RiskTrEx is a web based electronic trading platform for global and regional insurance intermediaries and carriers. It offers a suite of interrelated server-based applications, services and tools which, among other things, allow users to identify risk-matched counterparties and reach agreement for the placement of insurance risks.
The platform's functionality focuses on the ‘'front office’ and contract formation, up to the documentation stage. The aim is to assist the broker and underwriter decision maker, irrespective of technical background, to do business electronically from one place. The user experience is key, offering a clean, easy-to-use interface supported by powerful and industry-specific functionality.
The platform addresses the following:
- Inefficiencies in placement
- Low competition
- High barriers to entry
- High cost of obtaining risk preferences
- Finding risk matched counterparties
It does so by:
1. Improving the business process
2. Enhancing productivity
3. Communities
forming and evolving organically
4. Allowing ‘price
discovery’