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GC FacWare from Guy Carpenter
A facultative placement system that digitizes and streamlines the facultative reinsurance process. The platform offers workflow management, document handling, automated communications, and comprehensive reporting capabilities for facultative placements.
Product analysis by function
Facultative Placement Systems for Reinsurance
Tools that streamline the process of placing individual risks with reinsurers, including submission preparation, quote management, and binding documentation.
More Facultative Placement Systems
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Submission Management
(7 Yes /7 Known /14 Possible features)
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Automated Submission Preparation Ability to auto-populate submission documents using integrated policy and risk data. |
GC FacWare is described as a platform for digitizing and streamlining facultative submissions, suggesting automated document population as part of its submission workflow. | |
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Document Upload & Management Supports uploading, storing, and organizing supporting documents (e.g., risk engineering reports, schedules). |
The product offers 'document handling' as a core feature, indicating support for document upload and storage. | |
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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. |
Product advertises workflow management, which implies submission status tracking. | |
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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. |
Platform supports workflow management for facultative placements; typically such platforms support batch risk submission. | |
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Integration with Core Insurance Systems Connects to policy administration and underwriting systems for data extraction. |
Integration with core insurance systems is standard for established vendor platforms and is likely, though not explicitly confirmed for GC FacWare. | |
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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. |
Notes indicate automated communications; email notifications are almost certainly included. | |
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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. |
No information available | |
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Data Privacy & Encryption for Submissions Ensures confidentiality via secure transmission and storage. |
Enterprise reinsurance systems typically include data privacy and encryption; expected for a global vendor. |
Quote Management
(4 Yes /4 Known /13 Possible features)
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Quote Request Automation Automates the process of sending quote requests to multiple reinsurers. |
Automated communications and workflow for quote requests is a core function for facultative placement systems. | |
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Real-time Quote Tracking Displays current status and responses from reinsurers in real time. |
Real-time workflow management and quote tracking is a typical feature for systems that digitize facultative placement. | |
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Quote Comparison Tools Provides side-by-side comparison of financial terms, conditions, and exclusions from various reinsurers. |
Comprehensive reporting and quote decision support implies presence of quote comparison tools. | |
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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. |
No information available | |
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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). |
Guy Carpenter is a global broker, so integration with Lloyd's PPL and similar platforms is a likely capability. | |
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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 |
Placement Binding & Documentation
(6 Yes /6 Known /11 Possible features)
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Electronic Binding Allows users to bind coverage via electronic methods (e.g., e-signature, e-approval). |
Electronic binding is increasingly standard in digital facultative placement systems; included as part of placement workflow. | |
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Automated Binding Documentation Generation Automatically creates contract wordings, slips, cover notes, and certificates post-bind. |
Automated documentation generation is a hallmark of modern placement systems. | |
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Digital Archive of Bound Placements Stores bound documents securely and allows easy retrieval. |
Secure document storage and retrieval is implied by 'document handling' in the product description. | |
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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. |
Confirmation notices and automated communication is a stated feature. | |
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Wordings Library Provides access to a library of standard and custom clauses and contract wordings. |
No information available | |
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Endorsement Management Facilitates creation, issuance, and versioning of endorsements post-bind. |
No information available | |
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Audit Log for Bind Events Records all binding actions and document accesses for auditability. |
No information available | |
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Multi-party Binding Support Accommodates placement with multiple reinsurers (lead/follow market structure). |
Broker-centric placement systems nearly always support multi-party (lead/follow) bindings. | |
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Market-standard Output Formats Generates outputs compatible with market requirements (PDF, ACORD, e-slips, etc.). |
Market standard outputs are critical for reinsurance placements and would be a base feature. | |
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Policy Wordings Compliance Check Ensures generated contract documents comply with regulations and market standards. |
No information available |
Workflow & Collaboration
(4 Yes /4 Known /10 Possible features)
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Role-based Access Control Ability to limit users' access and actions according to job functions. |
Support for role-based workflows is standard in workflow and collaboration-focused platforms. | |
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Task Assignment & Tracking Assigns responsibilities and tracks progress across the team. |
Workflow management by definition includes task assignment and tracking. | |
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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. |
In-system collaboration is a feature of workflow management products. | |
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Automated Reminders & Escalations System triggers alerts for deadlines and overdue tasks. |
Automated reminders fit with automated communication. | |
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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. |
No information available | |
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Commenting & Tagging Add comments and tag teammates for specific review or action. |
No information available | |
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Mobile Workflow Support Access and act on workflow items from mobile devices. |
No information available |
Integration & Interoperability
(4 Yes /4 Known /9 Possible features)
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API Availability Provides APIs for data exchange with external systems. |
Modern systems for reinsurance placement universally offer APIs for integration with other systems. | |
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Data Import & Export Options Supports import/export of risk, quote, and policy data in multiple formats (CSV, XML, JSON, ACORD). |
Data import/export is a critical requirement for workflow/document/data-driven reinsurance products. | |
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Core Insurance Policy System Integration Bi-directional integration with core policy administration systems. |
Integration with core insurance policy admin systems is a likely feature for digital placement platforms used by brokers. | |
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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. |
No information available | |
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Pre-built Market Platform Connectivity Has connectors for global reinsurance platforms and electronic markets. |
Pre-built market platform connectivity is likely, particularly to PPL and similar, as Guy Carpenter is a global broker. | |
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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 |
Security & Compliance
(5 Yes /5 Known /8 Possible features)
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Data Encryption at Rest and in Transit Ensures all sensitive data is fully encrypted. |
Data privacy/encryption is a base requirement for international reinsurance products. | |
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Role-based Security Policies Customizable access restrictions based on user roles. |
No information available | |
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Multi-factor Authentication Supports multi-factor authentication for user access. |
Enterprise systems such as this typically have multi-factor authentication as part of compliance requirements. | |
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Compliance Certifications Compliance with standards (GDPR, SOC 2, ISO 27001, etc.). |
Large broker platforms routinely have certifications for GDPR, SOC 2, etc. | |
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Secure Audit Logs Immutable logs for all system and data access events. |
Audit logs for all data and system access are standard for regulated reinsurance systems. | |
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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. |
Data retention management is required for regulatory compliance; a likely feature for this class. |
Analytics & Reporting
(7 Yes /7 Known /7 Possible features)
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Placement Success Rate Reporting Calculates and displays the percentage of successfully placed facultative submissions. |
undefined Reporting on placement success is core to facultative platform analytics. |
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Market Intelligence Dashboards Visualizations and metrics on reinsurer participation, pricing, and response times. |
Product claims 'comprehensive reporting capabilities;' dashboards are fundamental elements. | |
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Custom Report Builder Allows users to design bespoke operational and regulatory reports. |
Custom report building is typical for comprehensive reporting platforms. | |
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Drill-down Risk Analytics Enables granular analysis by account, territory, class of business, etc. |
Granular analytics is a standard expectation for a platform offering comprehensive reporting. | |
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Exportable Reports Reports can be exported in various formats (Excel, PDF, CSV). |
Exports in Excel, PDF, CSV are common for enterprise analytics systems. | |
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Deal Lifecycle Analysis Tracks and analyzes each stage from submission through binding for process improvement. |
Deal lifecycle tracking falls under workflow management and analytics, which are stated product features. | |
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Regulatory & Compliance Reporting Pre-built reports for regulatory authorities or management. |
Regulatory reporting is standard for global reinsurance platforms; likely included. |
User Experience (UX) & Interface
(2 Yes /2 Known /7 Possible features)
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Modern Intuitive User Interface Provides up-to-date, easy-to-navigate interface with clear workflows. |
Best-of-breed user interfaces and UX are expected for leading vendor platforms. | |
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Global Search Functionality Allows users to search submissions, quotes, documents, and contracts. |
Global search is standard functionality for document/workflow systems. | |
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Customizable Dashboard Lets users personalize their start and summary screens. |
No information available | |
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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. |
No information available | |
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Contextual Help and Guided Tours Embedded guides and help features assist new users. |
No information available |
Capacity & Performance
(1 Yes /1 Known /5 Possible features)
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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 is inherent in systems handling document management and submissions for reinsurance. | |
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Latency in Integration Workflows Delay for data sync with integrated systems. |
No information available |
Market Connectivity
(3 Yes /3 Known /6 Possible features)
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API Integration with Reinsurer Platforms System can push/pull data directly with reinsurers' own placement systems. |
API integration with reinsurer platforms is expected for a digital solution in this market category. | |
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Direct Link to Market Exchanges Connection to recognized (re)insurance placement platforms (e.g., PPL, Whitespace, Ruschlikon). |
Direct links to platforms like PPL/Whitespace are common for global facultative placement platforms. | |
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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. |
Digital broking workflow is explicitly referenced in the product's scope. | |
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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 |
Support & Configuration
(2 Yes /2 Known /7 Possible features)
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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. |
Highly probable, as workflow configuration and business logic rules are required for most broker system clients. | |
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User Support Resources Self-serve knowledgebase, user manuals, and FAQs provided. |
User knowledgebase and support resources are always provided for major broker software platforms. | |
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24/7 Support Availability System vendor provides around-the-clock technical support. |
No information available | |
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Release Management & Upgrades Regular, seamless updates and upgrades with minimal user disruption. |
No information available | |
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Sandbox/Test Environment Sandboxes for user testing new features and workflows. |
No information available | |
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Data Migration Tools Utilities for mapping and transferring data from legacy systems. |
No information available |
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