The e-trading platform aims to cut the time it takes for brokers to do administrative tasks in the deal-making process
Riskbook has rebranded as Supercede alongside revealing its global e-trading platform which aims to save brokers time on administration when deal-making.
The business was co-founded in 2019 by two former Aon bosses – Ben Rose and Jerad Leigh, as well as Jezen Thomas who was previously at Comparestack.
The Lloyd’s-approved firm aims to improve e-trading by cutting down the time it takes to deal with renewal packages from several months to two weeks, give access to better quality information and allow for greater access to different markets.
Leigh, Supercede’s chief executive added: “With a background in the business, we’ve seen first-hand how frustrating and time consuming some reinsurance processes can be. For instance, data submissions are a hugely complex and time-consuming process for cedents, while brokers spend too much time on compiling data rather than doing the deal, and reinsurers have to wait passively for ‘friendly brokers’ to bring them the best business.”
The news comes after an investment of £2m just four months ago, in the firm’s digital placement platform, which it will use to scale its business.
Hand-in-hand with brokers
Last year the firm appointed Paul Bassan as its chief actuarial officer, who was previously at insurtech Cytora. He looks after the development of analytics in Supercede’s ecosystem.
Rose, president at Supercede, said: “Our global platform was created in collaboration with the reinsurance community, working hand-in-hand with cedents, brokers, and reinsurers, so we know that it addresses their issues and enables them to focus on opening doors and closing deals with a wider global network, using actuarial-grade, single entry reinsurance data.”
Rose has also worked at Lloyd’s of London previously.