Creating a More Informed Reinsurance Future

Human beings are known to be good at a myriad of different things, and yet their greatest ability is the one that allows them to get better on a consistent basis. This progressive approach, on our part, has already fetched us some huge milestones, with technology emerging as quite a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, based on its skill-set, which realized all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, if we take a closer look, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through every viable avenue, but even after achieving a feat so monumental, technology will somehow continue to produce the right goods. The same has grown more and more evident in recent times, and assuming a new fintech-related development shakes out just like we envision, it will only put that trend on a higher pedestal moving forward.

TAI,   a St. Louis-based leading provider of reinsurance administration software and services, has officially launched an intuitive reinsurance analytics solution called TAI Insights, which is designed to help users in improving their granular-level reinsurance operations, and therefore, scale up their overall reinsurance portfolios. According to certain reports, TAI Insights’ solution makes it possible for the relevant clients to access a powerful analytics toolset, a toolset that equips them with various features like the option to monitor overall and individual treaty performance, and actively spot emerging experience from their book of business. Apart from that, the toolset also empowers every single client in terms of getting a quick and more accurate assessment of elements related to client/policyholder concentration risk. This, in particular, is expected to deliver great utility for any organization that is trying to strike an optimal balance between their reinsurance program and their corporate risk appetite.

Another reason why TAI Insights is such a pivotal development is centered upon the encouraging track record of its creator. You see, founded way back in 1975, TAI has literally managed to reinvent the entire reinsurance game, and it has done it all through a neatly-constructed platform, which offers a seamless pathway to administer and self-report all reinsurance business, including ceded, reinsured, and retroceded, in an electronic format to share with the client’s insurance partners. Such versatility, notably enough, brings substantial value during the process of identifying and solving reinsurance risk. Furthermore, it also provides both short-term and long-term resource assistance to the table.

At present, it is understood that over 90% of the top 50 insurers in North America, by life face amount issued, rely on TAI to facilitate their reinsurance administration procedure.

“At TAI, we strive to drive administrative efficiencies while reducing operational and financial risk for our clients,” said Brian Traxler, Senior Vice President of Business Development at TAI. “With our new Insights tool, clients can analyze, evaluate, and make decisions about their reinsurance portfolio at the press of a button, in ways they could not do before.”

In order to conceive a holistic a toolset, TAI has partnered with Commotion, a company aiming to simplify big data analysis, insights, and data collaboration for the purpose of creating more tailored insurance and finance products.