MultiStrat selects AdvantageGo’s Underwriting Workbench for streamlined ILS & reinsurance operations

AdvantageGo, part of Coforge, is set to implement a comprehensive reinsurance and insurance-linked securities (ILS) solution for Bermuda-based reinsurance group MultiStrat, centring on the AdvantageGo Underwriting Workbench.

AdvantageGo describes its Underwriting Workbench as a flagship platform which “enables enterprise-scale underwriting through a single pane of glass.”

“The workbench increases workflow efficiency to meet critical deadlines through centralised visibility, management, and administration. Automation of low-value tasks and workflow orchestration improve underwriting efficiency,” the firm added.

Specialty reinsurance and capital advisory firm MultiStrat reportedly chose the AdvantageGo Underwriting Workbench for its capabilities in workflow orchestration and insights across underwriting, actuarial, and capital management teams, meeting the decision-support needs of an ILS Underwriter.

Other reasons include integration with Aon’s pricing tool, Tyche, which supports the reinsurance casualty rating process; increased efficiency throughout the underwriting process via automation of cross-team data capture and tasks aligned with MultiStrat’s workflows; advanced data extraction capabilities from complex commercial insurance documents; an integrated general and technical ledger; and document generation capabilities.

“This deployment of the AdvantageGo Underwriting Workbench will benefit from the broad capabilities across the AdvantageGo Ecosystem, particularly by utilising Insurants’ AI-driven data extraction tool for automated data transformation, data triage prior to Workbench risk generation,” AdvantageGo continued.

Ian Summers, Global Business Leader, AdvantageGo, commented, “I’m pleased to announce this partnership with an innovative Bermuda market specialty (re)insurance organisation such as MultiStrat.

“Combining insurance-linked securities (ILS), casualty reinsurance business, and capital market investors, will be a great canvas to get the most out of AdvantageGo’s Underwriting Workbench.”

Kier James, CUO of MultiStrat, said, “We’re delighted with our partnership with AdvantageGo. MultiStrat is currently undergoing a phase of rapid growth, and we believe that our partnership with AdvantageGo will allow us to better service the needs of our investors, clients and broker partners.”

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