Supercede lays claim as first insurtech tied into the ADEPT treaty API
Reinsurance platform operator Supercede has fully integrated the industry’s ADEPT treaty reinsurance data exchange service and protocol, laying claim to position as the first insurtech to successfully interact with the API.
“One criticism of the reinsurance ecosystem that we hear from our broking partners is the issue of having multiple platforms doing business in multiple data formats,” said Ben Rose (Pictured), president and co-founder of Supercede.
The ADEPT treaty contract data exchange service was developed together with a consortium of the world’s largest reinsurers and brokers and launched in 2021 by the industry-owned subsidiary of global insurance standard-setting body ACORD. The system enables digital contract placements, with capacity for data exchange of submission, quote, order and signed line processing plus document exchange between sides.
“The reinsurance underwriting and broking community has been at the forefront of embracing the benefits of standardised insurance data exchange, leveraged through services such as ADEPT,” ACORD’s managing director Chris Newman said.
“Integrating with the major placing platforms gives these ecosystem-building initiatives the sustainability needed to drive adoption of common standards across the board.”
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