Supercede, the reinsurance technology platform, has introduced a new feature that automates the production of Lloyd’s Syndicate Reinsurance Structure (SRS) returns.
The feature was developed following Supercede’s involvement in Cohort 14 of the Lloyd’s Lab Accelerator, which included a focus on enhancing reinsurance workflows for the Lloyd’s market.
Addressing a commonly cited bottleneck in the market, the new capability transforms validated reinsurance deal data already managed within Supercede into CSV files ready for direct upload.
According to Lloyd’s Lab mentors, 70% identified the SRS return process as an area needing attention.
By removing manual work from mid-year and year-end reporting, the tool aims to reduce friction and save time for market participants. This feature will be provided free of charge to all current Supercede clients.
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“The SRS return is one of those small-but-painful processes that’s universally dreaded across the market,” said Ben Rose, President and Co-Founder of Supercede.
“Through our experience in the Lab, we realised we could solve it elegantly using data we already capture during placement. It’s a small example of how digitising reinsurance can deliver practical value – even in unexpected places.”
The launch of this functionality is just one outcome of Supercede’s recent collaboration with Lloyd’s Lab. Drawing on industry feedback during the programme, the company also began shaping a larger initiative aimed at improving how reinsurance data is exchanged after placement. This effort is intended to support better contract continuity and seamless collaboration between cedents, brokers, and reinsurers.
Supercede is currently developing this new solution with two partners and is now seeking four more companies to join a limited collaboration group. These participants will help influence the direction of the project and ensure it meets real market needs.
Rosie Denée, Head of Innovation, Commercial Education and Events, Lloyd’s added: “Supercede’s new product exemplifies the type of innovation we’re proud to have supported through the Lloyd’s Lab. Their solution demonstrates how technology can help streamline our most traditional processes, paving the way for a more efficient, digitally-enabled marketplace.”
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