Xceedance offers on-demand cat modelling for renewal spike challenges

Property/casualty insurance technology provider  Xceedance has unveiled the launch of “burst capacity” catastrophe modelling resources to support reinsurers during peak renewal times.

Xceedance will offer catastrophe modelling resources, utilising the platforms licensed by reinsurers, to help augment their capacity during peak reinsurance times, usually April to May and November to December.

In the lead up to a renewal, reinsurers see a significant increase in their catastrophe modelling 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, the company explained.

Isabelle Clausner (pictured), vice president, client executive EMEA at Xceedance, said: “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. 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.”

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