It’s hoped this new capability will automate the process of price discovery between reinsurance intermediary broker and reinsurer.
Its designed to allow a tighter integration of treaty visualisation features with reinsurer underwriting workflow management, producing new value for cedents.
Claude Yoder, Global Head of Analytics at Lockton Re, said: “Continuing our investment in technology & innovation, Lockton Re has initially partnered with Nephila Capital, the largest catastrophe insurance-linked securities manager in the world, to create a fully automated submission to quoting capability.
“Marrying best in class analytics and forward-looking technology, Lockton Re and Nephila have each deployed custom-built APIs which, via Lockton Re SAGELink, enable Lockton Re to uniquely identify, model, submit and receive pricing of reinsurance on behalf of cedents.
“These new digital broking features are a truly unique capability within the marketplace and a credit to our commitment to leading through innovation and the talented analytics and technology teams at both firms.
“This technology enables sophisticated scripting of catastrophe modelling, submission bundling, and quote workflows. It has moved the technology needle for the re/insurance industry.”
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