Ariel Re selects Lockton Re’s electronic placement system

Bermuda-based reinsurer Ariel Re has partnered with Lockton Re, the reinsurance arm of the independent broker, to improve its placement process.

The agreement will see Ariel Re use Lockton Re’s Sagelink electronic placement system.

According to Claude Yoder, global head of analytics at Lockton Re, the use of Sagelink “will allow for better alignment of treaty analytics and visualisation features with reinsurer underwriting workflow management, producing new value for cedents”.

The Sagelink system, which is part of Lockton Re’s Sage platform, uses APIs to connect the platforms of different entities and employs visualisation tools to illustrate risk impacts on a book of business.

The deal is also indicative of insurers’ efforts to employ more digital technology for processes such as pricing and placement, which have been reliant on manual intervention and spreadsheets in the past.

“Ariel Re is supportive of initiatives that bring efficiency and enhancement to trading platforms,” said Ariel Re CEO Ryan Mather.

“This expansion in digital broking illustrates the innovation as well as the talented analytics and technology teams at both Ariel Re and Lockton Re.”