Buyers

Buyers can bring together their departmental teams to prepare submission files and collect exposure data. Once prepared the documents can be distributed to brokers for review and edit before they go out to the market.

All placements can be managed on a direct basis or through brokers, monitored real-time with each step of the process recorded in one project file.

Copies of bound contracts and wordings are stored in a company library. ACORD GPD standard contract templates are available for companies wishing to create their own documents. The library can also interface with wordings repositories.

With an integration in place, buyers’ repositories and processing systems can be synchronously updated as risks are quoted, bound and closed.

Case study

A major UK buyer consolidated its reinsurance purchasing using RI3K services. Read more