ReTech Reinsurance Brokers Co. has established itself as a technology-driven platform revolutionising reinsurance transactions throughout the MENA region. The company enables insurers and reinsurers to interact through a unified digital ecosystem, integrating intelligent automation, regulatory compliance, and real-time data access whilst streamlining workflows and ensuring alignment with local and international standards.
A landmark achievement came with ReTech’s swift implementation of a compliance solution addressing Saudi Insurance Authority Circular 296 in 2024. This regulation mandated that cedants offer 30% of each reinsurance placement to local reinsurers with comprehensive documentation and quarterly reporting requirements. ReTech’s purpose-built compliance module enabled over 30 insurance companies to achieve full compliance within just two quarters, demonstrating tangible impact on enhancing regulatory adherence and operational efficiency across the Saudi market.
ReTech’s comprehensive platform delivers measurable business impact, reducing placement cycle time by 45% whilst achieving 70% automation across core workflows. The integrated Enterprise Resource Planning system, marketplace matching engine, and automated accounting and claims processing provide speed, transparency, and operational control through structured stakeholder portals and client-specific dashboards.
The platform’s end-to-end digital workflow capabilities cover treaty and facultative placements, from initial placement through renewal. The local capacity module automates offers to Saudi reinsurers, providing instant notifications and maintaining a complete digital audit trail for regulatory reporting. Cloud-based document repositories ensure secure storage and instant retrieval of all placement documentation, contracts, and correspondence.
ReTech addresses critical industry gaps that have traditionally plagued reinsurance operations. By replacing manual workflows and reconciliation delays with automated processes, the platform eliminates fragmented reinsurer communication and provides comprehensive visibility with complete audit trails. The cloud-native architecture was specifically tailored to regional and international reinsurance nuances, effectively resolving legacy issues.
The platform features structured access portals providing role-based interfaces for insurers, reinsurers, and internal teams, alongside automated bordereaux and reporting capabilities generating real-time premium and claims bordereaux with minimal manual intervention. This comprehensive digital oversight ensures all stakeholders remain informed, capable of acting quickly, and compliant with regulatory requirements.
ReTech’s strategic vision aligns with Saudi Vision 2030, positioning the company as a national enabler toward global expansion. Future roadmap initiatives include expanding presence across MENA regions with localised compliance modules, introducing blockchain-backed smart contracts for automated claims, and continuing enhancement of multilingual and cross-border placement capabilities. Through blending deep local market insight with global reinsurance access, ReTech delivers intelligent solutions built for a digital-first future. M