Placing

• Insurers
• Reinsurers and Brokers

For many regional insurers, the purchase of facultative reinsurance is an irregular process that depends on market conditions and client needs. Adding control and consistency to the process can be an important part of an insurer's management of its business and compliance with regulatory requirements. eReinsure offers Placing for Regional Insurers, an affordable solution for negotiating reinsurance and managing reinsurance market access both directly and via intermediaries.

Insurers

Efficient Market Access

eReinsure Placing provides you with access to reinsurers and brokers in an easy-to-learn and consistent application. Distributing submissions to multiple parties becomes a quick and painless process with a full audit trail, central control over market selection and oversight of the reinsurance purchase process.

• Broadcast a submission to selected reinsurance markets or brokers and then carry out separate and confidential negotiations with each.
• Negotiate with a flexible and familiar workflow.
• Compare offers from multiple reinsurers.
• Bind online with reinsurers when the deal is satisfactory.

Control over Reinsurance

The control framework built in to eReinsure Placing helps you to comply with regulations such as the NAIC reinsurance attestations. It's a means to control access, data, and the security of your reinsurance asset. You also get control over which reinsurance markets are assuming your risks, even when placed through a broker. eReinsure gives you visibility into the markets and their participation for brokered deals. Specifically, you can:

• Control the markets with whom you are placing reinsurance even when your reinsurance purchases are distributed among your underwriters company-wide.
• Conform to NAMIC guidelines with full review of quotes, markets and processes used to place reinsurance using eReinsure Placing.
• Monitor your reinsurance placements with each market and through each broker with up-to-date reports.
• Review each participating market before binding your reinsurance agreement.

Reinsurers and Brokers

Efficient Management of Low-Premium Business

If you are reinsuring regional companies, eReinsure placing provides tools to help you lower the costs of distribution and manage high-volume, low-premium business in a cost-effective way. Consistent data from insurers through standard templates and forms will help you process business more consistently and improve the quality of data that you receive. eReinsure Placing also links in to eReinsure Automatic, for automated validation, and rating of reinsurance submissions for particular reinsurance products.

Channel Reports

eReinsure Placing provides you with opportunities to analyse and manage your distribution channel. eReinsure Placing can provide reports showing which of your channels is most productive and can help you to get the most from your marketing efforts.

Easy Deployment of Automatic Reinsurance Products

As an optional add-on to eReinsure Placing, eReinsure also offers an Automatic module. eReinsure Automatic helps reinsurers deploy standardized reinsurance products that can be rated within the system without "case by case" underwriter intervention. Click here for more information on eReinsure Automatic.