General Insurance Article - Aon launches global reinsurer trading platform

 In motion for the 1 July renewals, ABConnect Placements will provide a more integrated, streamlined and documented process for global treaty reinsurance transactions. The goal is to better serve clients with real-time data and metrics through enhanced collaboration between Aon Benfield’s reinsurers and brokers.

 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:

 
1.   Securely downloading underwriting submission packages, other key documents and data files
 
2.   Entering quotes with terms and conditions updated in real time
 
3.   Viewing firm order terms and entering authorised lines

 Michael Moran, Chief Operating Officer of Aon Benfield, commented: “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.”

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