Settlement processing at this Bermuda-based reinsurer was a recurring ordeal. Every cycle, multiple teams converged on the same underlying data - each maintaining their own version, their own spreadsheets, their own reconciliation processes.
When we mapped the workflow, the scale of the problem became clear. Multiple teams were handling the same settlement data, each maintaining their own spreadsheets. The team was spending more time reconciling systems than making decisions.
The process consumed days of senior time every cycle. And because the reconciliation was manual, errors were inevitable - which meant additional days spent investigating discrepancies, re-running calculations, and building confidence that the final numbers were correct.
As the firm grew and added more books, the settlement burden grew proportionally. Each new treaty meant more data to reconcile, more spreadsheets to maintain, and more senior time consumed by work that added no analytical value.
What we did
Rather than building a new settlement platform, we focused on connecting the systems that already existed. The data was there - it just moved manually between silos that should have been linked.
We designed structured data flows between the existing systems. Settlement data entered once was automatically validated, transformed, and routed to each team in the format they needed. Reconciliation that previously required manual comparison across spreadsheets now happens automatically, with exceptions flagged for human review rather than requiring humans to check everything.
We built full traceability into the process - every data point can be traced back to its source, every transformation logged, every exception documented. Better controls, and faster at the same time.
Why it matters
Settlement processing is one of the most visible operational bottlenecks in reinsurance. It touches every function, consumes senior time from multiple teams, and has direct financial and regulatory implications if it goes wrong.