INTX CEO Rob Lewis: Reinsurance Shouldn't Be an Afterthought

Reinsurance is where a lot of insurance technology goes to die. Treaties live in one system, claims in another, finance in a third, and a small army of people with spreadsheets holds it all together. That's expensive, and as Rob Lewis points out below, a lot of the cost is money companies never notice they're losing.

Rob is CEO of INTX Insurance Software, which just made the 2026 InsurTech100 and is expanding in Bermuda through a new partnership with Bermuda-based Bespoke Analytics. INTX is a newer name, but the platform behind it has been running live insurance and reinsurance operations across the UK, Europe, Bermuda, the Caribbean and Africa for more than 20 years.

Full disclosure: I've met Rob and know the INTX team well, so I was glad when he agreed to answer two sets of questions in writing. The first covers the InsurTech100 recognition and the push into North America. The second covers Bermuda. His answers are below, lightly edited.

Part 1: The InsurTech100 and the push into North America

Out of 2,100+ companies considered, INTX made the InsurTech100. What do you think set INTX apart for the judges?

I can't speak for the judges, but I think INTX stands out because we're addressing a problem much bigger than any individual insurance process.

Most technology providers focus on specific functions. We've built a platform that puts reinsurance at the center of the system, connecting core insurance operations with both ceded and assumed reinsurance. Which is something that's traditionally been managed across multiple disconnected systems or separate systems all together.

What also makes us different is the experience behind the technology. We've spent more than 20 years developing and deploying solutions in real insurance environments. We understand the complexity because we've worked through it.

I think the combination of proven experience, modern architecture and a genuinely different approach to insurance operations makes INTX particularly relevant today.

INTX is a newer name, but the team and technology have been deployed across multiple continents for decades. What's the backstory, and why launch under a new brand now?

INTX is a new chapter in a story that started more than 20 years ago.

The technology was originally developed to support the insurance and reinsurance businesses I founded and operated across the UK, Europe, Bermuda, the Caribbean and Africa. As those businesses grew through acquisitions and expansion, so did the complexity of managing multiple entities, jurisdictions and reinsurance structures. The technology evolved to solve those challenges firsthand.

When I sold the business, I made one unusual request: to retain the source code. I understood the value of what had been built and the opportunity to bring that technology to a much wider market.

That source code became the foundation for INTX.

What began as a solution born out of operational necessity has evolved into a platform addressing a much broader market demand.

INTX may be a new name, but the technology isn't an experiment. It's been shaped by decades of real-world insurance and reinsurance operations.

What does North American expansion look like in practice? Who are you going after first: carriers, reinsurers, MGAs, brokers?

Our focus is on specialty P&C carriers, reinsurers, MGAs and program administrators, particularly organizations where operational complexity is limiting growth or creating unnecessary cost.

Reinsurance is a major opportunity for us. It's critical to how insurers manage risk and capital, yet it's often one of the least modernized parts of the business.

Our platform gives customers flexibility. They can modernize ceded reinsurance independently through INTX ReinsureConnect RI, manage assumed business through INTX Re, or address broader insurance operations through INTX Core.

We're focused on organizations where that combination of capabilities delivers a clear business advantage, rather than trying to serve every segment of the market.

What's different about selling into the US and Canadian market versus the markets where the technology was built?

North America isn't short on insurance technology. In many cases, the challenge is that organizations have too much of it, and very little was designed to work together.

The US and Canadian markets operate at enormous scale, with complex regulatory requirements, sophisticated distribution models, specialty programs and intricate reinsurance arrangements. Over decades, many organizations have accumulated layers of technology through acquisitions, expansion and changing business requirements. The result is often a fragmented operating environment that's expensive to maintain and increasingly difficult to modernize.

What's different here is the level of scrutiny around change. These organizations have significant investments in existing technology, and replacing critical systems introduces real operational risk. Buyers want more than functionality. They want confidence that you understand their business, can handle their complexity and have a credible path to implementation.

That's where INTX's history becomes particularly relevant. Our technology wasn't developed in isolation. It was built by people running insurance and reinsurance businesses across multiple jurisdictions, dealing with many of these same operational challenges firsthand.

We're bringing that experience to North America with a different approach. We can modernize specific areas, such as ceded or assumed reinsurance, without forcing organizations to replace their entire technology stack, while also offering a complete (Re)Insurance Operating System for those ready for broader transformation.

North America doesn't need another system added to the stack. It needs technology that can simplify the business, whether that's solving one critical problem or transforming the entire operation.

"Legacy issues in (re)insurance" covers a lot of ground. What's the one legacy problem you see costing companies the most right now?

The disconnect between underwriting, reinsurance and finance.

An insurer writes a policy, manages the exposure, calculates reinsurance and processes claims. But in many organizations, those activities happen across separate systems, with people and spreadsheets holding everything together.

The real cost goes well beyond inefficiency. Reinsurance leakage is a significant example. When contracts, claims and financial data aren't connected, organizations can miss recoverables, miscalculate obligations or leave money uncollected. We've identified opportunities to recover 3–8% of reinsurance value through better visibility and operational controls.

For a business managing hundreds of millions in reinsurance transactions, even a small percentage represents significant financial exposure.

The biggest cost of legacy technology isn't maintaining old systems. It's the money companies don't realize they're losing because those systems don't work together.

Lots of insurtechs have tried to fix core systems and stalled. What has decades of real-world deployment taught your team that a younger startup wouldn't know yet?

That insurance complexity lives in the exceptions.

A straightforward policy or treaty is relatively easy to demonstrate. The challenge comes with historical endorsements, unusual commission structures, complex reinsurance arrangements, multiple currencies and years of accumulated financial transactions.

That's where platforms are really tested.

We've learned that you can't solve every problem through customization. You need flexibility built into the platform, and you need an implementation approach that reflects how insurers actually operate.

We've also learned that modernization doesn't have to happen all at once. Sometimes solving one critical operational problem creates the foundation for much broader transformation.

Experience teaches you where the complexity really lives, and how to design for it before it becomes a problem.

Where does AI actually fit in the INTX platform today, and where do you think the industry is overselling it?

AI has enormous potential in insurance, but the conversation needs to move beyond impressive demonstrations.

The industry is full of complex information buried in treaties, policies, bordereaux and operational documents. Making that information accessible and actionable is a real opportunity.

We've introduced Tenet, our native intelligence layer, to help interpret documents, extract structured information, support underwriting analysis and make operational knowledge easier to access. Its only limitation is the regulation applied by NAIC requirements for human intervention in the insurance lifecycle.

What concerns me is the assumption that AI can somehow fix fragmented underlying systems.

If your data is disconnected or unreliable, AI doesn't automatically solve that.

AI without business context is just another tool. The real value comes when intelligence is embedded in the processes and systems that run the business.

What does winning look like for INTX in North America over the next two to three years?

Success means becoming a trusted name when insurers and reinsurers evaluate how to modernize their (re)insurance operations.

We want INTX to be recognized for bringing something genuinely different to the market, particularly our ability to provide the economic control related to ceded and assumed reinsurance.

Of course, that means growing our customer base, expanding partnerships and building market awareness. But the real measure will be customer outcomes: better operational efficiency, stronger financial visibility and businesses that can scale without continually adding complexity.

We're also looking to change the conversation around reinsurance technology. It shouldn't be an afterthought in the operating model.

If INTX helps make that shift happen, while delivering meaningful results for our customers, that's success.

Part 2: Bermuda

Why Bermuda, and why now? What were INTX clients on the island running into that made on-island implementation support worth a dedicated partnership?

Bermuda is one of the world's most sophisticated reinsurance markets, and one where our technology has a long history.

As we expand, we're equally focused on how we support our customers. Insurance and reinsurance operations are complex, and implementing business-critical technology requires more than a remote relationship. We believe the best results come from working directly alongside our customers, understanding their challenges and helping them make a measurable impact on their business.

That's what drove our partnership with Bespoke Analytics. By combining INTX's technology and reinsurance expertise with Bespoke's on-island presence and local knowledge, we can provide the hands-on implementation, service and ongoing support our customers deserve.

For us, Bermuda isn't simply about expanding our market presence. It's about being closer to our customers, taking greater ownership of their success and delivering the level of support that critical insurance operations demand.

What does Bespoke Analytics bring that INTX couldn't do remotely?

Local knowledge, established relationships and on-the-ground support.

A lot of technology work can be delivered remotely, but insurance modernization isn't just a technical exercise. It involves understanding operating practices, working closely with business teams and managing change.

Bespoke brings a local perspective and implementation support that complements our platform and product expertise.

For customers, that means access to INTX's technology and insurance knowledge, supported by people who understand the Bermuda market.

It's a practical partnership designed to make implementation and ongoing service more accessible, responsive and effective.

ABIR reported a record $197.5B in gross premiums for 2025. As more complex risk and capital structures run through Bermuda, where does legacy infrastructure break first?

It usually breaks where risk and finance need to meet.

Many legacy insurance systems were originally built to handle individual functions, not the complexity of an entire insurance and reinsurance operation. Reinsurance, in particular, was often an afterthought. As business requirements evolved, additional applications, integrations and manual processes were layered on to solve immediate problems rather than support the business as a whole.

Over time, that creates a patchwork of technology that was never designed to operate as one connected system.

In Bermuda, where reinsurers manage complex treaty programs, multiple entities, collateral arrangements and sophisticated capital structures, those limitations become particularly costly. The breakdown happens in the handoffs between contract administration, bordereaux processing, accounting and reporting. Teams are left reconciling information manually, delaying financial closes and working without a complete view of exposures, recoverables and financial obligations.

And as these structures become more complex, the problem compounds. It's not just about processing transactions. It's about understanding their financial and capital implications accurately and in time to act.

Bermuda is home to some of the brightest minds in global reinsurance, managing extraordinary complexity. The expertise to manage that complexity already exists. It's time the technology matched it.

Data migration is where most core system projects go sideways. What's the most common mistake reinsurers make when moving off a legacy platform?

Treating migration as a data transfer rather than a business transformation.

A reinsurer might have decades of treaties, claims, financial adjustments and historical calculations. Moving that information isn't simply a matter of copying records from one database into another.

You need to understand the relationships, underlying business rules and which historical information is necessary to support ongoing operations. The biggest mistake is recreating all the problems of the old system inside the new one.

One of the most immediate and practical impacts AI is delivering in insurance is making that legacy data more accessible and usable. AI can extract information from complex documents, identify inconsistencies, classify records and support data cleansing and transformation. These capabilities can significantly reduce the manual effort involved in preparing legacy information for migration.

But AI doesn't replace the need to understand the operating model, reconcile critical financial data and determine what genuinely needs to move.

A successful migration isn't measured by how much historical data you transfer. It's measured by whether the business can operate accurately and confidently on day one.

What does a "(Re)Insurance Operating System" actually replace in a typical Bermuda carrier's stack? Policy admin, accounting, bordereaux, all of it?

Potentially all of it. That's exactly why we created the (Re)Insurance Operating System.

For decades, insurance technology has been built around individual functions. Policy administration here, reinsurance somewhere else, accounting and reporting in separate systems. The industry has spent years connecting these applications, but connecting fragmented systems isn't the same as having a unified operating platform.

INTX changes that model.

We've brought together core insurance operations, ceded reinsurance and assumed reinsurance within one architecture and a common data model. INTX Core manages the insurance lifecycle, from underwriting and policy administration through billing and financial operations. INTX ReinsureConnect RI manages ceded reinsurance, including treaty administration, cessions, recoverables and settlements. INTX Re manages assumed reinsurance, including treaty and facultative administration, premium and loss processing, accounting and reporting.

What makes this an operating system rather than another collection of insurance applications is how those capabilities work together. Reinsurance is native to the architecture, not an afterthought or a downstream process. Transactions, risk and financial information are connected across the business.

And importantly, organizations don't have to replace everything to benefit. A Bermuda reinsurer can modernize assumed operations with INTX Re, while a carrier can introduce INTX ReinsureConnect alongside its existing core platform.

We believe the next generation of insurance technology won't be defined by how many systems an organization can connect, but by how much of its business can operate as one. That's the category we're building with INTX: the (Re)Insurance Operating System.

Sidecars, ILS, and collateralized reinsurance add a lot of moving parts. How does the technology need to be different for those structures versus traditional treaty business?

The technology needs to understand relationships, not just contracts.

With sidecars, ILS and collateralized structures, you're managing how risk, participation, financial obligations and collateral interact across multiple parties and entities.

Traditional systems often struggle because they weren't designed for that level of flexibility. As structures become more sophisticated, more calculations and reconciliations move outside the platform.

You need technology that can model complex arrangements, track allocations, support multiple entities and currencies, and connect transactions to the resulting financial obligations.

That's actually part of why INTX's technology was created. Our founders were operating complex insurance and reinsurance businesses and couldn't find technology capable of supporting their requirements. They built what they needed, and over two decades, the platform evolved to handle the real-world complexities they encountered. That experience shaped the depth and flexibility of INTX today.

Complex structures shouldn't automatically require complex manual processes. The technology should be built to handle them.

What are you hearing from Bermuda CFOs and COOs about AI? Real use cases, or still mostly talk?

I think the conversation is moving from curiosity to accountability.

CFOs and COOs want to know where AI will reduce costs, strengthen controls or improve access to critical information. They're less interested in AI for its own sake.

In reinsurance, there are some very practical opportunities: interpreting treaties, ingesting bordereaux, identifying data inconsistencies and helping teams find information that would otherwise take hours to locate.

But there's an important distinction between AI that assists people and AI that makes decisions.

When you're dealing with risk, capital and financial reporting, accuracy, traceability and human oversight are essential.

That's how we think about Tenet. The opportunity is to bring intelligence into the operating environment, where it has access to relevant business context and can deliver measurable value.

If a reinsurer is stuck on a legacy system today, what's the first step you'd tell them to take in the next 12 months?

Start with the business problem and processes, not the technology.

Identify where your teams are spending time reconciling information, working around system limitations or waiting for financial and operational reports. Where are spreadsheets filling gaps? Where are critical processes slowing down the business?

Then quantify the impact. What's the cost of those inefficiencies? Where are the financial risks? What opportunities are being missed? That gives you a credible business case and helps prioritize where modernization will deliver the greatest value.

One of the biggest misconceptions is that modernization requires replacing your entire technology stack. It doesn't, and often that approach introduces unnecessary cost, complexity and disruption.

For example, an insurer may have a core policy administration system that works well but struggles with ceded reinsurance. With INTX ReinsureConnect, they can retain their existing core system while modernizing treaty administration, cessions, recoverables, accounting and reporting. Similarly, a reinsurer can address legacy assumed reinsurance operations with INTX Re without overhauling unrelated systems.

That's the flexibility we've built into INTX’s architecture. Organizations can solve their most pressing operational challenges, integrate with their existing environment and expand their modernization efforts as the business requires.

Modernization shouldn't mean disrupting everything that's working. It should mean identifying what's holding the business back, fixing it and building from there.

Learn more about INTX at intx.com.