3 Sep 2020
SwiftRe® Automated Rating Available Via the eReinsure Platform
September 3rd, 2020 – eReinsure.com, Inc. (“eReinsure”) a leading e-placing platform, today announced that it has integrated submit, quote and bind workflow for eReinsure clients that use SwiftRe®, Swiss Re's online placement channel, for automatically rated reinsurance capacity. This provides another automatic reinsurance option for carriers that use the eReinsure platform to manage facultative reinsurance placing.
Making the announcement, eReinsure emphasized that e-placing and automation is at the heart of cost saving for the reinsurance market. For the past 20 years, eReinsure has been a leader and innovator in the field of e-placing of risk. With the reinsurance market intent on reducing the total cost of distribution, the technology link between the two platforms is another step in developing a globally connected reinsurance market.
“eReinsure is uniquely positioned to partner with reinsurers to offer access to automatically rated reinsurance products,” said Igor Best-Devereux, CEO of eReinsure. “Our technology platform enables carriers to manage transactions with multiple reinsurers and brokers efficiently and accurately. Reinsurance management can oversee fac buying, whether this process is decentralized or centralized and the audit trail and financial system interfaces provide additional benefits to premium processing and claims. Providing an integrated path to access automatically rated products offers another improvement in overall cost effectiveness.”
Chung-Shik Mangold, Head of SwiftRe®, P&C Solutions, Swiss Re, stated “Swiss Re has participated in this integration project to respond to clients who use eReinsure as their outwards control for reinsurance. Many of these carriers are also interested in the automation of underwriting and certificate delivery available from SwiftRe®. For many years, Swiss Re has worked to reduce the frictional cost of reinsurance and this is a great example of joining capacity and technology to improve cost effectiveness and service for our clients.”
Best-Devereux went on to point out that the collaboration is one of several automation projects with markets participating on eReinsure. He added that he sees great value in bringing reinsurance partners and platforms together as Carriers, Reinsurers and Brokers increasingly use technology to reduce cost.
eReinsure is a neutral platform supporting distribution between hundreds of companies across the reinsurance market. Founded in 1999, the company is located in Salt Lake City, Utah and has additional offices in London, New York City and Hyderabad. eReinsure was acquired by AmWINS Group, Inc. in 2014.
For more information, please visit www.ereinsure.com.
AmWINS Group, Inc.
AmWINS Group, Inc. is the largest independent wholesale distributor of specialty insurance products in the United States, dedicated to serving retail insurance agents by providing property and casualty products, specialty group benefit products and administrative services. Based in Charlotte, N.C., the company operates through more than 115 offices globally and handles premium placements in excess of $20 billion annually. To learn more, visit www.amwins.com.
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