Cedants’ reinsurance systems rely on numerous data sources: claims management, policy administration, CRM, BI reporting, actuarial calculations, reserves, and more. This information must follow a comprehensive process: it must be collected, verified, enriched, analyzed, and presented in a standardized format suitable for the renewal pack.

In practice, collecting and formatting this data is far from simple: the lack of integration between different IT systems, the diversity of data structures, and the insufficient quality of available information all significantly slow down the process. These difficulties often lead to wasted time, increased risk of errors, and, consequently, less reliable analyses.

Data governance establishes control, structure, and accountability throughout the data lifecycle, relying on several key areas:

• Defined Data Model: organizes reinsurance data (treaties, exposures, claims) and ensures compliance with business rules and regulatory requirements.
• Quality Standards: sets criteria for completeness, accuracy, and timeliness, using validation checks, profiling tools, and stewardship roles.
• Metadata and Lineage Tracking: tracks the origin, transformations, and usage of data to ensure auditability and transparency.
• Roles and Responsibilities clarifies ownership, access, and modification rights to strengthen accountability and collaboration.
• Policies and Compliance aligns practices with Solvency II, GDPR, and other regulations, ensuring data security, retention, and lawful sharing.

Sollers Consulting and Duck Creek Technologies have partnered to help insurers modernize their reinsurance operations. This partnership aims to support insurance and reinsurance companies worldwide.

At Sollers, we know that data quality is a critical success factor. This is also the belief of our partner, Duck Creek. In an environment with multiple, poorly integrated systems, having reliable, structured, and consistent information becomes a true strategic challenge for insurers and reinsurers alike.

The tools provided by Duck Creek and Sollers go far beyond simple data collection: they enforce data structuring standards, enhance data quality, and ensure consistency throughout the process. By centralizing and harmonizing information, these solutions give cedants the ability to reduce errors and increase operational efficiency.

Sollers Consulting will be present at the Rendez-Vous Septembre (RVS) in Monte Carlo from September 6 to 10. Our representatives, Marcin Jaremko, Consultant, and Michal Trochimczuk, one of our founders, will be on site with our partner Duck Creek to discuss current topics related to data management in the reinsurance sector.

This event will be the perfect opportunity to discuss your specific challenges, explore best practices in data management, and see how your information can be turned into a real strategic lever. Come meet us: we will be delighted to talk with you, explore your needs, and discuss potential opportunities for collaboration.

Come meet us - we look forward to discussing them with you.