Aon Benfield launches online reinsurer trading platformPosted On: Apr. 5, 2016 12:00 AM CST
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon P.L.C. said on Tuesday that it will launch the firm's global reinsurer trading platform, ABConnect Placements on April 11.
ABConnect Placements will provide an integrated, streamlined and documented process for global treaty reinsurance transactions, Aon said in a statement.
Reinsurance underwriters will have access to an online portal that will allow them to access placements and track progress across Aon Benfield. This means underwriters can manage milestones in the placement. This includes downloading underwriting submission packages and data files. This also includes entering quotes with terms and conditions updated in real time and viewing firm order terms and entering authorized lines, according to a statement.
“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. 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,” Michael Moran, chief operating officer of Aon Benfield said in a statement.