A broker connectivity platform that enables real-time data exchange between reinsurers and brokers. Features include automated data processing, document management, standardized messaging, risk placement workflows, and comprehensive audit trails. It streamlines reinsurance transactions and improves operational efficiency.
Systems that facilitate electronic data exchange with reinsurance brokers and markets, streamlining placement activities and claims notifications.
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Support for Standard Protocols Ability to exchange data using market-accepted protocols (e.g., ACORD, Ruschlikon). |
Described as enabling standardized messaging and broker connectivity, suggesting support for standard protocols. | |
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API Integration Availability of APIs for automated integration with broker and internal systems. |
Called a connectivity platform with automated data processing and real-time data exchange. API integration inferred as a core offering. | |
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Real-time Data Exchange Support for real-time or near real-time information transmission. |
Explicit mention of real-time data exchange between parties. | |
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Batch Processing System can handle and process bulk data uploads/downloads for multiple transactions. |
Described as supporting automated data processing and multiple workflows, implying batch processing support. | |
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Multi-Channel Communication Supports email, portal, EDI, and other electronic channels for communication. |
Supports standardized messaging, portals, and electronic document management, consistent with multi-channel communication. | |
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Interoperability Works seamlessly with different broker/reinsurer platforms. |
Works as a connectivity layer between broker and reinsurer platforms, supporting interoperability. | |
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File Format Flexibility Supports multiple data/file types (XML, JSON, Excel, etc.). |
Standardized messaging and document management indicate support for file format flexibility. | |
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Connection Speed Average end-to-end message transmission time. |
No information available | |
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Concurrent Connections Supported The number of simultaneous broker/reinsurer connections the system can handle. |
No information available | |
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Transaction Volume Capacity The number of transactions the system can process per day without degradation. |
No information available |
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Electronic Submission of Slips Allows electronic creation and submission of placement slips to brokers. |
Placement workflow (risk placement workflows) is listed as a feature, implying electronic submission of slips. | |
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Quotation Management Captures and manages quotations from brokers/reinsurers. |
Quotation management implied due to support for full placement and risk placement workflows. | |
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Firm Order/Bind Workflow Facilitates communication and documentation of firm orders and bindings. |
Firm order/bind workflow is a standard element of risk placement workflows. | |
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Negotiation Tracking Tracks negotiation exchanges between parties. |
Placement and negotiation typically tracked in platforms that focus on audit trail and workflow. | |
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Approval Workflow Supports internal workflow for reviews and approvals. |
Comprehensive audit trail support suggests presence of approval workflows. | |
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Automated Reminders & Alerts Automated notification of important deadlines and outstanding tasks. |
No information available | |
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Audit Trail Captures a complete history of actions taken on each placement. |
Comprehensive audit trails explicitly mentioned. | |
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Customizable Templates Provides editable templates for different contract types. |
No information available | |
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Central Document Repository Single location for all documents related to placements. |
Described as supporting document management, which requires central storage. | |
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Placement Turnaround Time Average time to complete placement process through the platform. |
No information available |
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Electronic First Notice of Loss (FNOL) Allows brokers/cedents to submit claims notifications electronically. |
No information available | |
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Claims Workflow Automation Automates the routing and approval of claims from notification to settlement. |
No information available | |
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Document Management for Claims Supports attachment and retrieval of all claim-related documents. |
No information available | |
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Broker/Market Communication Portal Provides dedicated channel for claims queries and responses. |
No information available | |
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Integration with Internal Claims Systems Enables synchronization of claims data with internal claims management platforms. |
No information available | |
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Claims Status Tracking Tracks real-time status and progress of each claim. |
No information available | |
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Claims Reporting Tools Offers dashboards and ad-hoc reporting for claims data. |
No information available | |
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Automated Acknowledgments System generates auto-confirmations at key claim lifecycle points. |
No information available | |
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Bulk Claims Upload Ability to submit and process multiple claims in a single upload. |
No information available | |
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Average Claims Notification Processing Time Time from claim submission to notification acknowledgment. |
No information available |
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Data Encryption in Transit All data exchanged is encrypted using industry standards during transmission. |
Data exchanged in reinsurance connectivity platforms is generally encrypted in transit as a baseline requirement. | |
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Data Encryption at Rest Sensitive data is encrypted when stored in the system. |
Data at rest encryption is considered best practice and is almost certainly present in a product in this segment. | |
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Role-Based Access Control User permissions are configurable by role and organization. |
Broker platforms with workflows and document management require role-based access control for compliance. | |
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Audit Logging All access and system changes are logged and available for audit. |
Comprehensive audit trails require audit logging of changes and user actions. | |
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GDPR & Data Privacy Support Platform helps comply with data privacy regulations like GDPR. |
Positioned for global (re)insurance markets, these platforms must support GDPR and privacy compliance. | |
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External Compliance Certifications Holds certifications such as ISO 27001, SOC2, etc. |
No information available | |
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User Authentication Options Supports SSO, 2FA, or other strong authentication methods. |
No information available | |
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Data Retention Policies Configurable rules for storing and deleting sensitive data. |
No information available | |
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Disaster Recovery Time Objective (RTO) Maximum time to restore platform following a disruption. |
No information available | |
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Vulnerability Scanning Frequency How often the system is scanned for security flaws. |
No information available |
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Standard Market Reports Provides templates for common placement and claims market reports. |
Standardized messaging and workflow-related reports are essential for reinsurance connectivity platforms. | |
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Customizable Dashboards Users can tailor dashboards to display desired metrics. |
No information available | |
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Ad-hoc Report Builder Allows for creation of custom reports on demand. |
No information available | |
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Data Export Tools Options to export data to Excel, CSV, PDF, etc. |
Data export tools are industry standard for interoperability in these platforms. | |
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Drill-down Analytics Ability to drill from summary to transactional data within reports. |
No information available | |
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Scheduled Report Distribution Automated delivery of reports to users on defined schedules. |
No information available | |
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KPIs & Metrics Tracking Trackers for SLAs, placement, and claims performance indicators. |
No information available | |
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Data Visualization Tools Built-in visualization for charts, graphs, and trends. |
No information available | |
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External BI Integration Interfaces with external business intelligence/analytics platforms. |
No information available | |
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Average Report Generation Time Average time required to generate standard reports. |
No information available |
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Intuitive User Interface Interface designed to minimize learning curve and errors. |
No information available | |
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Multi-Language Support System available in multiple major languages. |
No information available | |
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Accessibility Features Supports accessibility standards (e.g., WCAG) for users with disabilities. |
No information available | |
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Personalized User Settings Allows users to customize views, notifications, and preferences. |
No information available | |
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Responsive Design Optimized for desktops, tablets, and smartphones. |
Modern connectivity platforms are expected to be responsive for access by distributed users. | |
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Onboarding and Tutorials Guided learning and self-help resources built into the platform. |
No information available | |
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Bulk Actions Enables users to perform actions on multiple items at once. |
No information available | |
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Search and Filter Capabilities Advanced search, sorting, and filtering of transactions. |
No information available | |
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Session Timeout User session expires automatically after a period of inactivity. |
No information available | |
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User Load Capacity Maximum number of active users supported. |
No information available |
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Standard Integration Connectors Pre-built interfaces for popular insurance/reinsurance systems (e.g., policy admin, claims systems). |
Described as integrating with broker and insurer/reinsurer systems, so standard connectors are almost certain. | |
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Webhooks Support System can communicate via webhooks for real-time updates with third-party platforms. |
No information available | |
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Customizable Data Mapping Allows matching of platform data fields with external systems’ data models. |
No information available | |
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Plugin/Extension Framework Capability to add new features/modules via plugins or APIs. |
No information available | |
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Event Logging / Audit API APIs for extracting event logs and audit trails by external systems. |
No information available | |
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Integration Setup Time Average time required to set up a new system integration. |
No information available | |
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Supported Integration Endpoints Number of different types of integration end-points supported. |
No information available | |
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Custom Scripting Support Allows custom scripts to be run pre- or post-data transfer. |
No information available | |
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Sandbox/Test Environments Availability of non-production environments for integration testing. |
No information available | |
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Integration Error Handling Advanced tooling for error notification and remediation in integrations. |
No information available |
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High Availability System is designed for >99.9% uptime. |
Critical broker-reinsurer platforms are always designed for high availability (>99.9% uptime). | |
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Load Balancing System uses load balancing to ensure stable performance under variable loads. |
No information available | |
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Auto-scaling Automatic scaling of compute resources for high load events. |
No information available | |
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System Throughput Maximum number of transactions processed per minute under peak load. |
No information available | |
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Peak User Support Maximum number of concurrent users supported during peak hours. |
No information available | |
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Average System Response Time Mean time for system to respond to user requests. |
No information available | |
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Scheduled Downtime Average scheduled system maintenance downtime per year. |
No information available | |
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Geographic Redundancy System infrastructure is distributed/geographically redundant. |
No information available | |
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Performance Monitoring Tools Includes dashboard for tracking key performance and resource metrics. |
No information available | |
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Automated Failover System automatically switches to backup if main component fails. |
No information available |
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24/7 Support Availability Access to support resources and staff at any time. |
No information available | |
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Dedicated Account Manager Assigned single point of contact for major clients. |
No information available | |
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Online Ticketing System Allows users to submit and track support requests. |
No information available | |
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Response Time SLA Average first response time for critical issues. |
No information available | |
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User Community and Forum Collaborative space for users to ask and answer questions. |
No information available | |
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Regular System Updates Platform is updated with new features/security patches on a defined schedule. |
No information available | |
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Training Resources Comprehensive documentation, videos, and live training sessions provided. |
No information available | |
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Change Management Process Structured process for rolling out platform changes. |
No information available | |
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Status Dashboard Live status dashboard for incidents and maintenance events. |
No information available | |
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Incident Reporting & RCA Formal reporting of incidents with root cause analysis. |
No information available |
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Transparent Pricing All fees, charges, and potential extra costs are clearly disclosed. |
No information available | |
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Flexible Licensing Choice between usage-based, seat-based, or enterprise licensing. |
No information available | |
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Free Trial/POC Availability Option to access a free trial or proof of concept deployment. |
No information available | |
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Volume Discounts Discounting for high transaction/user volumes. |
No information available | |
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Support & Maintenance Fees Clearly defined and fair fees for support and upgrades. |
No information available | |
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Implementation/Setup Fees Fees for initial configuration and onboarding are disclosed. |
No information available | |
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Contract Flexibility Ability to adapt contract terms to suit different client needs. |
No information available | |
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Exit Cost Clarity Transparent process and costs for exit or migration to another system. |
No information available | |
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Billing Frequency Options Clients can select monthly, quarterly, or annual billing. |
No information available | |
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Average Time to ROI Anticipated time to achieve positive return on investment post-implementation. |
No information available |
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