MADRID, SPAIN, February 1, 2024 – Spanish reinsurer Nacional Re today announced that it will leverage ACORD Solutions Group’s ADEPT for Global Reinsurance and Large Commercial (GRLC) to automate the digitization and exchange of accounting and claims data in insurance industry documents.
ADEPT (ACORD Data Exchange Platform and Translator) and its integrated ACORD Transcriber service enable efficient data extraction and real-time data exchange with stakeholders across the global insurance ecosystem. Nacional Re will utilize these solutions to extract and digitize data from accounting and claims documents, and transform the data into ACORD Global Reinsurance and Large Commercial standardized messages that flow seamlessly into Nacional Re’s reinsurance system.
This implementation of ACORD Transcriber and ADEPT will eliminate time- and labor-intensive manual rekeying processes for Nacional Re, instead automating these processes and enabling more accurate, efficient, and timely data exchange with global brokers and cedents.
“This partnership marks a significant leap forward in reinsurance operations, as we now seamlessly integrate standardized document processing for technical accounts,” said David Santander Díaz, Director of Transformation and Technology, Nacional Re.
Integration of ADEPT also enables Nacional Re to receive standardized accounting and claims GRLC messages from digitally enabled broker partners around the world, driving greater connectivity between stakeholders.
“With the rapid digitalization of our industry, insurers must implement capabilities that enable faster, more efficient ways of accessing and exchanging data,” said Chris Newman, Executive Vice President and Global Managing Director, ACORD. “Through ADEPT and ACORD Transcriber, Nacional Re can realize the benefits of standardized digital data exchange, streamlining their processes and enabling greater connection to trading partners across the industry.”