About us
RI3Ks is the paperless trading service for the insurance and reinsurance industry.
Milestones
Company
RI3K (Reinsurance and Insurance for the 3rd Millennium) is the paperless trading service for the insurance and reinsurance industry.
RI3K allows all types and classes of large commercial insurance and facultative and treaty reinsurance to be transacted over the Internet. No software is needed, users simply log on and trade.
The service has been carefully thought-out to ensure it supports the way that buyers, brokers and carriers actually do business. The difference is that it lets them collaborate, create contracts, distribute risk and transact in a way that is faster, more accurate and efficient.
ACORD standard data from quotes and contracts can be passed directly to back office systems accelerating management information and streamlining processing. It also holds a record of the transaction at every stage of its contract certain process to help with compliance and audit trails.
RI3K is the engine of the modern, paperless market, increasing efficiency, accelerating information, and driving out paper and cost.
Our awards
The RI3K service transmits and receives data using the industry standard ACORD XML data format.
RI3K won the ACORD Innovative Implementation Award for the RI3K Data Exchange (RDX) at the 2009 ACORD LOMA Insurance Systems Forum.
RDX is a way of delivering ACORD messages from the RI3K Marketplace to a customer’s system as a feed in real time.
RI3K has received further ACORD Awards in 2008, 2007, 2005 and 2004.