Risk transference – Our Risk Transference Platform is targeted at the contract placement of outwards facultative reinsurance contracts which will improve efficiency, decrease cost and reduce the time of processing for an insurer by reducing the number of handshakes involved in the overall process. Integrated with our Portfolio Management toolkit the platform can help an insurer save percentages on ceded positions and intelligently transfer risk more efficiently.
The platform supports the placement of reinsurance contracts via traditional re-insurance methods as well as the option to transfer risk to Insurance Linked Securities or by way of a Facultative Swap. The platform provides full quote and bind functionality, claims, endorsement, reporting and accounting.
· Innovative Cloud based software.
· Reduced implementation time and cost.
· Ability to distribute products across various business lines, countries and supports multi-currency.
· Supports E-commerce and broker business channels.
· Flexible and easy to integrate with existing systems.
· Resilient and scalable.
· Ability to apply different pricing models.
· Intelligent workflow aimed at getting an insured or broker to a place a contract quicker.
· Provision of self service and MI portal allowing insurer to make product and rating changes immediately.
· Potential to place contracts via the traditional methods or to ILS or by Facultative Swap