Selfinsurancemarket.com (SIM) has relaunched its business inquiry platform and global search facility to aid the promotion and placement of self-insurance programmes.
The platform’s new design and features, designed by the site’s technology partner iXledger, are aimed at making the sourcing self-insurance solutions and partnerships more smooth for both insureds and industry professionals.
The new initial risk transfer inquiry service allows brokers and third-party administrators (TPAs) to source stop-loss providers efficiently, by supplying initial information to which insurers and managing general underwriters can review and respond.
The service is designed to increase response times and decrease costs by removing the need for brokers and TPAs to send detailed proposals to multiple carriers simultaneously.
Dominic Higham, the site’s founder and chief executive, said SIM was aiming to be the leading global platform for sourcing “self-insurance solutions and new professional partners”.
Higham stated: “We are not looking to disrupt the market, instead SIM is designed to simply help companies create new partnerships with providers and to source self-insured solutions, as well as assisting established companies who are already self-insured.”
“We see this service being especially relevant for new entrants to the market as the US self-insured market continues to grow.”
As part of the relaunch, the site is offering self-insurance service providers a free trial membership.