TAI (Tindall Associates, Inc.), a leading provider of reinsurance administration software and services, today announced the launch of TAI Treaty, a revolutionary digital solution for treaty management. TAI Treaty leverages SortSpoke, a breakthrough data extraction technology that uses machine learning to turn documents into data.
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TAI Treaty is a unique offering not currently available anywhere in the market that will allow life insurers and reinsurers to effortlessly digitize, store, search, and export key treaty data. TAI Treaty produces a data warehouse containing all treaties, amendments, and related documents, and provides search functionality to easily navigate and export information.
“The digitization of the reinsurance treaty data is a giant leap forward in solving a difficult problem that exists in the reinsurance ecosystem today,” said Tom Freitas, CEO, TAI. “Over the course of my career, accessing treaty information has been time-consuming, expensive, and non-repeatable. As an industry we have only made incremental progress in addressing this gap, so I am extremely excited about this new product.”
“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,” said Jasper Li, CEO, SortSpoke. “Our thanks to TAI’s leadership for seeing the potential of AI and for being at the forefront of applying it to the insurance industry.”
For nearly 40 years, TAI has served the life insurance industry specializing in reinsurance administration software and, more recently, adding reinsurance services to expand their suite of offerings. Through the TAI platform, clients can administer and self-report all reinsurance business, both ceded, reinsured, and retroceded, in an electronic format to share with their reinsurance partners.
TAI is part of the RGAX family of companies, which includes a comprehensive suite of solutions for the global insurance and reinsurance sector.
For more information about TAI, visit www.taire.com.
TAI is the market leader in life reinsurance systems in North America with clients in the United States, Bermuda, the Caribbean, United Kingdom, South Africa, and Hong Kong. TAI is focused on simplifying reinsurance administration through software and service solutions. TAI Software automates reinsurance administration for life, annuity and longevity business and TAI Services helps identify and solve areas of reinsurance risk. Over 90% of the top insurers in North America, by life face amount issued, trust TAI software for their life reinsurance administration.