Placing

• Savings
• Revenues
• Costs of Ownership

The eReinsure platform is designed to create a significant return on investment. The following chart summarizes how companies will realize a return on their investment in eReinsure:

Savings

• Process efficiency and time saved with distribution of one submission to multiple markets and creation of electronic "placing files".
• Accuracy through potential elimination of duplicate data entry and rework of incorrect entries.
• Reduced E&O with consistent records of the placement process and information disclosed plus documentation of the placement.
• Reinsurance recoveries will be easier to track and manage.
• Negotiate preferred terms with reinsurers and ensure that these preferred markets receive submissions.
• Improved management of the use of reinsurers capacity and control over reinsurer exposure.
• Expense reduction with reduced travel and communication expenses.
• Analysis of reinsurer competitiveness and responsiveness enabling business to be directed to appropriate markets / underwriters.
• Enhanced control over what reinsurance to buy and when to buy it. Analysis of reinsurance purchased to date and monitoring of facultative purchases to avoid conflicts with treaty protections.

Not all of these savings are easy to quantify and will vary depending on market conditions. For example, the savings available from changing the amount of reinsurance purchased will be increasingly significant in a hard market.

Revenues

• Business production resulting from the ability to focus the time saved by underwriters on generating new accounts.
• Arranging reinsurance more quickly can improve responsiveness to insurance buyers when fac is a prerequisite to quoting.
• Ease of canvassing multiple reinsurance markets can help underwriters to validate rates based upon prevailing market conditions.

Costs of Ownership

• Customized Master License Fees for use of the eReinsure platform are dependent on a number of factors including estimated volumes, number of users, number of offices, training and support level.
• eReinsure's ASP (Application Service Provider) model provides cost savings as the only software needed is a standard internet browser. No additional hardware or software is necessary.