Aon Benfield Launches Global Reinsurer Trading Platform with Real-Time Data

April 5, 2016

Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, will launch on April 11 a global reinsurer trading platform called ABConnect Placements.

Available for use with the July 1 renewals, ABConnect Placements will provide a more integrated, streamlined and documented process for global treaty reinsurance transactions, Aon Benfield said.

The goal is to better serve clients with real-time data and metrics through enhanced collaboration between Aon Benfield’s reinsurers and brokers, the company added.

Reinsurance underwriters can benefit from one portal to access placements, track progress and manage opportunities across Aon Benfield. In practice, 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 authorized lines

“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,” commented Michael Moran, chief operating officer of Aon Benfield.

“We conducted a global pilot with reinsurers during the Jan. 1 renewal that has helped to shape the process and create a streamlined and efficient trading platform,” he added.

Reinsurers participating on July 1 renewals will receive initial registration credentials when the first Aon Benfield broker submits a program via ABConnect Placements.

Once registered, the portal will populate with the underwriter’s Aon Benfield placements as brokers begin publishing additional business on the platform.

A user guide and video demonstration will be available within the site.

Aon Benfield has provided a PDF with a more detailed explanation of how the process works with ABConnect Placements.

Topics Data Driven Reinsurance Aon

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