Reinsurance intermediary and capital advisor Aon
Benfield is set to launch its new global reinsurer trading platform that aims to enhance placements with real-time data.
The international brokerage firm will unveil on April 11 the platform AB Connect Placements, which will be up and running for the July 1 treaty renewals.
The company said the new platform will provide “a more integrated, streamlined and documented process” for global treaty reinsurance transactions.
The platform also seeks to enhance client service with real-time data and metrics through improved collaboration between Aon
Benfield’s reinsurers and brokers.
“Collaborating with our reinsurer partners through this next generation platform will result in more real-time information to share with clients and enable them to make more informed placement decisions,” said Aon
Benfield COO Michael Moran.
“We conducted a global pilot with reinsurers during the 1 January renewal that has helped to shape the process and create a streamlined and efficient trading platform.”
Reinsurance underwriters can benefit from one portal to access placements, track progress and manage opportunities across Aon
This means underwriters can manage key milestones in the placement, including:
- Securely downloading underwriting submission packages, other key documents and data files
- Entering quotes with terms and conditions updated in real time
- Viewing firm order terms and entering authorised lines
Reinsurers joining the renewals in July 1will receive initial registration credentials when the first Aon
Benfield broker submits a programme through ABConnect Placements.
Once registered, the portal will populate with the underwriter’s Aon
Benfield placements as brokers start publishing additional business on the platform.