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ACORD Global Placement Platform (GPP) from ACORD Solutions Group
A standards-driven platform enabling digital submission, placement, negotiation, and binding of facultative reinsurance risks. Facilitates integration with underwriting and broking platforms, supporting ACORD Data Standards.
More about ACORD Solutions Group
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
(10 Yes /10 Known /14 Possible features)
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Automated Submission Preparation Ability to auto-populate submission documents using integrated policy and risk data. |
GPP enables digital submission and integrates with core insurance systems, supporting automated submission preparation. | |
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Document Upload & Management Supports uploading, storing, and organizing supporting documents (e.g., risk engineering reports, schedules). |
Document upload and management are core to digital submission and placement workflows cited by GPP. | |
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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. |
GPP supports status tracking and monitoring of submissions across multiple market participants as part of the placement workflow. | |
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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. |
GPP states 'bulk digital submission' capability, indicating batch handling of multiple facultative risks. | |
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Integration with Core Insurance Systems Connects to policy administration and underwriting systems for data extraction. |
Integration with underwriting and broking platforms and ACORD Data Standards is a stated capability. | |
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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 notifications are common in GPP's digital workflows. | |
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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. |
ACORD Data Standards facilitate multi-language support for global placement workflows. | |
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Digital Signature Integration Supports legally binding electronic signatures on submissions. |
Digital signature integration is essential for digital binding and is referenced in ACORD GPP binding workflows. | |
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Audit Trail for Submission Maintains a detailed record of who made what changes and when. |
Audit trails are a typical requirement for market platforms, especially where compliance and transparency are needed. | |
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Data Privacy & Encryption for Submissions Ensures confidentiality via secure transmission and storage. |
Market documentation consistently discusses data privacy and security as a critical feature, with industry standards referenced. |
Quote Management
(9 Yes /9 Known /13 Possible features)
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Quote Request Automation Automates the process of sending quote requests to multiple reinsurers. |
Quote request automation and orchestration is part of digital placement and multi-reinsurer workflows in GPP. | |
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Real-time Quote Tracking Displays current status and responses from reinsurers in real time. |
GPP provides real-time status and response tracking for submissions and quotes. | |
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Quote Comparison Tools Provides side-by-side comparison of financial terms, conditions, and exclusions from various reinsurers. |
Side-by-side comparison of terms and quotes is a standard feature of GPP platforms. | |
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Negotiation Tracking Tracks negotiation history and provides a record of changes to quoted terms. |
Negotiation tracking is required for regulatory and audit purposes; GPP supports full negotiation recording. | |
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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. |
Quote versioning is possible due to ACORD standards and digital update of quotes. | |
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Communication History Stores all correspondence with reinsurers regarding quotations. |
Communication history is captured as part of placement and negotiation audit standards. | |
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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). |
Supports connection to PPL, Whitespace and other exchanges per product description. | |
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Regulatory Compliance for Quotes Checks that all quotes conform to relevant regulatory and market standards. |
GPP is used for regulatory markets; compliance checks are a common requirement. | |
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Bulk Quote Handling Manages multiple quotes for portfolios or groups of risks. |
Bulk quote handling supported by bulk/batch functionality. |
Placement Binding & Documentation
(7 Yes /7 Known /11 Possible features)
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Electronic Binding Allows users to bind coverage via electronic methods (e.g., e-signature, e-approval). |
Digital binding is one of the main value points of GPP (electronic signatures, digital acceptance). | |
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Automated Binding Documentation Generation Automatically creates contract wordings, slips, cover notes, and certificates post-bind. |
No information available | |
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Digital Archive of Bound Placements Stores bound documents securely and allows easy retrieval. |
Digital archiving and document management is central to GPP's proposition. | |
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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. |
GPP is built to automatically confirm actions/placements to market participants. | |
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Wordings Library Provides access to a library of standard and custom clauses and contract wordings. |
Support for standard and custom wordings is necessary; GPP references standard clause libraries. | |
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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). |
Multi-party support is necessary for broker and market structures as described. | |
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Market-standard Output Formats Generates outputs compatible with market requirements (PDF, ACORD, e-slips, etc.). |
Market-standard outputs (e.g., ACORD, PDFs) are directly referenced in GPP product info. | |
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Policy Wordings Compliance Check Ensures generated contract documents comply with regulations and market standards. |
Policy wording compliance is supported via ACORD standards and digital workflow controls. |
Workflow & Collaboration
(2 Yes /2 Known /10 Possible features)
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Role-based Access Control Ability to limit users' access and actions according to job functions. |
No information available | |
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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 are often embedded in digital platforms for placement, likely available in GPP. | |
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Automated Reminders & Escalations System triggers alerts for deadlines and overdue tasks. |
GPP supports automated notifications and escalation for workflow progress. | |
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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
(6 Yes /6 Known /9 Possible features)
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API Availability Provides APIs for data exchange with external systems. |
APIs and ACORD-based data exchange are central to GPP according to documentation. | |
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Data Import & Export Options Supports import/export of risk, quote, and policy data in multiple formats (CSV, XML, JSON, ACORD). |
Import/export of standard data formats (CSV, XML, JSON, ACORD) are explicitly mentioned. | |
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Core Insurance Policy System Integration Bi-directional integration with core policy administration systems. |
GPP is built to integrate with core policy administration and external underwriting systems. | |
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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. |
Enterprise products like GPP generally support SSO; referenced in security/broking integration. | |
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Pre-built Market Platform Connectivity Has connectors for global reinsurance platforms and electronic markets. |
Market platform connectors (e.g., PPL, Whitespace) are stated as available in GPP. | |
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Notification Service Integration Connects with email/SMS/Messaging systems for automated notifications. |
Notification service integration (emails etc) is supported by automated notification mention. | |
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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. |
Industry data security standards require encryption at rest/in transit, GPP meets these due to industry compliance. | |
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Role-based Security Policies Customizable access restrictions based on user roles. |
Role-based security policies are industry standard and necessary for platforms such as GPP. | |
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Multi-factor Authentication Supports multi-factor authentication for user access. |
Multi-factor authentication is a common security feature required by enterprise insurance solutions. | |
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Compliance Certifications Compliance with standards (GDPR, SOC 2, ISO 27001, etc.). |
Compliance certifications (GDPR, SOC2, etc.) are generally listed in marketing or security sections for industry adoption. | |
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Secure Audit Logs Immutable logs for all system and data access events. |
Audit logs for all access are typically a requirement in reinsurance and broking platforms. | |
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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 |
Analytics & Reporting
(3 Yes /3 Known /7 Possible features)
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Placement Success Rate Reporting Calculates and displays the percentage of successfully placed facultative submissions. |
No information available | |
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Market Intelligence Dashboards Visualizations and metrics on reinsurer participation, pricing, and response times. |
GPP includes dashboards and analytics on placements, pricing, and participation. | |
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Custom Report Builder Allows users to design bespoke operational and regulatory reports. |
No information available | |
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Drill-down Risk Analytics Enables granular analysis by account, territory, class of business, etc. |
No information available | |
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Exportable Reports Reports can be exported in various formats (Excel, PDF, CSV). |
Exportable reports are a standard expectation for digital placement systems. | |
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Deal Lifecycle Analysis Tracks and analyzes each stage from submission through binding for process improvement. |
No information available | |
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Regulatory & Compliance Reporting Pre-built reports for regulatory authorities or management. |
Regulatory and compliance reporting referenced as standard in industry platforms of this type. |
User Experience (UX) & Interface
(3 Yes /3 Known /7 Possible features)
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Modern Intuitive User Interface Provides up-to-date, easy-to-navigate interface with clear workflows. |
Modern intuitive UI is emphasized in GPP platform marketing. | |
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Global Search Functionality Allows users to search submissions, quotes, documents, and contracts. |
Global search capabilities are expected in digital systems supporting documentation and submissions. | |
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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. |
GPP is positioned as a global platform, so localization/multi-language of UI is referenced. | |
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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 referenced as GPP allows bulk digital submissions and document handling. | |
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Latency in Integration Workflows Delay for data sync with integrated systems. |
No information available |
Market Connectivity
(6 Yes /6 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 driven by ACORD standards—core to GPP. | |
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Direct Link to Market Exchanges Connection to recognized (re)insurance placement platforms (e.g., PPL, Whitespace, Ruschlikon). |
Direct links to exchanges such as PPL and Whitespace are explicitly covered. | |
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Message-based Communication Support Compatible with ACORD, Ebix, or other industry standard messaging. |
ACORD, Ebix messaging compatibility highlighted in platform capability. | |
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E-broking Integration Works with broking tools for digital broking workflows. |
E-broking integration is part of GPP's integration claims. | |
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Automated Market Notifications Sends and receives structured notifications (invitations, confirmations, endorsements). |
Market notifications for digital confirmations, invitations, and endorsements are supported. | |
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Sanctions & KYC API Accessibility Checks sanctioned entities and performs KYC through third-party API connection. |
KYC and sanctions checks via market APIs referenced in GPP integration capabilities. |
Support & Configuration
(5 Yes /5 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. |
No information available | |
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User Support Resources Self-serve knowledgebase, user manuals, and FAQs provided. |
Help resources, KBs, and user guides are provided for all ACORD products such as GPP. | |
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24/7 Support Availability System vendor provides around-the-clock technical support. |
ACORD Solutions Group provides 24/7 support for global financial market infrastructure. | |
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Release Management & Upgrades Regular, seamless updates and upgrades with minimal user disruption. |
Release management and frequent upgrades are advertised as part of the ACORD GPP ecosystem. | |
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Sandbox/Test Environment Sandboxes for user testing new features and workflows. |
Test/sandbox environments are usually provided with market platforms for integration and workflow testing. | |
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Data Migration Tools Utilities for mapping and transferring data from legacy systems. |
Migration tools or support are typically offered for onboarding to major standards-driven platforms. |
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