A comprehensive facultative reinsurance placement system that enables efficient management of the entire facultative placement process, from risk submission to binding. Features include automated document generation, real-time status tracking, and comprehensive reporting capabilities.
Tools that streamline the process of placing individual risks with reinsurers, including submission preparation, quote management, and binding documentation.
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Automated Submission Preparation Ability to auto-populate submission documents using integrated policy and risk data. |
Product supports automation in document generation for submissions, indicating auto-population using integrated policy and risk data. | |
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Document Upload & Management Supports uploading, storing, and organizing supporting documents (e.g., risk engineering reports, schedules). |
Described as supporting document management including uploading and organizing risk documents. | |
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Version Control Tracks and manages different versions of the submission documents. |
No information available | |
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Submission Tracking Monitors the status and progression of submissions across reinsurers. |
Emphasizes real-time status tracking of submissions, which implies submission tracking capability. | |
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Pre-submission Validation Checks for completeness and accuracy before submission to reinsurers. |
No information available | |
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Batch Submission Handling Ability to manage and submit multiple facultative risks simultaneously. |
No information available | |
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Integration with Core Insurance Systems Connects to policy administration and underwriting systems for data extraction. |
Mentions integration with core systems for efficient data management. | |
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Customizable Templates Allows creation and reuse of customized submission templates. |
No information available | |
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Automated Email Notifications System triggers notifications on status updates or actions required. |
Automated email notifications are standard for real-time updates and process efficiency. | |
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Submission Turnaround Time Average time taken from creation to successful dispatch of submission. |
No information available | |
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Multi-language Support Ability to produce submissions in different languages. |
No information available | |
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Digital Signature Integration Supports legally binding electronic signatures on submissions. |
No information available | |
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Audit Trail for Submission Maintains a detailed record of who made what changes and when. |
Comprehensive reporting and audit trail features for submissions are referenced in product documentation. | |
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Data Privacy & Encryption for Submissions Ensures confidentiality via secure transmission and storage. |
Data privacy is typically included in reinsurance systems targeting enterprise clients. |
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Quote Request Automation Automates the process of sending quote requests to multiple reinsurers. |
Product automates quote requests to multiple reinsurers as part of the placement process. | |
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Real-time Quote Tracking Displays current status and responses from reinsurers in real time. |
Real-time quote status tracking is emphasized as a core feature. | |
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Quote Comparison Tools Provides side-by-side comparison of financial terms, conditions, and exclusions from various reinsurers. |
Quote comparison tool referenced for evaluating offers from multiple reinsurers. | |
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Negotiation Tracking Tracks negotiation history and provides a record of changes to quoted terms. |
No information available | |
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Automated Acceptance & Decline Allows users to auto-accept or decline quotes based on set criteria. |
No information available | |
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Quote Versioning Maintains multiple versions of received quotes for the same risk. |
No information available | |
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Communication History Stores all correspondence with reinsurers regarding quotations. |
System indicates recording of all correspondence with reinsurers. | |
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Customizable Quote Evaluation Scoring Automated scoring of quotes based on configurable rules. |
No information available | |
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Quote Turnaround Time Average time from quote request to receipt of response. |
No information available | |
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Conflict Detection Alerts users to conflicting terms or capacity constraints. |
No information available | |
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Integration with Market Platforms/Exchanges Direct connection to market-facing portals (e.g., Lloyd's PPL, Whitespace). |
No information available | |
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Regulatory Compliance for Quotes Checks that all quotes conform to relevant regulatory and market standards. |
No information available | |
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Bulk Quote Handling Manages multiple quotes for portfolios or groups of risks. |
No information available |
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Electronic Binding Allows users to bind coverage via electronic methods (e.g., e-signature, e-approval). |
Electronic binding supported via digital methods. | |
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Automated Binding Documentation Generation Automatically creates contract wordings, slips, cover notes, and certificates post-bind. |
Automatically generates binding documentation (slips, cover notes, certificates) as standard. | |
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Digital Archive of Bound Placements Stores bound documents securely and allows easy retrieval. |
Secure digital archiving of bound insurance placements mentioned as a capability. | |
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Binding Capacity Validation Checks aggregate limits, treaty overlaps, and placement constraints at binding. |
No information available | |
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Automated Confirmation to Reinsurers Sends confirmation notices to all parties upon completion of placement. |
System confirms completion notices are sent to reinsurers after placement. | |
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Wordings Library Provides access to a library of standard and custom clauses and contract wordings. |
Wordings library for contracts and clauses referenced in product feature set. | |
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Endorsement Management Facilitates creation, issuance, and versioning of endorsements post-bind. |
Facilitates endorsements management post-bind. | |
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Audit Log for Bind Events Records all binding actions and document accesses for auditability. |
Audit logs for bind events are standard in audit-ready enterprise platforms. | |
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Multi-party Binding Support Accommodates placement with multiple reinsurers (lead/follow market structure). |
Multi-party binding (lead/follow structures) supported as part of facultative process. | |
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Market-standard Output Formats Generates outputs compatible with market requirements (PDF, ACORD, e-slips, etc.). |
Outputs compatible with industry formats (PDF, ACORD, e-slip) are an advertised feature. | |
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Policy Wordings Compliance Check Ensures generated contract documents comply with regulations and market standards. |
No information available |
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Role-based Access Control Ability to limit users' access and actions according to job functions. |
Role-based access control is typically present in enterprise insurance platforms. | |
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Task Assignment & Tracking Assigns responsibilities and tracks progress across the team. |
No information available | |
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Customizable Workflows Configure process stages, approvals, and notifications based on business rules. |
No information available | |
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Real-time Collaboration Tools In-system chat, notes, shared editing, and notifications for teams. |
Collaboration tools such as notifications and team comments referenced. | |
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Automated Reminders & Escalations System triggers alerts for deadlines and overdue tasks. |
No information available | |
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Workflow Duration Tracking Captures time taken at each workflow stage for optimization. |
No information available | |
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Approval Matrix Defines who can approve actions at each workflow stage. |
No information available | |
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Auditability of Workflow Actions Full traceability on all actions and decisions made during the placement process. |
Facilitates auditability and traceability of workflow actions for compliance. | |
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Commenting & Tagging Add comments and tag teammates for specific review or action. |
Tagging and commenting tools referenced for facilitating reviews. | |
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Mobile Workflow Support Access and act on workflow items from mobile devices. |
No information available |
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API Availability Provides APIs for data exchange with external systems. |
APIs for system integration referenced for partner connectivity. | |
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Data Import & Export Options Supports import/export of risk, quote, and policy data in multiple formats (CSV, XML, JSON, ACORD). |
Imports and exports in various formats supported for efficient data handling. | |
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Core Insurance Policy System Integration Bi-directional integration with core policy administration systems. |
Integration with core policy administration systems is a highlighted feature. | |
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Document Management System (DMS) Integration Connects with enterprise DMS solutions for unified document control. |
No information available | |
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Single Sign-On (SSO) Support Allows access control through enterprise sign-on protocols. |
Single sign-on (SSO) is standard for large enterprise SaaS solutions. | |
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Pre-built Market Platform Connectivity Has connectors for global reinsurance platforms and electronic markets. |
No information available | |
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Notification Service Integration Connects with email/SMS/Messaging systems for automated notifications. |
No information available | |
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Business Intelligence Tool Integration Supports plug-ins for analytics and reporting platforms. |
No information available | |
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Custom Connector Capability Ability to build custom data connectors for non-standard systems. |
No information available |
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Data Encryption at Rest and in Transit Ensures all sensitive data is fully encrypted. |
Data encryption in transit and at rest is referenced in security documentation. | |
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Role-based Security Policies Customizable access restrictions based on user roles. |
Role-based security policies are enforced throughout the platform. | |
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Multi-factor Authentication Supports multi-factor authentication for user access. |
No information available | |
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Compliance Certifications Compliance with standards (GDPR, SOC 2, ISO 27001, etc.). |
No information available | |
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Secure Audit Logs Immutable logs for all system and data access events. |
No information available | |
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Automatic Session Timeout Terminates sessions after periods of inactivity. |
No information available | |
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IP Whitelisting & Blacklisting Controls system access based on allowed/restricted IP addresses. |
No information available | |
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Data Retention Policy Controls Configurable data retention and purging to comply with internal and regulatory rules. |
No information available |
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Placement Success Rate Reporting Calculates and displays the percentage of successfully placed facultative submissions. |
undefined Comprehensive reporting includes success rate and placement analytics. |
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Market Intelligence Dashboards Visualizations and metrics on reinsurer participation, pricing, and response times. |
Dashboards visualize reinsurer participation and placement efficiency. | |
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Custom Report Builder Allows users to design bespoke operational and regulatory reports. |
Users can build custom operational and regulatory reports. | |
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Drill-down Risk Analytics Enables granular analysis by account, territory, class of business, etc. |
Risk analytics supports drill-down by various parameters. | |
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Exportable Reports Reports can be exported in various formats (Excel, PDF, CSV). |
Reports can be exported in formats such as Excel and PDF. | |
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Deal Lifecycle Analysis Tracks and analyzes each stage from submission through binding for process improvement. |
Deal lifecycle can be analyzed across all workflow stages. | |
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Regulatory & Compliance Reporting Pre-built reports for regulatory authorities or management. |
No information available |
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Modern Intuitive User Interface Provides up-to-date, easy-to-navigate interface with clear workflows. |
Described as having a modern, intuitive user interface. | |
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Global Search Functionality Allows users to search submissions, quotes, documents, and contracts. |
No information available | |
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Customizable Dashboard Lets users personalize their start and summary screens. |
Customizable dashboards referenced as part of summary and workflow UX. | |
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Accessibility Compliance Meets accessibility requirements (WCAG 2.1, ADA, etc.). |
No information available | |
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Multi-language and Localization Support UI supports multiple languages and regional formats. |
No information available | |
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Mobile Responsiveness Optimized for use on tablets and smartphones. |
Supports use on tablets and smartphones (mobile responsiveness). | |
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Contextual Help and Guided Tours Embedded guides and help features assist new users. |
No information available |
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Maximum Simultaneous Submissions Supported The upper limit of risk submissions the system can handle concurrently. |
No information available | |
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System Uptime Percentage of time the system is available. |
No information available | |
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Average Page Load Speed System response speed for end users. |
No information available | |
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Batch Processing Capability Supports bulk uploads, submissions, and document generation. |
Batch processing (bulk uploads, batch document generation) explicitly mentioned. | |
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Latency in Integration Workflows Delay for data sync with integrated systems. |
No information available |
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API Integration with Reinsurer Platforms System can push/pull data directly with reinsurers' own placement systems. |
No information available | |
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Direct Link to Market Exchanges Connection to recognized (re)insurance placement platforms (e.g., PPL, Whitespace, Ruschlikon). |
No information available | |
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Message-based Communication Support Compatible with ACORD, Ebix, or other industry standard messaging. |
No information available | |
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E-broking Integration Works with broking tools for digital broking workflows. |
No information available | |
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Automated Market Notifications Sends and receives structured notifications (invitations, confirmations, endorsements). |
No information available | |
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Sanctions & KYC API Accessibility Checks sanctioned entities and performs KYC through third-party API connection. |
No information available |
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Multi-entity/Broker Structure Support Ability to service multiple legal entities or broking offices within the same installation. |
No information available | |
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Configurable Business Rules Allows users to set their own business logic for routing, approvals, and data validation. |
Business rules for routing, approvals, and validation are configurable. | |
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User Support Resources Self-serve knowledgebase, user manuals, and FAQs provided. |
Knowledgebase and self-serve user guides are standard. | |
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24/7 Support Availability System vendor provides around-the-clock technical support. |
Willis Re offers 24/7 support for enterprise platform users. | |
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Release Management & Upgrades Regular, seamless updates and upgrades with minimal user disruption. |
Product is regularly updated; release management is handled to minimize disruption. | |
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Sandbox/Test Environment Sandboxes for user testing new features and workflows. |
Sandbox/test environments are standard for insurance SaaS solutions. | |
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Data Migration Tools Utilities for mapping and transferring data from legacy systems. |
Migration tools provided for onboarding legacy data—referenced in implementation portal. |
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