1 July 2021News

TAI unveils new AI-driven platform for treaty management

Tindall Associates (TAI), a provider of reinsurance administration software and services that serves clients in Bermuda and internationally, has launched TAI Treaty, a digital solution for treaty management.

TAI Treaty is based on data extraction technology called SortSpoke that uses machine learning to turn documents into data. It allows life re/insurers to digitise, store, search, and export key treaty data more simply. It produces a data warehouse containing all treaties, amendments and related documents​, providing search functionality to easily navigate and export information​.

TAI, which is part of the RGAX family of companies, serves the life insurance industry and specialises in reinsurance administration software, and more recently added reinsurance services to expand its suite of offerings. The TAI platform allows clients to administer and self-report all reinsurance business, both ceded, reinsured, and retroceded, in an electronic format to share with their reinsurance partners.

Tom Freitas, chief executive officer (CEO) at TAI, said accessing treaty information has traditionally been time-consuming, expensive and non-repeatable. “The digitisation of the reinsurance treaty data is a giant leap forward in solving a difficult problem that exists in the reinsurance ecosystem today,” he said.

Jasper Li, CEO at SortSpoke, said:  “TAI's global team are experts at interpreting complex insurance and reinsurance treaties. It was rewarding to see SortSpoke's artificial intelligence (AI) learn from their expertise to deliver faster results to customers.”