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IDP introduces CedeRight-powered reinsurance services

IBR Staff Writer Published 02 June 2017

SaaS core systems and services provider IDP has launched reinsurance services powered by CedeRight.

The company's partnership with DataCede and authorized reseller agreement brings new functionality for property and casualty (P&C) insurers.

IDP Reinsurance Services-powered by CedeRight will help customers to reduce costs and streamline reinsurance administration through avoiding huge licensing fees, maintenance fees, and upgrade charges.

The SaaS solution will enable to maintain all complex reinsurance structures, including treaty and facultative, assumed and ceded, quota share/proportional, excess of loss and others.

Additional features of the solution included advanced processes for billing production, comprehensive audit trail for all calculations, statements and bordereaux reports, as well as reporting capabilities with real-time reports.

IDP president Dave Kerford said: "Working with P&C insurer clients of all sizes, it was easy to see the need for comprehensive reinsurance functionality across the spectrum.

"DataCede's reinsurance services solution, combined with IDP's SaaS-based core systems and services fill that need perfectly and deliver benefits for the entire insurance value chain."

DataCede sales and operations EVP Phil Masin said: "During the past year, IDP and DataCede teams have worked together to implement the CedeRight reinsurance administration system for a key customer.”

IDP offers SaaS core systems and services, in addition to comprehensive bureau reporting services for property and casualty (P&C) insurers, program administrators and residual market plans.

DataCede offers management consulting and technology solutions to insurance carriers, vendors and brokers.

Image: IDP president Dave Kerford. Photo: courtesy of Marketwired / IDP.