GUIDEONE NATIONAL CHOOSES RELAY F1 PLATFORM FOR SUPERIOR REINSURER CONNECTIVITY
GuideOne National streamlines facultative reinsurance placements, creating consistent submissions with improved analytics
New York, NY – November 3, 2021 – Relay Platform (“Relay”) is pleased to announce that GuideOne National Insurance Company, one of the most progressive cedents in the United States, has selected their “F1” reinsurance platform as its official electronic placement system to support its facultative arm for all lines of business.
Insurtech venture Relay Platform offers the cutting-edge reinsurance cedent and broker F1 portal, that combines a wide range of innovative features — all designed to increase the ease of doing business between insurance and reinsurance broker-cedents, their clients and markets. The platform facilitates the transition to data-first placements, allows for superior placement data extraction, real-time visualization of placement structures and quote comparison, placement analytics and the automation of iterative subsequent steps to increase close rates.
Through the use of Relay’s white-labeled electronic placement F1 platform, GuideOne has configured its facultative placement environment to create consistent submission packages, automate document generation and streamline market access. The solution paves the way to rapid process improvements and additional insights that will benefit GuideOne Insurance’s client base.
“Relay represents a huge leap forward in transacting reinsurance, which aligns well with GuideOne and CGA’s mission to improve the insurance industry through technology and innovation making positive change possible,” says Mark Groenheide, SVP, Specialty & President of CGA.
Relay is primed to tech-enable the modern broker, cedent and reinsurer through APIs while still catering to all traditional methods of business. The next-generation placement interface and management dashboard will offer GuideOne access to consistent submission packages, enable API instant quoting and unlock data capture efficiencies.
“The tightening market environment makes it more critical than ever for brokers to focus on relationship building instead of administrative and quote chasing tasks,” comments Andrew deGroot, Vice-President, Enterprise Accounts & International Sales at Relay Platform. “We’re thrilled to integrate with GuideOne and continue to offer seamless communication and advanced serviceability.”
About Relay F1
Relay F1 helps reinsurance cedents and brokers boost their close rates by securing and combining instant and manual quotes from reinsurers. It works in tandem with Relay’s single-entry multi-carrier Quote-Bind-Issue insurance solution, which handles all P&C lines, whether renewal or new business, simple or complex. Relay facilitates billions in coverage across insurance and facultative reinsurance every year.
About GuideOne National
GuideOne National is a specialty insurance subsidiary of GuideOne Insurance Company. Rated “A-“ (Excellent) by industry analyst A.M. Best, GuideOne is licensed in all 50 states as an excess & surplus carrier. GuideOne’s corporate headquarters are located in West Des Moines, Iowa. Visit www.guideone.com or email [email protected] to learn more.