DataCede: Cloud-based Affordable Reinsurance Processing Service

CIO VendorJoseph Zarandona, CEO
Across the world, many multinational insurance companies that hunkered down to conserve capital and trim expenses are now ready to invest big in technology. There is an immense demand by insurance companies to fully utilize technology to gather information, track analytics, and keep ahead of the competition. However, many insurers, burdened by massive legacy systems have to catch-up with new entrants in the marketplace that have embraced the cloud and SaaS model. Founded in 2009, DataCede provides reinsurance solutions to small and mid-sized insurance carriers to capitalize on changes in the technology landscape without incurring heavy costs. The company leverages years of operational and business technology experience to deliver first class service and tools to their customers, identifying core issues faster while reducing costs and maximizing ROI.

“There are very few mid-sized insurance consulting firms with strong technology expertise. The big players do not offer value, as they are too pricey for the small and midsize carriers and the smaller consulting boutiques are not well equipped and don’t have the required experience. DataCede fills this void,” states Joseph Zarandona, CEO, DataCede. The company’s flagship solution is their automated reinsurance and administration system, CedeRight which is a SaaS reinsurance processing model.

Using this solution, companies of all sizes can manage their reinsurance exposures, identify recoveries, process ceded and assumed contracts, and access a comprehensive audit trail. With one monthly fee and no maintenance charges, CedeRight utilizes the newest technology and is cloud delivered. The solution automates bill production and provides a full audit trail for all calculations, produces statements, bordereaux, cover letters, footnotes, supporting details, and email integration. “CedeRight is the most sophisticated product in the market today and makes reinsurance
administration simple, easy to use, and it can be up and running in weeks not months,” he explains Zarandona. According to Zarandona, mid-size companies are often caught in a difficult position—they possess just enough IT resources to maintain what they have but not enough resources to take on new development work. DataCede’s robust technology solutions ensure their customers a leg up on competing in this marketplace. One of DataCede’s clients who do over 50 percent of its business via the web wanted to increase their growth three fold in the next five years. With an IT resource that was stretched very thin they needed not only a technical roadmap, but the value of offshore development combined with onshore staff and oversight. In just under 20 months, DataCede worked in tandem with the client’s IT staff to rewrite, reengineer, and refurbish their entire customer delivery systems. “The results of our efforts have been immediate. They are now able to process more business, have analytics and metrics to tweak their offerings, and a potent technical platform on which they can build for the future,” remarks Zarandona.


CedeRight is the newest, most sophisticated SaaS product in the market and makes reinsurance administration simple and easy to use


Looking ahead, DataCede will continue to launch cloud-based insurance products and grow their abilities to integrate disparate systems for carriers. “In the near term, we’re focused on working with our clients who have unique market challenges and cost pressures. We find that these clients, especially those who are personally invested in the success of their projects, not only challenge us technically but make the best partners. We firmly believe that by doing exceptional work, our clients directly benefit and refer us to others,” concludes Zarandona.

Company
DataCede

Headquarters
Princeton, NJ

Management
Joseph Zarandona, CEO

Description
Provides first class service and tools to customers, identifying core issues faster while reducing costs and maximizing ROI