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RiskConnect from RiskReplacement

RiskConnect offers seamless integration with existing insurance systems, supports real-time data exchange, provides a user-friendly interface, and enhances the overall efficiency of reinsurance transactions.

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Product analysis by function

Broker Connectivity Platforms for Reinsurance

Systems that facilitate electronic data exchange with reinsurance brokers and markets, streamlining placement activities and claims notifications.
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Core Connectivity
(2 Yes /3 Known /10 Possible features)

Placement Workflow Management
(0 Yes /0 Known /10 Possible features)

Claims Notification & Management
(0 Yes /0 Known /10 Possible features)

Security & Compliance
(0 Yes /0 Known /10 Possible features)

Reporting & Analytics
(0 Yes /0 Known /10 Possible features)

User Experience & Interface
(1 Yes /1 Known /10 Possible features)

Integration & Extensibility
(0 Yes /0 Known /10 Possible features)

Performance & Scalability
(0 Yes /0 Known /10 Possible features)

Support & Maintenance
(0 Yes /0 Known /10 Possible features)

Cost & Commercial Model
(0 Yes /0 Known /10 Possible features)

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Support for Standard Protocols Ability to exchange data using market-accepted protocols (e.g., ACORD, Ruschlikon).		Not as far as we are aware.* No explicit evidence of support for industry protocols like ACORD or Ruschlikon. 'Seamless integration' may refer to API/data integration but not necessarily market-standard protocols.
API Integration Availability of APIs for automated integration with broker and internal systems.		Notes and product description reference 'seamless integration with existing insurance systems,' indicating API availability.
Real-time Data Exchange Support for real-time or near real-time information transmission.		'Supports real-time data exchange' is mentioned in the product description.
Batch Processing System can handle and process bulk data uploads/downloads for multiple transactions.		No information available
Multi-Channel Communication Supports email, portal, EDI, and other electronic channels for communication.		No information available
Interoperability Works seamlessly with different broker/reinsurer platforms.		No information available
File Format Flexibility Supports multiple data/file types (XML, JSON, Excel, etc.).		No information available
Connection Speed Average end-to-end message transmission time.		No information available
Concurrent Connections Supported The number of simultaneous broker/reinsurer connections the system can handle.		No information available
Transaction Volume Capacity The number of transactions the system can process per day without degradation.		No information available

Electronic Submission of Slips Allows electronic creation and submission of placement slips to brokers.		No information available
Quotation Management Captures and manages quotations from brokers/reinsurers.		No information available
Firm Order/Bind Workflow Facilitates communication and documentation of firm orders and bindings.		No information available
Negotiation Tracking Tracks negotiation exchanges between parties.		No information available
Approval Workflow Supports internal workflow for reviews and approvals.		No information available
Automated Reminders & Alerts Automated notification of important deadlines and outstanding tasks.		No information available
Audit Trail Captures a complete history of actions taken on each placement.		No information available
Customizable Templates Provides editable templates for different contract types.		No information available
Central Document Repository Single location for all documents related to placements.		No information available
Placement Turnaround Time Average time to complete placement process through the platform.		No information available

Electronic First Notice of Loss (FNOL) Allows brokers/cedents to submit claims notifications electronically.		No information available
Claims Workflow Automation Automates the routing and approval of claims from notification to settlement.		No information available
Document Management for Claims Supports attachment and retrieval of all claim-related documents.		No information available
Broker/Market Communication Portal Provides dedicated channel for claims queries and responses.		No information available
Integration with Internal Claims Systems Enables synchronization of claims data with internal claims management platforms.		No information available
Claims Status Tracking Tracks real-time status and progress of each claim.		No information available
Claims Reporting Tools Offers dashboards and ad-hoc reporting for claims data.		No information available
Automated Acknowledgments System generates auto-confirmations at key claim lifecycle points.		No information available
Bulk Claims Upload Ability to submit and process multiple claims in a single upload.		No information available
Average Claims Notification Processing Time Time from claim submission to notification acknowledgment.		No information available

Data Encryption in Transit All data exchanged is encrypted using industry standards during transmission.		No information available
Data Encryption at Rest Sensitive data is encrypted when stored in the system.		No information available
Role-Based Access Control User permissions are configurable by role and organization.		No information available
Audit Logging All access and system changes are logged and available for audit.		No information available
GDPR & Data Privacy Support Platform helps comply with data privacy regulations like GDPR.		No information available
External Compliance Certifications Holds certifications such as ISO 27001, SOC2, etc.		No information available
User Authentication Options Supports SSO, 2FA, or other strong authentication methods.		No information available
Data Retention Policies Configurable rules for storing and deleting sensitive data.		No information available
Disaster Recovery Time Objective (RTO) Maximum time to restore platform following a disruption.		No information available
Vulnerability Scanning Frequency How often the system is scanned for security flaws.		No information available

Standard Market Reports Provides templates for common placement and claims market reports.		No information available
Customizable Dashboards Users can tailor dashboards to display desired metrics.		No information available
Ad-hoc Report Builder Allows for creation of custom reports on demand.		No information available
Data Export Tools Options to export data to Excel, CSV, PDF, etc.		No information available
Drill-down Analytics Ability to drill from summary to transactional data within reports.		No information available
Scheduled Report Distribution Automated delivery of reports to users on defined schedules.		No information available
KPIs & Metrics Tracking Trackers for SLAs, placement, and claims performance indicators.		No information available
Data Visualization Tools Built-in visualization for charts, graphs, and trends.		No information available
External BI Integration Interfaces with external business intelligence/analytics platforms.		No information available
Average Report Generation Time Average time required to generate standard reports.		No information available

Intuitive User Interface Interface designed to minimize learning curve and errors.		'User-friendly interface' is specifically stated in the product notes and description.
Multi-Language Support System available in multiple major languages.		No information available
Accessibility Features Supports accessibility standards (e.g., WCAG) for users with disabilities.		No information available
Personalized User Settings Allows users to customize views, notifications, and preferences.		No information available
Responsive Design Optimized for desktops, tablets, and smartphones.		No information available
Onboarding and Tutorials Guided learning and self-help resources built into the platform.		No information available
Bulk Actions Enables users to perform actions on multiple items at once.		No information available
Search and Filter Capabilities Advanced search, sorting, and filtering of transactions.		No information available
Session Timeout User session expires automatically after a period of inactivity.		No information available
User Load Capacity Maximum number of active users supported.		No information available

Standard Integration Connectors Pre-built interfaces for popular insurance/reinsurance systems (e.g., policy admin, claims systems).		No information available
Webhooks Support System can communicate via webhooks for real-time updates with third-party platforms.		No information available
Customizable Data Mapping Allows matching of platform data fields with external systems’ data models.		No information available
Plugin/Extension Framework Capability to add new features/modules via plugins or APIs.		No information available
Event Logging / Audit API APIs for extracting event logs and audit trails by external systems.		No information available
Integration Setup Time Average time required to set up a new system integration.		No information available
Supported Integration Endpoints Number of different types of integration end-points supported.		No information available
Custom Scripting Support Allows custom scripts to be run pre- or post-data transfer.		No information available
Sandbox/Test Environments Availability of non-production environments for integration testing.		No information available
Integration Error Handling Advanced tooling for error notification and remediation in integrations.		No information available

High Availability System is designed for >99.9% uptime.		No information available
Load Balancing System uses load balancing to ensure stable performance under variable loads.		No information available
Auto-scaling Automatic scaling of compute resources for high load events.		No information available
System Throughput Maximum number of transactions processed per minute under peak load.		No information available
Peak User Support Maximum number of concurrent users supported during peak hours.		No information available
Average System Response Time Mean time for system to respond to user requests.		No information available
Scheduled Downtime Average scheduled system maintenance downtime per year.		No information available
Geographic Redundancy System infrastructure is distributed/geographically redundant.		No information available
Performance Monitoring Tools Includes dashboard for tracking key performance and resource metrics.		No information available
Automated Failover System automatically switches to backup if main component fails.		No information available

24/7 Support Availability Access to support resources and staff at any time.		No information available
Dedicated Account Manager Assigned single point of contact for major clients.		No information available
Online Ticketing System Allows users to submit and track support requests.		No information available
Response Time SLA Average first response time for critical issues.		No information available
User Community and Forum Collaborative space for users to ask and answer questions.		No information available
Regular System Updates Platform is updated with new features/security patches on a defined schedule.		No information available
Training Resources Comprehensive documentation, videos, and live training sessions provided.		No information available
Change Management Process Structured process for rolling out platform changes.		No information available
Status Dashboard Live status dashboard for incidents and maintenance events.		No information available
Incident Reporting & RCA Formal reporting of incidents with root cause analysis.		No information available

Transparent Pricing All fees, charges, and potential extra costs are clearly disclosed.		No information available
Flexible Licensing Choice between usage-based, seat-based, or enterprise licensing.		No information available
Free Trial/POC Availability Option to access a free trial or proof of concept deployment.		No information available
Volume Discounts Discounting for high transaction/user volumes.		No information available
Support & Maintenance Fees Clearly defined and fair fees for support and upgrades.		No information available
Implementation/Setup Fees Fees for initial configuration and onboarding are disclosed.		No information available
Contract Flexibility Ability to adapt contract terms to suit different client needs.		No information available
Exit Cost Clarity Transparent process and costs for exit or migration to another system.		No information available
Billing Frequency Options Clients can select monthly, quarterly, or annual billing.		No information available
Average Time to ROI Anticipated time to achieve positive return on investment post-implementation.		No information available

RiskConnect from RiskReplacement

Product analysis by function

Broker Connectivity Platforms for Reinsurance

Core Connectivity (2 Yes /3 Known /10 Possible features)

Placement Workflow Management (0 Yes /0 Known /10 Possible features)

Claims Notification & Management (0 Yes /0 Known /10 Possible features)

Security & Compliance (0 Yes /0 Known /10 Possible features)

Reporting & Analytics (0 Yes /0 Known /10 Possible features)

User Experience & Interface (1 Yes /1 Known /10 Possible features)

Integration & Extensibility (0 Yes /0 Known /10 Possible features)

Performance & Scalability (0 Yes /0 Known /10 Possible features)

Support & Maintenance (0 Yes /0 Known /10 Possible features)

Cost & Commercial Model (0 Yes /0 Known /10 Possible features)