Cedent Reporting Automation: Replacing Manual Excel Processes
Cedents spend weeks each month submitting bordereaux and loss reports to reinsurers. Automation software can reduce reporting time by 80% and improve accuracy.
Cedent reporting is a monthly compliance nightmare. Insurance companies must compile premium bordereaux, loss bordereaux, and claims reports from multiple lines of business, validate data against treaty terms, and submit to multiple reinsurers in different formats. This manual process consumes weeks and is error-prone.
The Cedent Reporting Problem
Cedents manually compile bordereaux from policy administration systems, aggregate by treaty, validate percentages and limits, and format for reinsurer submission. Each reinsurer may require different formats, creating duplicate work. Processing errors and late submissions damage broker relationships.
Automation Solutions for Cedents
Automation software extracts data from cedent systems automatically, validates against treaty terms in real-time, formats data for each reinsurer's requirements, and enables electronic submission. A London broker reduced monthly reporting time from 15 days to 3 days using automated cedent reporting.
- Automated data extraction from policy systems
- 80% reduction in reporting time
- Multi-format reinsurer submission support
- $600K annual savings (broker case study)
Benefits Beyond Efficiency
Faster reporting improves cash flow (earlier premium payments), reduces errors (fewer resubmissions), and strengthens broker-reinsurer relationships (predictable, accurate data). Cedents reporting faster gain competitive advantage in placement timing.
Conclusion
Cedent reporting automation transforms a tedious monthly process into automated workflow. Cedents and brokers using automation gain efficiency, accuracy, and competitive advantage through faster, more reliable data submission.
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