The process starts when the cedent renews the applicable deal in Supercede. From there, please follow the steps below.
You will receive an email indicating that your deal has been renewed.
The deal will initially be in draft stage and will contain data carried over from last year’s deal. All carried-over information should be reviewed and updated as required.
Update the layers, limits and other structure details as per this year's suggested terms.
Layers can be duplicated to save time when creating additional or new layers on the deal.
Options are used to provide cedents with choices and alternative structure configurations. In most cases, there’s no need to create a new option unless there are significant changes to this year’s structure.
Review the markets tab and add any new or proposed markets, remove any known markets not participating this year.
Select the markets with the name & syntax “Offline UW''.
These offline markets have been created by Supercede to allow for reinsurer information (quote, authorisations, subjectivities etc) to be recorded digitally by you on behalf of the reinsurer.
Depending on your cedent's guidance, quotes need to be submitted via Supercede or offline (email).
Skip quoting
Click 'Skip quoting' to bypass the quoting process. Go to step 6.
Start quoting
Click 'Start quoting'. Add quotes and any quote subjectivities on behalf of markets.
Add any relevant documents to the documents tab.
Once complete, click "stop quoting".
BREAK: The cedent will work in the deal:
Review all quotes, if applicable.
Notify of changes to terms via email, if applicable.
Update all layer, pricing information to reflect the agreed order terms as cedent communicates any changes to terms via email.
Send the deal to the cedent to digitally approve firm order terms on Supercede.
The deal will be pending approval while the cedent conducts their review.
Once approved, you'll receive an email notification and a green banner will show on the platform and the cedent will move all layers or the required layer to the FOT stage.
BREAK: The cedent will work in the deal:
Review firm order terms.
Approve / decline firm order terms.
Start the FOT.
Add written lines for all applicable layers as they're received from markets using the edit authorisations signings tab.
If you don't see the required stamp contact: support@supercede.com.
Depending on your cedent's guidance, subjectivities need to be submitted via Supercede or offline (email).
Add subjectivities and any non-binding comments using the subjectivities tab.
BREAK: The cedent will work in the deal
Approve / decline all subjectivities, if applicable.
Review all submitted written lines.
Enter final signed lines and select a market or Lloyd's lead for each layer.
Send to the cedent for approval.
The cedent will review the suggested final signed lines and needs to approve them before the deal can be bound.
BREAK: The cedent will work in the deal
Approve / decline final signed lines.
Bind deal.
Add the final contracts (slips) and wordings to the documents tab.
Add the finalised cover notes (EoC) to the documents tab
The cedent will receive a copy of the cover note (EoC) via email from Supercede.