Xchanging has confirmed that initial adoption rates for its new global reinsurance placing platform, globalREmarket, have exceeded all expectations.
In the first two weeks since launch, over 70 reinsurance markets worldwide are now registered and actively using the platform to receive reinsurance submissions. TigerRisk, the first subscribing broker, is committed to using the platform exclusively for all future business.
Marc Lauricella, senior partner at TigerRisk, said: “We have always been very positive about globalREmarket, and are thrilled with the speed and enthusiasm with which our markets have embraced the platform and the benefits it is subsequently delivering.”
“We are expecting a significant increase in reinsurance markets coming online as more TigerRisk submissions go to the reinsurance market.”
