Robert Lewis, CEO of INTX Insurance Software, emphasized that the company’s assumed and ceded reinsurance products are of interest because of their ability to manage complex reinsurance treaties and temporary contracts, with flexibility and configurability at the core of their value proposition.
INTX offers two reinsurance products: INTX Re, a purpose-built operating system for assumed reinsurance, and ReinsureConnect, a cloud-native, AI-ready system that centralizes and streamlines ceded reinsurance operations for carriers and front-line insurers.
Speaking to Reinsurance News, Lewis said there was significant demand for its reinsurance products, with demand coming from primary insurers.
He noted: “We have a number of really large companies interested in our reinsurance products, including Tier 1 to Tier 3 operators.
“The most important thing is the interest we get and the quality of the people we talk to. Tier 1 carriers are not going to give us time to offer just our core product, and on the reinsurance side we’re seeing a lot of interest.”
Lewis explains that INTX sees this traction as insurers look for more efficient ways to manage reinsurance and legacy systems are increasingly unable to support the growing complexity.
He said, “What’s actually happened in the legacy software market, and I’m talking post-mainframe green screen, is that a lot of systems have been developed out of broker platforms or broker systems and broker software systems. That means there’s no real functionality on the reinsurance side.
“So, you can manage policies and treaties, and it’s very much a siled solution. You have an underwriting solution, a separate claims solution, a separate billing solution, all of which work great in the context of the broker system, but there’s not really a reinsurance component.
“The reality is that there are some very basic quota sharing systems, and if you introduce complexities like floating commissions, it becomes very difficult to do anything. It’s not dynamic and it’s not real-time,” Lewis explained.
He added that the level of “shrinkage” was high, in some cases as high as 8%, meaning there was a material shortfall of up to $80 million in the multibillion-dollar reinsurance programs purchased by Tier 1 carriers.
Lewis continued: “Extra time was wasted because all everyone was doing was running Excel spreadsheets across data lakes and trying to manage those processes in a very manual format, rather than just dynamic, real-time updates. So it created a huge bottleneck throughout the insurance process and the lifecycle of the policy.”
“Reinsurance is often a very big bottleneck and the numbers involved are very large, especially with the increase in catastrophe risk that we’re seeing right now, floods, wildfires, hurricanes, things like that. That’s obviously becoming very critical for reinsurers to manage.”
INTX has shared the results of its latest research, which shows that from an operational and systems perspective, 72% of insurance companies still rely on Excel or homegrown systems to perform critical workflows. Additionally, more than 50% of policy workflows require manual intervention, creating delays and operational friction, and organizations cost organizations up to $450,000 in lost productivity annually due to system inefficiencies and downtime. The study also found that many operators operate two to three core systems, with total implementation costs as high as $3 million.
From a reinsurance perspective, the commonly referred to 1-2% “leakage” reflects only the recoverable amount. Over the life cycle (including structuring, placement, accounting and capital), the real impact is closer to 3-8%+ of the ceded premium.
The findings highlight the extent to which the reinsurance business remains constrained by fragmented systems and manual processes. Lewis emphasized that INTX removes a large portion of the burden from this complexity.
“Our presence in this market is really the ability to manage complex reinsurance treaties and temporary contracts. That’s our niche,” he said.
He went on to highlight how ReinsureConnect is modernizing the way insurers handle complex ceded reinsurance.
“We are designed to blend into the existing carrier and reinsurer environment rather than force a disruptive tear-and-replacement project,” Lewis said. “A major part of this is helping insurance companies clean up and unify fragmented data in a modern, real-time architecture.
“The platform is also built with operational accessibility and flexibility in mind. Insurers can adapt workflows, onboard partners and respond quickly to changes without relying on proprietary expertise or lengthy vendor development cycles.
“The combination of accessibility, configurability and modern architecture enables organizations to evolve their operations as business and market needs change.”
Lewis explained that from an operator’s perspective, a key focus for INTX is to enable flexibility to be able to quickly add new products and add and change structures.
He said: “The key is that this is not just a static system, once you buy it, you can’t do anything with it. To do anything to add new products, you’ll be running Excel spreadsheets and manual processes. The system can be adjusted very quickly to add new products, change commission structures, change loss layers, because on the reinsurance side, you have a reinsurer covering your first million dollar loss and they may cover the net portion from one to two million, and the reinsurer may have 50 “So, obviously it can be quite complicated.”
Lewis explained that because these 50 reinsurers may change throughout the year, or even on a daily basis, and that temporary reinsurers may be added if there is not enough capacity in the treaty, the primary underwriters need to be very active to make changes on a daily basis.
“We believe carriers and reinsurers don’t have to ‘line up’ every time they need to onboard a new partner or make operational changes,” Lewis said. “INTX is designed to give organizations the flexibility to manage these updates themselves through a simple, highly configurable platform.
“The goal is to achieve operational accessibility without sacrificing governance. Business users can make changes quickly without relying on proprietary expertise or extended vendor development cycles, while still maintaining the approval workflows and security controls required by insurance companies.”
Lewis added that INTX’s approach allows insurers to integrate modern capabilities into existing operating models while connecting and unifying data across systems to create complete operational visibility.
“The growth in business here is really resonating. So, I think that’s where we’re starting to see an influx right away,” he said.
