CedeRight Continues to power P&C Reinsurance Policy Providers
CedeRight powers another Policy Provider
IDP, a developer of software and SaaS services for the property and casualty (P&C) insurance segment announced the launch of its reinsurance services powered by CedeRight®. In a new partnership with IDP, they are appointed as an authorized reseller of the CedeRight Reinsurance Administration System.
“During the past year, IDP and DataCede teams have worked together to implement the CedeRight Reinsurance Administration System for a key customer,” said Phil Masin, EVP of Sales and Operations for DataCede. “As part of the IDP value proposition, CedeRight gives P&C insurers the opportunity to administer and process reinsurance simply, while also providing workflow and operational efficiencies.”
P&C insurers can realize huge cost savings and streamline reinsurance administration work by leveraging IDP Reinsurance Services-powered by CedeRight, which provides robust features out-of-the-box with short implementation times while eliminating huge licensing fees, maintenance fees, and upgrade charges.
This SaaS solution supports all complex reinsurance structures, including treaty and facultative, assumed and ceded, quota share/proportional, excess of loss, and more. Additional key features include powerful automation processes for billing production, a comprehensive audit trail for all calculations, statements, and bordereaux reports, and robust reporting capabilities with real-time reports.