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Oct 1, 2024

SIGNAL IDUNA Reinsurance Ltd Selects ACORD Solutions Group’s ADEPT to Automate Digital Data Exchange

ZUG, SWITZERLAND, October 1, 2024 – Swiss reinsurer SIGNAL IDUNA Reinsurance Ltd (SI Re) announced today that it will leverage ACORD Solutions Group’s ADEPT to support their digital automation expansion. 

ADEPT (ACORD Data Exchange Platform and Translator) enables the seamless exchange of accounting, claims, and placing data with stakeholders across the global insurance ecosystem, regardless of their digital enablement. SI Re will use ADEPT’s Receiver Portal and Application Programming Interface to receive standardised B2B accounting messages, automating its data exchange with digitally enabled brokers and cedents. Using ADEPT’s integrated ACORD Transcriber document model library, SI Re will also be able to digitise non-B2B accounting documents, streamlining and automating its data extraction capabilities.

This implementation of ADEPT will eliminate time- and labour-intensive manual rekeying processes for SI Re. By automating these processes and enabling more accurate, efficient, and timely data exchange, SI Re will facilitate stakeholder interactions and efficiency across the organization.

Adrian Suter, Head of Finance at SI Re, stated, “We are pleased to announce the digitalisation of our technical accounting and claims processes through ADEPT. This initiative streamlines our operations. This milestone enhances efficiency, accuracy, and transparency in our business. Our dedication to exceptional service ensures that our clients and stakeholders benefit from greater precision and speed in financial transactions.”

“This latest integration of ADEPT is an exciting step forward toward market-wide digitalisation in the (re)insurance space,” said Chris Newman, President International, ACORD. “SI Re’s implementation of ADEPT enables full-scale automation of digital data exchange, eliminating time-consuming rekeying processes and facilitating further connectivity with market partners.”

About SIGNAL IDUNA Reinsurance Ltd 

SI Re was founded in 2003 in Zug, Switzerland and focuses on European markets and non-life lines of business and is part of the SIGNAL IDUNA Group in Germany. SI Re offers its cedents a reliable and long-term reinsurance alternative. The company uses its longstanding experience and market expertise to support their clients in managing their business requirements. For more information, please visit www.sire.ch