MUNICH, GERMANY, January 24, 2023 – msg group, a leading consulting, implementation, and managed services provider for the (re)insurance industry, today announced that it has selected ACORD Solutions Group’s ADEPT platform to connect its clients across the (re)insurance community. ADEPT (ACORD Data Exchange Platform and Translator) facilitates real-time data exchange, translation, and transformation, and links trading partners across the global insurance industry.
An ACORD Solutions Group Licensed Integrator Partner, msg will leverage ADEPT for Global Reinsurance and Large Commercial (GRLC) to support SAP S/4HANA Reinsurance Management (formerly FS-RI), a joint solution of SAP and msg, and allow its (re)insurance clients to connect with inward and outward (re)brokers, cedents, and (re)insurers regardless of their eMessaging capabilities. Integration with ADEPT will enable msg clients to send and receive ACORD GRLC accounting and claims messages, streamlining interactions between (re)insurance stakeholders around the world, including Ruschlikon participants. This will particularly benefit msg clients who are cedents, expanding GRLC usage in a community that has historically not realised the benefits of standardised data exchange. In addition, msg’s roadmap includes integration of ADEPT’s Treaty Placement functionality, in order to provide its reinsurance clients with end-to-end placement, accounting, and claims automated data exchange capabilities in the future.
“In the past years, we have seen a strong move towards the exchange of structured data in a digital way. We are incredibly happy to closely collaborate with ACORD Solutions Group to offer our nearly 70 customers of SAP S/4HANA Reinsurance Management a solution to streamline their processes with ADEPT”, shared Dr. Christoph Pfluegler, msg’s Head of Reinsurance Products Development.
“msg group is a key partner in the European (re)insurance industry, and we are delighted to support its wide community of (re)insurers, (re)brokers, cedents, and others through our cutting edge digital solutions,” shared Chris Newman, ACORD’s Managing Director – Global. “The integration of ADEPT will help expand ACORD GRLC Standards adoption and advance digitalisation for a variety of participants in the global insurance industry, especially within the cedent community.”
msg is an independent, international group of companies with more than 9,000 employees around the world. It offers a holistic service spectrum of creative, strategic consulting and intelligent, sustainable, and value-added IT solutions for the following industries: automotive, banking, food, (re-)insurance, life science & healthcare, manufacturing, public sector, telecommunications, travel & logistics, as well as utilities, and has acquired an excellent reputation as an industry specialist during its 40 years in business. msg has developed to a leading provider of reinsurance solutions as well as consulting over the past 35 years. SAP Reinsurance Management, a joint solution of SAP and msg, is used by four out of the five largest reinsurance organizations and has been implemented at nearly 70 customers by msg.