Xceedance, a global provider of strategic operations support, technology, and data services to insurance organizations, announced the launch of burst capacity catastrophe modeling resources to support reinsurers during peak renewal times.
In the lead up to a renewal, reinsurers see a significant increase in their catastrophe modeling team’s workload because of higher demands in deal pricing, coverage considerations, renewal comparisons, and data quality measurements of cedants. In addition, there is a requirement for a deeper understanding of their portfolio when deciding their capacity commitments.
Xceedance can provide experienced catastrophe modelling resources, utilizing the platforms licensed by reinsurers, to help augment their capacity during peak reinsurance times, usually April to May and November to December.
“As a technology enabled service provider, the Xceedance team has observed how prospects and clients can struggle with qualified catastrophe modelling resources at peak reinsurance times when there is a significantly higher volume of work, over and above the business-as-usual requirement,” commented Isabelle Clausner, vice president, Client Executive EMEA, at Xceedance.
“Some clients have asked for short-term resources from our team to help address this problem. With our deep knowledge of reinsurance processes and skills in key catastrophe modelling platforms we have successfully provided those resources at a very cost-effective rate,” Clausner added.
On-demand catastrophe modeling services include:
- Provision of “burst capacity” resource(s) on short term (2 month) contracts to function as an extension of in-house resources during peak periods.
- Treaty underwriting support with modeling of treaties in cedants/ programmes and accounts.
- Ability to manage simple and complex reinsurance structures including top and drop, inuring treaties, and multiple coverages.
- Updated pricing templates and other reports for each cedant where modeling is required.
- Deep-dive analysis of cedent exposure, loss insights, year-on-year comparisons.
- Understanding and interpretation of results and communication of that to underwriters with the ability to explain the risk view and details.
- Post-bind treaty reconciliations and portfolio roll-up activities.
Topics InsurTech Tech Reinsurance
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