Nacional Re to utilize ACORD platform for data exchange automation

Nacional Re to utilize ACORD platform for data exchange automation | Insurance Business Australia

Reinsurance

Nacional Re to utilize ACORD platform for data exchange automation

Integration will enable the reinsurer to receive standardized messages

Reinsurance

By
Kenneth Araullo

Spanish reinsurer Nacional Re has announced that it will adopt the ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform and Translator) for Global Reinsurance and Large Commercial (GRLC) to modernize and automate the processing of accounting and claims data within insurance documents.

ADEPT, along with the integrated ACORD Transcriber service, facilitates the extraction of data and enables real-time data exchange throughout the global insurance sector. This technology allows Nacional Re to convert data from accounting and claims documents into standardized ACORD GRLC messages, which can then be easily integrated into the company’s reinsurance systems.

This integration, it was stated in a Press release, allows Nacional Re to receive standardized GRLC accounting and claims messages from digital broker partners globally, enhancing connectivity and collaboration among industry stakeholders.

The adoption of ADEPT and the ACORD Transcriber is expected to reduce the reliance on manual data entry at Nacional Re, streamlining operations and enhancing the accuracy and speed of data exchanges with brokers and cedents worldwide.

“This partnership marks a significant leap forward in reinsurance operations, as we now seamlessly integrate standardized document processing for technical accounts,” Nacional Re director of transformation and technology David Santander Díaz said.

“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,” ACORD EVP and global managing director Chris Newman said.