Xchanging has confirmed 129 reinsurance carriers are now registered and actively using its reinsurance deal distribution platform, globalREmarket.
The platform provides a single online repository for brokers to distribute treaty risk information quickly to global reinsurance carriers. It also allows reinsurance carriers to access data, conduct high level triage analytics, and assist in better response times and execution.
Since launching in March, adoption rates for globalREmarket in the reinsurance carrier community have been high, with over 70 reinsurance carriers signing up within the first two weeks of its launch.
The platform now has 129 reinsurance carriers and 525 individual users, and it has been used to exchange 25,000 messages.
TigerRisk, the first subscribing broker, is committed to using the platform exclusively for all future business and Xchanging has stated that it is looking to attract more reinsurance brokers, as well as subscribing reinsurance carriers, to the platform.
Nick Lamb, managing director of Xchanging Broking Services, said: “To have 129 carriers signed up to the platform is a significant achievement for my team at Xchanging and is a testament to globalREmarket’s performance over the initial three months.”
“The platform is about offering a collaborative approach and we are confident of attracting many more subscribing brokers and carriers who now have a robust placement portal for placing and receiving business.”
