Benefits
Broker Benefits
By submitting, marketing and binding reinsurance on the eReinsure platform, brokers can realize important benefits. eReinsure provides a state of the art technology platform designed to create a consistent process for negotiating reinsurance, provide consolidated information and establish straight through processing.
Consistent Process for Negotiating Reinsurance
The eReinsure platform provides a familiar workflow which eliminates inaccuracy and uncertainty by providing a
complete audit trail of the placing transaction. It also allows for unique and competitive solutions to
demonstrate "value add" rather than simply responding with standardized terms and conditions. eReinsure's
streamlined process leads directly to cost savings and represents an opportunity for top line growth and
improved client satisfaction. The eReinsure platform allows users to:
- Negotiate solutions with reinsurance companies and Lloyd’s underwriters.
- Assist clients in improving processes for facultative business. Sponsoring an insurer's use of the eReinsure platform can be a quick and effective way to offer a client the benefits of e-commerce.
- Receive and market submissions quickly and efficiently.
Consolidated Information
Access to essential information permits a broker to actively manage relationships with clients. Not only is the
information available at any time, but it is strongly protected with secure, authorized access and strict separation
between different accounts. The eReinsure platform allows clients to:
- Obtain real-time information on all transactions whether they are in process or completed.
- Review all submission and negotiation information from a central database.
- Track all activity in a simplified, traceable negotiation process from first submission through negotiation to issuance of a certificate - every stage of the transaction is stored and available for future review.
Straight Through Processing
Reliable data is essential to managing accounts and claims. Integrating existing systems with the eReinsure platform provides the means to maintain accurate data and reduce costs. Integration also reduces duplicate data entry and any associated inaccuracy. eReinsure allows clients to:
- Integrate existing policy and back office processing systems with eReinsure. eReinsure is designed to establish XML connections with existing systems.
- Create a seamless process between current systems and eReinsure for all facultative placements.