Xceedance calls for data-led innovation in reinsurance

In a recent interview with Reinsurance News, Isabelle Clausner, Vice President and Client Executive, and Gavin Lillywhite, SVP Operating Leader UKI & Europe at Xceedance, shared their perspectives on some of the most pressing issues facing the insurance and reinsurance sectors.

The two executives discussed the need for greater product development, the role of data in attracting capital, and how artificial intelligence is reshaping operations and customer experience across the industry.

The reinsurance sector has been slow to address so-called “uninsurable” risks, according to Clausner, largely because of a lack of innovation. “Traditional risk pools are finite, the industry’s reluctance to fully leverage the vast amounts of data available hinders its ability to close the protection gap,” she said. Clausner noted that smarter use of data could help close the protection gap, expand insurable risk pools, and create new opportunities.

She added that recent conditions in the market have also shaped the industry’s approach. “The recent hard market has also lessened the drive to innovate with reinsurers posting robust results,” she said. “But the market is softening and will require a revitalised approach to innovation.”

On the subject of attracting alternative capital, Lillywhite highlighted the role of data quality in giving confidence to investors from outside the industry. “High-quality data is essential for attracting alternative capital from non-traditional investors, such as pension funds,” he explained.

He pointed out that advanced analytics, automation, and seamless access to information can make insurance-linked securities more appealing to new sources of capital. Lillywhite added that integrated technology can provide the granular insights needed for informed decision-making. He said: “Improved operational automation and seamless data access will enable greater trust and confidence in such investments.”

Both executives also discussed the integration of artificial intelligence into insurance. Clausner emphasised the need for insurer leadership to adopt AI as a core strategy and to develop skills in areas such as data science, model application, and interpretative analytics. “Strong collaboration between data scientists, underwriters, and compliance teams can ensure effective integration of AI into workflows,” she added.

Clausner further stressed that AI should enhance rather than replace human judgement, pointing to the importance of hybrid models that balance efficiency with accountability. She also noted that companies must address security and compliance, including preventing employees from using personal devices for business-related AI tools.

Managing General Agents (MGAs) were described as having a competitive edge because of their clean-slate approach. “MGAs benefit from a clean-slate approach that embeds cutting-edge technology into their operations from inception,” noted Lillywhite. Their lean structures, data-driven strategies, and ability to move quickly allow them to serve niche markets and keep overheads low.

Lillywhite added that these factors translate into better customer experiences, scalability, and faster speed to market than many legacy carriers can achieve.

For both Clausner and Lillywhite, insurtech is not only about efficiency but also about transforming how customers interact with insurers. Lillywhite noted, “Insurtech is transforming the customer experience by integrating AI-led solutions that streamline processes, offer personalised services, and reduce turnaround times.”

Clausner pointed to AI-powered tools from Xceedance which automate claims and underwriting processes, and help insurers resolve issues faster and improve client engagement.

They also underlined the challenge insurers face in managing an increasingly complex network of technology vendors and platforms. Clausner added, “Xceedance simplifies the integration of new tech platforms by providing tech-driven integration managed services that leverage AI and intelligent automation.”

The executives concluded that a consultative approach and scalable frameworks allow clients to adopt new technology without disrupting their core operations.