MultiStrat leverages AdvantageGo Underwriting Workbench for improved Operational Efficiency, Underwriting Productivity and Better Decision-Making

LONDON & BERMUDA: November 5th 2024 – AdvantageGo, a global commercial insurance and reinsurance software provider and part of Coforge, today announces that it is to implement a holistic Reinsurance and ILS solution – with the AdvantageGo Underwriting Workbench sitting at the centre – for MultiStrat, a reinsurance group headquartered in Bermuda specialising in insurance-linked (ILS) and casualty linked securities (CLS).

The AdvantageGo Underwriting Workbench is AdvantageGo’s flagship platform which enables enterprise scale underwriting through a single pane of glass. The workbench increases workflow efficiency to meet critical deadlines through centralised visibility, management, and administration. Automation of low-value tasks and workflow orchestration improve underwriting efficiency.

The workbench revolutionises the ingestion and integration of data and analytics from a range of internal, client, broker and third-party sources, ultimately driving more informed underwriting decisions with curated, contextual insights.

MultiStrat is a unique specialty reinsurance and capital advisory firm, delivering custom risk solutions for protection, capacity and growth for clients through its broker partners.

MultiStrat provides a platform for alternative asset managers, family offices, pension funds and other institutional investors to invest in reinsurance through individual reinsurance transactions, diversified separately managed accounts, or by creating independent reinsurance companies.

MultiStrat chose the AdvantageGo Underwriting Workbench for a number of reasons, including:

Workflow orchestration and insight, across MultiStrat’s underwriting, actuarial and capital management teams, supporting the exacting requirements of decision-support for an ILS Underwriter;
Integration with Aon’s leading pricing tool (Tyche), supporting the reinsurance casualty rating process;
Greater efficiency throughout the underwriting process through automation of cross-team data capture and tasks, aligning to MultiStrat’s workflows;
Advanced data extraction capability from complex commercial insurance documents;
An integrated general/technical ledger; and
Document generation capability.

Integration capabilities with third party systems provide end-to-end automation of submission ingestion, underwriting, capital management and investor profiling to meet the need for rapid underwriting alignment to capacity allocation. This deployment of the AdvantageGo Underwriting Workbench will benefit from the broad capabilities across the AdvantageGo Ecosystem, particularly by utilising Insurants’ AI-driven data extraction tool for automated data transformation, data triage prior to Workbench risk generation.

Ian Summers, Global Business Leader, AdvantageGo, commented:

“I’m pleased to announce this partnership with an innovative Bermuda market specialty (re)insurance organisation such as MultiStrat. Combining insurance linked securities (ILS), casualty reinsurance business, and capital market investors, will be a great canvas to get the most out of AdvantageGo’s Underwriting Workbench.”

Kier James, CUO, MultiStrat, commented:

“We’re delighted with our partnership with AdvantageGo. MultiStrat is currently undergoing a phase of rapid growth, and we believe that our partnership with AdvantageGo will allow us to better service the needs of our investors, clients and broker partners.”

About AdvantageGo

AdvantageGo helps insurance companies to look from an increasingly precarious future back to today. The difference is clarity. And profit. By bringing the future more efficiently and effectively into the present, we position insurers´ profits at the heart of their business – today, not tomorrow. Our pioneering platform and 25 years of experience mean AdvantageGo offers insurers the IT agility they need to create an intelligent digital strategy.

Learn more at www.advantagego.com

About Coforge

Coforge is a global digital services and solutions provider, that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. A focus on very select industries, a detailed understanding of the underlying processes of those industries, and partnerships with leading platforms provide us with a distinct perspective. Coforge leads with its product engineering approach and leverages Cloud, Data, Integration, and Automation technologies to transform client businesses into intelligent, high-growth enterprises. Coforge’s proprietary platforms power critical business processes across its core verticals. The firm has a presence in 21 countries with 25 delivery centers across nine countries.

Learn more at www.coforge.com

About MultiStrat

MultiStrat is a specialty reinsurance group headquartered in Bermuda that writes both prospective and retrospective casualty reinsurance sourced through select reinsurance intermediaries. MultiStrat, working with its investment broker dealer partners, places casualty Insurance Linked Security (ILS) transactions with alternative investors. MultiStrat’s reinsurance and capital advisory teams operate through both its Bermuda based Class 3A segregated accounts company and insurance agency, and Garden Insurance, its Vermont protected cell company.

Learn more at www.multistrat.com