Acord Solutions Group has launched the Adept Bermuda Regional Hub, offering one million free digital messaging transactions to new Bermuda-based clients in 2025. The initiative aims to accelerate the territory’s digital transformation in reinsurance and speciality markets.

“Bermuda is well known as a hotspot for the reinsurance and speciality markets, and giving new users one million free transactions will further accelerate the digitalisation of this market,” said Chris Newman, president international, Acord Solutions Group.

Adept, which stands for Acord Data Exchange Platform and Translator, allows insurers, brokers and reinsurers to seamlessly exchange placing, accounting and claims data. The Bermuda hub follows the success of similar initiatives in Europe and is part of a broader expansion into global reinsurance centres, including Singapore, Dubai and North America.

Nicole Kellenberger, co-chair of the Ruschlikon eAccounting and Claims Steering Committee, highlighted the impact of the Adept model in other regions. “The regional hub model has proved successful in Italy and Spain, helping firms transition from e-mail-based transactions to a fully digital workflow, with lower-than-expected adoption costs.”

Acord said firms using Adept have reported large efficiency gains, including a 70 per cent reduction in unallocated cash, 80 per cent improvement in data quality and 60 per cent reduction in manual effort for claims processing.