Willis Re develops placement platform with TigerRisk
Broker Willis Re said on Oct. 6 that it is developing an online placement platform with broker and risk/capital management advisor TigerRisk Partners.
The platform, globalREmarket is a repository for reinsurance markets to receive offers and submissions, and to exchange information with brokers such as exposure data, analytics and terms and conditions.
Willis Re has a controlling interest in an independent, third party company – RePlace Holding – with TigerRisk Partners, which has been part of globalREmarket’s development since launch, to further develop and enhance globalREmarket.
John Cavanagh, Global CEO of Willis Re, said: “All savvy businesses in today’s world are looking to harness the technology advantage. For Willis Re, digitization of our placement process, in support of face-to-face negotiation, will create greater security, transparency and efficiency for the way we communicate with markets.
“globalREmarket absolutely presents the best technology available to do this. Once further developed, it will improve the ease, speed and quality of our reinsurance transaction processes, and enable more focus on value-add services for the benefit of markets, for our clients, and for our own business.”
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