ADEPT automates data transfer, reduces manual rekeying, enables digital data exchange with brokers and clients
NEW YORK, NY, July 25, 2022 – ACORD Solutions Group, the industry-owned subsidiary of ACORD, the global standards-setting body for the insurance industry, today announced the live deployment of ADEPT (ACORD Data Exchange Platform & Translator), a data exchange platform, at TransRe, the New York-based global reinsurer.
ADEPT provides real-time data exchange, translation, and transformation in order to link trading partners across the global insurance ecosystem. It connects stakeholders regardless of their level of digital maturity, and increases the timeliness, accuracy, and security of data flows between them.
In the first phase, TransRe (a longstanding member of the ACORD community) will use ADEPT to extract Proportional Treaty statement details from non-eMessage enabled brokers and clients, bypassing the need to manually rekey the information.
“This is an important step in our digital data management evolution,” said David Radford, Head of Finance for TransRe’s International division. “This software improves our ability to ‘read’ pdfs and spreadsheets without manual re-entry, reducing errors and enhancing our service to all clients and brokers.”
“We are pleased to help TransRe and its clients and brokers achieve next-generation data exchange capabilities,” shared Chris Newman, ACORD’s Managing Director – Global. “By streamlining inefficient manual processes, ADEPT enables our clients accelerate their digital transformation of our industry.”
Established in 1977, TransRe is the brand name for Transatlantic Holdings, Inc. and its subsidiaries (including Transatlantic Reinsurance Company). TransRe, wholly owned by Alleghany Corporation is a reinsurance organization headquartered in New York with operations worldwide. TransRe offers the capacity, expertise and creativity necessary to structure programs across the full spectrum of property and casualty risks. Please visit www.transre.com for more information.